The law firm industry has been dealing with some serious restructuring issues since the economic problems of 2014. Large law firms once restructured remain a good fit for large corporations. However, what type best addresses the issues facing a small business? Law firms that are small are the best answer. In Minneapolis, you can find many of these “boutique firms providing services to the public.
What Is a Boutique Law Firm?
A boutique law firm focuses on one specific niche of the law. The attorneys working there are all specialists in this field. These practices are smaller in size and number of attorneys. They are usually less expensive than their larger counterparts are since they have less overhead.
Characteristics of Boutique Law Firms
Certain characteristics help to define a boutique firm. In general, they are:
Small
Have fewer lawyers than large and mid-size firms
Employ lawyers who previously were big firm lawyers
Tend to specialize in a specific area of the law e.g. Minneapolis business law
Will call on specialists for areas that do not fall into their expertise to meet a client’s specifications within their own specialty
Are always willing to make a referral when something does not fall into the focus of their specialty
Tend to be less expensive than mid-size and larger firms
These characteristics apply to boutique small business law firms. They focus on partnering with small business to provide guidance, advice and various legal services.
Small Business Law Firms
In Minneapolis, it is easy to find both large and small business law firms. However, over the past few decades, the profession has seen a growth in one specific style. This is the boutique law firm. While larger law firms offer expertise in diverse areas, a boutique law firm exists to cater to a certain group. This offers certain advantages to clients now and in the future.
