Choosing the right law firm can be a daunting task. Especially when the matter you are seeking advice on is already causing you anxiety.
While we cannot offer you a map with an “X” marking the spot for the "Right Law Firm" for you, we can provide you with some information in the hope of making your decision a little easier.
One of the most significant decisions in choosing a law firm is to work out if you need to deal with a Big Firm or a Small (or “Boutique”) Firm. When determining the answer to this question, it is important to bear the following in mind:
Big Firms have the resources and staff to deal with large and complex matters, such as large Mergers & Acquisitions involving significant Due Diligence enquiries, or a litigation matter involving significant discovery.
Big Firms have “interdisciplinary” expertise, which is valuable if your legal matter involves questions that touch on a broad range of legal issues and disciplines.
Big Firms may have a national or global presence, which is invaluable when your legal matter involves cross-jurisdictional and multi-jurisdictional issues.
Big Firms often have a well-established standing or "brand". Therefore having their name on a legal letter may support your claims, or give weight to your corporate and financial objectives.
Small Firms, on the other hand, are able to specialize and offer tailored services in a way big firms generally cannot. Thus, if your legal matter does not require the large capacity that a Big Firm offers, you should take the time to consider using a smaller firm that may offer the following benefits.
Small Firms are often built around a highly respected and competent practitioner. When you do not have the “brand” of a large law firm behind you, something else is required to pull in clients. For small firms this is generally the technical excellence and personality of the current principals and solicitors within the firm. A small firm cannot generally sustain itself on its brand alone, or the performance of past or founding partners.
Small Firms cannot compete with the "status" symbols of large offices and expensive fit-outs. However, they replace the sense of security this grandeur invokes with a more personalized and value-oriented service. Small Firms also have the benefit of not having to pay for all this show - they generally operate with a lower cost base, which can be passed through in the form of better value services.
Small Firms rely on the client-focused performance of each and every solicitor in the firm, in contrast to Big Firms which rely heavily on their junior solicitors’ annual billable hours targets. Put another way, a small firm has a vested interest in ensuring that your legal matter is solved as quickly and cost-efficiently as possible, by the most appropriate person for the job.
Small Firms generally offer a more personalised service, meaning that the same solicitor (usually an experienced one) is in charge of and carries out work on your matter throughout its duration. The benefit being that the solicitor on the job is fully aware of your individual and commercial goals – as opposed to the task being delegated to them by a senior lawyer within a larger firm. You therefore do not suffer from or pay for the "Chinese whisper syndrome". Furthermore, this avoids the cost of having one solicitor “educating” other solicitors internally about your particular matter.
Small Firms do not generally charge or operate on the same basis as Big Firms. Big firms require solicitors to work in groups, and to undertake significant internal peer review. While this certainly aids in quality control, it has the effect of doubling and sometimes tripling the cost of achieving a certain outcome. This is quality control that you may not need, and is at least to some extent a product of the nature of a Big Firm itself – rather than your particular matter.
In essence, there is no single law firm that will be able to best meet everyone’s legal needs. However, a wise decision can be made by bearing in mind the above information.
By making the right choice you will save yourself time, money, and unnecessary stress.
Call us on 1300 654 590 to talk about the right law firm for your matter.
