The 2008 Amlaw 100 List is an annual list, which has been compiled for over a decade. Many analysis consider it to be a valuable resource for analyzing the law industry as a whole, as it provides information on business trends and can relate the impacts of decisions made by firms over the years which they have been analyzed. While it is possible to go out and research specific firms, the Amlaw 100 list has all of this information easily accessible in one place.

Some of the major trends this year have been very positive, with revenue rising to above 60 billion for the top 100 firms. Additionally, two firms this year broke the 2 billion dollar profit barrier at the same time. Overall it is widely held that this last year was one of the best on record for the law industry, with profits per partner and revenue per lawyer rising significantly.

There are an endless amount of analysis to be made based on this information, a lot of which has already been made by American Lawyer Magazine in print and on their website.  A lot of insights can be drawn based on what firms did, as far as mergers, expansions, and ventures into new areas of practice. Many professionals rely on this information to make the best informed decision on what they should do to further their careers, or the success of their firms.

The raw content of the Amlaw 100 is available at www.law.com, for a fee. But you can view their analysis articles for free (registration required) at the same site.

Popularity: 3% [?]

Law Firms are notorious for constantly seeking out mergers, acquisitions, and various other expansion and contractions. 2008 was like many years, where the effects of mergers of previous years had a direct effect on the profitability of firms. One would expect that a merger would result in busier associates, and more profit coming in, but that is not always the case.

Take for example the Thelen, Martin, Johnson & Bridges + Reid & Priest merger of July 1998. Both fairly reputable firms, having experience in profitable ventures decide to team up. From the outset one would likely expect immediate or at least quick success. The current Co-Chair Stephen O’Neal said about the project that “It was definitely a seminal event for our careers and the history of the firm.” Considering the fact that the firms were on opposite sides of the US, it was a definite benchmark as far as mergers go.

For many years after the merger was put into action, the new firm faced some fairly harsh criticism for its lack of expansion into new areas. This is typical of many mergers between law firms, where it takes time for the different cultures to congeal into a more efficient mechanism. However, things still don’t seem to be going that well for Thelen. In 2006 they merged again, with New York’s Brown Raysman Millstein Felder & Steiner, in an effort to capitalize on practice beyond their previous scope. In addition to this, they expanded internationally, expecting to find growth in other markets. However, it appears more restructuring is in order since this spring they had a fairly large layoff of 100 associates.

While it’s true that more often than not, properly executed mergers do result in higher profits, it’s not always the case and sometimes the market will shoot down even the best of intentions. The number of firms which benefited from mergers this year is fairly staggering, and overall growth of the AmLaw’s top 100 firm’s profits is something you can take to the bank.

Popularity: 5% [?]

Goodwin Procter was founded in 1912, by Harvard classmates Robert Goodwin and Joseph Procter. And in the 1960’s specialized in legal work around Real Estate trusts. This niche allowed them to grow in strength, and credibility, eventually allowing them to expand between 01′ and 02′ establishing an office in New York as well as hiring 27 new lawyers.  At that time they also  approved a strategic plan to focus on six key areas of legal practice focusing on technology, real estate, and intellectual property.

In 2004 Goodwin Procter hit a road-bump, when 16 of their 27 lawyers in it’s Washington, D.C. office left to form Buckley Kolar which specializes in Financial services.  But they bounced right back, merging with Shea & Gardner, and restructuring their practice groups while adding 70 new lawyers. Then again in 2005 they added another 91 lawyers from the now defunct technology specialist firm Hurwitz.

Since then they have expanded even further, opening offices in San Francisco, Century City, San Diego, Los Angeles, and Silicon Valley. This expansion has been very successful, as the numbers will relate. More than tripling their gross revenue since 2000 topping out at $611 million and doubled their profits per partner, ending up at $1.54 million.

While Goodwin Procter may be one of the biggest movers, that doesn’t mean they’re the biggest profiter. Two firms broke through the $2 billion barrier this year including Skadden, Arps and Latham & Watkins. With the top 100 firms totaling 64.5 billion, there’s a lot of money moving around. Even the lowest firms on the list profited significantly. With total profits across all firms rising 13.6 percent since the last report.

Popularity: 3% [?]