Despite Recession, 2 Quinn Associates Hang Their Own Shingle
As the legal profession copes with the worst economic conditions many practitioners have ever experienced, it might not seem like the right time for anyone with a secure job to give it up for an entrepreneurial new venture.
But that’s just what two senior associates at Quinn Emanuel have done, starting their own law firm because of what they perceive as a paradigm shift in the legal profession. As corporate clients seek more value for their legal dollar, Doug Colt and Tom Wallerstein are offering to fill a niche that complements their work at Quinn Emanuel, reports Above the Law.
Instead of offering to do the same high-end litigation work they did at Quinn for less pay, they want to focus at Colt Wallerstein on “midrange” litigation that otherwise would be too expensive for clients to pursue with Quinn. Their former colleagues at Quinn have been very supportive, Wallerstein tells the law blog, and the two firms are not in competition for the same work.
“Both Doug and I have been practicing for nearly 10 years, and we’ve handled complex litigation from start to finish. We have the skills, the connections, and the hunger to make this happen,” he says. “Eventually, we knew we had to jump off the cliff and just take the plunge. This current economy is primed for a firm like ours.”
