Over the last 24 months I’ve had several friends leave their big law firm practices to launch a solo or small firm practice. With the exception of one person, all of them say that it’s the best thing they’ve ever done and they can’t believe it took them so long to make the jump. Ironically, all of them continue practicing exclusively in the specialized areas they developed while at their big firms — e.g., labor and employment, technology transactions, and corporate finance.

Carolyn Elefant of MyShingle.com noted this phenomenon in a recent blog entry. As an example she cites Walter James, an environmental lawyer that left Biglaw practice in 2004 to start a successful solo environmental practice. Walter comments that some of the best environmental work is done by solos and small firms, at much lower rates than Biglaw can offer.

Carolyn closes her entry with this:

So if you’re toiling at a large firm, dreaming of the solo life, think of ways that you can take your $400/hour expertise (of which you may see 25 percent, if that much) and transplant it at your own law firm.

Definitely something worth thinking about for anyone considering a jump from Biglaw to Small-law.

You Can Take It [BIGLAW Practice] With You [MyShingle.com]
SMALL-LAW v. BIGLAW [Environmental Crimes Blog]