You’re right in that it’s nothing new. Firms are always dropping names and going to initials, buying out others, or splitting off. It was really rampant around here for a while with civils – I know one firm changed hands/names like four times in five or six years. Keith is right in that the people don’t necessarily change, but the names definitely have a history and sometimes it’s sad to see them go. It will certainly make the ‘genealogy’ part of LA history/pro-practice courses more interesting. : )
But I don’t really agree that firms will have to make such a choice. My understanding is the majority of practicing LAs are either sole practicioners or part of very small (<10) people firms. I think there are a lot of small to mid-sized firms out there that you simply don’t hear about like you do the big names, and they’ll continue to exist right along with the sole practicioners. It’s all in the goals of the people in charge and their vision for the company. I also think you’re seeing part of the economic cycle – things slow down and there’s usually a thinning out in the middle, growth and merger at the top, and explosion at the bottom (in terms of firm size) as people start their own firms and larger companies acquire assets in an ideal time if they can.
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