Tuesday, March 30, 2010

Florida Law Firms Realign to Meet Market Conditions

Palm Beach County law firms are responding to market conditions through lateral hires, smaller office space, and the launch of new boutique law firms, according to a Palm Beach Post article titled "Law Firms Breakup, retool for new opportunities."

Change creates opportunity, and bank failures, real estate foreclosures, and lack of deal funding has changed the dynamics of this upscale community. Despite ranking #34 on the U.S. list of top 100 counties by income, Palm Beach County is nevertheless struggling to clear a backlog of 55,000 foreclosures.

Some enterprising attorneys see this as a great time to start a new firm, as was the case with Breton, Lynch, Eubanks & Suarez-Murias, P.A. Other regional or out-of-state firms that want to expand their Florida presence are scooping up attorneys fleeing firms that are losing market share.

As this Rainmaking Lady always says, never stop marketing! Business frequently goes to the best marketer in these challenging economic times, and that will not always be the same as the best lawyer.

Read the full article on the Palm Beach County legal market here.

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