Our Business Plan
No law firm can accommodate all types of practices. Many times, attorneys switch firms because they need a different "platform" to accommodate their practice. As a regional commercial law firm, we see tremendous opportunities ahead for our firm. Over the last 25 years, the legal profession has experienced a transformation where large national and international firms have emerged. This consolidation continues with many area firms electing to merge or be acquired. A majority of our attorneys have joined us from these larger New Jersey and Pennsylvania firms because their client base or practice focus was no longer consistent with their firm's business plan or because the larger size and or greater geographic reach was not necessary to service their existing and target clients.
Our firm is committed to taking advantage of the opportunities created by consolidation in the legal marketplace. An examination of our practice areas and their client focus will illustrate this strategy. In each area of our practice, we seek to focus on areas where we can compete with the national and global law firms or target practice areas or clients that are outside their focus. For example, because real estate matters involve state and local laws, a national firm with offices throughout the world has no competitive advantage over our firm. In fact, in many cases, the cost structure needed to support their practices places them at a distinct disadvantage to our firm.
A business with environmental contamination at their local facility in Trenton, N.J. gains no advantage from a firm because it maintains an office in Paris, France.
Our corporate practice concentrates on representing companies based in the region. Unlike the national firms, we desire representations of privately held and family-owned entities. Increasingly, public companies with interests in our region are recognizing that they receive better service from a law firm based in this area.
Our newly expanded intellectual property practice has been able to attract and service institutional clients throughout the United States and the world with no resistance regarding our location or size from these clients.
Each year, we evaluate the market opportunities for each of our practice areas to identify areas where we can achieve a competitive advantage. In speaking with attorneys interested in joining our firm, we take great care in making sure their practice and client focus is consistent with our business plan. This process minimizes the chance that an attorney's practice becomes incompatible with our platform.