But even for firms that have so far survived, increased costs, such as salary increases and building infrastructure needed for expansion, profits and revenue growth have dwindled. The Recorder reports that ''revenue per lawyer was pretty much flat across the board, with Littler posting the highest rise of the firms surveyed at 5%.''
Firms did report that while some areas of work dissipated amid the economic muck, such as securities and real estate work, needs in litigation, intellectual property, bankruptcy and employment law increased, helping bridge the gap.
In a survey of seven of the largest native Bay Area firms, The Recorder found that most reported a drop in profits per equity partner, with Orrick posting the biggest decline, at 21%.
Not conforming to the findings of the paper was Littler— its head count grew 20% in 2008 and even experienced a slight rise in profits per partner.
