Gillette rode a simple business model for three decades: add product complexity, raise price, and watch profits soar. Big Law has followed the same formula. But just as Dollar Shave Club blew apart the Gillette model, in-house counsel’s taking of work away from outside firms is hollowing out Big Law.
When I share the Gillette story with law firms I get the predictable reactions: nitpicking at the analogy and assertions of law’s uniqueness: “Interesting, but it wouldn’t happen in law”. Actually, it has already happened in law: the intellectual property (IP) market has been the bellwether. It’s a cautionary and instructive tale.
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