Law.com's Business of Law desk editor Dan Packel writes how law firms can consider "redeploying personnel toward contingency litigation" instead of conducting layoffs during tight economic times, according to Burford's Co-COO David Perla.
As Perla says, "'The firms that do have a litigation practice and have specialty practices that haven’t historically leveraged those specialties into their litigation have opportunities here...Firms that have risk-based practices in limited groups that have treated those as exceptions to the firm’s preference for hourly billings can expand this appetite for risk.'
He adds, 'If [firms] believe in the economics, they can find their way around the training and the pricing.'"
The article also mentions Burford co-founder and Chief Investment Officer Jon Molot's recent byline in Legal Week/Law.com International entitled "Outside Equity Investments in Law Firms are The Future of Legal Innovation."
