These firms do not have the capital to outlast Trump. If they unified they could fight him collectively, but they can’t outlast him if he successfully makes it impossible for them to do business while other firms are waiting in the wings to steal clients and lawyers.
Guarantee they have enough equity. They could do no business for 4 years and survive. But yes, they absolutely should fight. It’s cowardice at every level.
I seriously doubt they do, and I suspect I understand their business model better than you. Law firms don’t hold huge cash reserves - they pay out profits to their partners. And even access to financing will be more difficult with these EOs hanging over their heads.
Then the equity is with the partners. Same concept.
They’re limited partnerships - partners aren’t obligated to kick in to fund the firm’s operations, and they can take their money and their clients and go to another firm whenever they want. So could individual partners last 4 years without pay? Some could. But their firms couldn’t.
Gotcha. Thanks for explaining. You obviously know more than I.
I only know about Biglaw because I was in it for a long time!
I get it. I know enough to defer to those who know. Appreciate it.
Lawyers like college professors are for the most part only interested in their careers and the money or status it brings. They talk a good game but a little pressure and they come up with all manner of excuses to comply.
Marc Elias on the other hand is a hero
He is, but it’s not really the same. Fighting the government on constitutional and civil rights issues was always core to his business. I’m not saying he isn’t sacrificing by making himself a target, but putting himself out there is free advertising for his services and his business is booming.
History will remember him fondly.