Legal Trends

May 1, 2010 – In The News
New Jersey Business

Phillip Griffin comments on how his law firm had its best-ever economic year in 2009, and he believes 2010 will be slightly better even amidst a vast sea of negative economic news.

Griffin explains that some of his firm’s growth has come from hiring established attorneys. He adds, however, that “the diversity of our practices has resulted in an ability to react to the marketplace quickly. The most striking example is certainly in the bankruptcy area. Five years ago, those folks were really an underperforming part of our practice and the real estate world was a higher-performing part. Now, we are in the reverse mode.”

Griffin comments on the changes occurring in New Jersey including Governor Christie’s fiscal restraints that might provide long-term benefits to the state, but with short-term pain. Griffin points out that the modifications, if successful, will help all businesses in New Jersey – not just law firms.

“Law firms are in the service business, to make their clients money and help their businesses survive,” Griffin said. “We live and die on how successful our clients are.”