GoodWork Paper 34: Facing the Storm: The Closing of a Great Firm (PDF)
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Author(s): Paula R. Marshall
Editor(s): Jeff Solomon, Series Editor
Media: PDF
Description: On December 7, 2002, Hill & Barlow (hereafter referred to as H&B), a distinguished law firm in Boston, abruptly ended its 103 years of practice. That this law firm—steeped in civic pride and professional excellence—was relegated in short order to an historical icon was as much a shock to many inside the firm as it was to outsiders who had long admired H&B‘s professional reputation. Upon closer examination, the collapse of H&B initiated by the 23 lawyers who announced their departure on December 6 was the story of a “perfect storm,” a complex set of events put into motion several years before the real estate group had decided to leave. In this paper, I examine the significance of the dissolution of H&B and what it tells us about the changing terrain induced by commercialization, compensation, and competition. In addition, I explore the value of partnership and what it means for institutional knowledge that has developed over the century to be abruptly terminated.
Author(s): Paula R. Marshall
Editor(s): Jeff Solomon, Series Editor
Media: PDF
Description: On December 7, 2002, Hill & Barlow (hereafter referred to as H&B), a distinguished law firm in Boston, abruptly ended its 103 years of practice. That this law firm—steeped in civic pride and professional excellence—was relegated in short order to an historical icon was as much a shock to many inside the firm as it was to outsiders who had long admired H&B‘s professional reputation. Upon closer examination, the collapse of H&B initiated by the 23 lawyers who announced their departure on December 6 was the story of a “perfect storm,” a complex set of events put into motion several years before the real estate group had decided to leave. In this paper, I examine the significance of the dissolution of H&B and what it tells us about the changing terrain induced by commercialization, compensation, and competition. In addition, I explore the value of partnership and what it means for institutional knowledge that has developed over the century to be abruptly terminated.
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