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&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: &#39;Arial&#39;,&#39;sans-serif&#39;&quot;&gt;Layoffs, salary freezes, office closings, party trimmings &amp;#8230; Every day, it seems, we read about more financial fallout among big law firms. It can all get a bit depressing.&lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: &#39;Arial&#39;,&#39;sans-serif&#39;&quot;&gt;&lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: &#39;Arial&#39;,&#39;sans-serif&#39;&quot;&gt;&lt;/span&gt;&amp;nbsp;&lt;/p&gt;&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: &#39;Arial&#39;,&#39;sans-serif&#39;&quot;&gt;For a slightly different perspective, it&amp;#8217;s worth looking at what&amp;#8217;s happening among some smaller firms. Of course, midsized or boutique firms aren&amp;#8217;t immune to the economic crisis (e.g., Morgan &amp;amp; Finnegan), but as a recent article in &lt;i&gt;The American Lawyer&lt;/i&gt; suggests, the lower overhead and relative flexibility of regional firms may put them in position to snag large corporate clients away from less nimble, national giants: &amp;#8220;[F]or law firms that are willing, and able, to offer cash-strapped general counsel quality services at a lower price, the current crisis presents an opportunity for more business.&amp;#8221;&lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: &#39;Arial&#39;,&#39;sans-serif&#39;&quot;&gt;&lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: &#39;Arial&#39;,&#39;sans-serif&#39;&quot;&gt;&lt;/span&gt;&amp;nbsp;&lt;/p&gt;&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: &#39;Arial&#39;,&#39;sans-serif&#39;&quot;&gt;Other opportunities lie in the solo realm. This week, &lt;i&gt;The Recorder&lt;/i&gt; on some laid-off BigLaw lawyers who&amp;#8217;ve since set up shop for themselves, while &lt;i&gt;The National Law Journal&lt;/i&gt; some of &amp;#8220;the risks and rewards of launching new firms.&amp;#8221; If the comments on D.C. lawyer Carolyn Elefant&amp;#8217;s blog, MyShingle.com, are anything to go by, this may in fact be the &amp;#8220;best moment to start a new practice&amp;#8221;. As one enthusiast argues, &amp;#8220;We are witnessing history, folks. People are yearning for value and personal attention. This is evident all around us&amp;#8212;look at all the Big Box stores closing. Solos and other small businesses can weather this storm. Although solo life is not easy, I consider myself very lucky right now.&amp;#8221; &lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: &#39;Arial&#39;,&#39;sans-serif&#39;&quot;&gt;&lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: &#39;Arial&#39;,&#39;sans-serif&#39;&quot;&gt;&lt;/span&gt;&amp;nbsp;&lt;/p&gt;&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: &#39;Arial&#39;,&#39;sans-serif&#39;&quot;&gt;On a related, but perhaps less encouraging, note, an Above the Law thread asks just who are all these associates getting laid off&amp;#8212;are they junior associates, mid-levels, seniors? It seems that many of the victims are first- and second-years&amp;#8212;lawyers whose chances of launching a successful new start-up may be slimmer than those with more established practices and clients. (But for all those law school grads&amp;nbsp;ready to take the plunge, Sameer Kumar, J.D., makes this &amp;#8220;amazing offer&amp;#8221; to share his secrets on &amp;#8220;how to make a six-figure salary as a solo practitioner.&amp;#8221;)&lt;/span&gt;&lt;o:p&gt;&lt;/o:p&gt;&lt;/p&gt;&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: &#39;Arial&#39;,&#39;sans-serif&#39;&quot;&gt;&lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt; TEXT-ALIGN: right&quot; align=&quot;right&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: &#39;Arial&#39;,&#39;sans-serif&#39;&quot;&gt;&lt;/span&gt;&amp;nbsp;&lt;/p&gt;&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt; TEXT-ALIGN: right&quot; align=&quot;right&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: &#39;Arial&#39;,&#39;sans-serif&#39;&quot;&gt;- posted by vera&lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;

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