even 10 years back, almost all of the big law firms were more or less family run. there were name sake salaried partners and most of the equity remained with a small set of people who inherited the business from their parents or uncles. these guys usually ate the largest chunk of the pie leaving the crumbs for the others. this was indeed a form of rent seeking.
are these days finally coming to an end? are the big guys loosing out to the smaller guys who are growing and getting bigger? is this not something that the lawyer community can be really proud of? i mean compared to litigation which is still largely run by the family guys, are we not seeing some genuine opportunity for someone who is not from a lawyer family to grow? can we call this a genuine success of capitalism in India?
are these days finally coming to an end? are the big guys loosing out to the smaller guys who are growing and getting bigger? is this not something that the lawyer community can be really proud of? i mean compared to litigation which is still largely run by the family guys, are we not seeing some genuine opportunity for someone who is not from a lawyer family to grow? can we call this a genuine success of capitalism in India?