Via Rainmaking Oasis:
Recognizing the need to approach client problems and needs with broader and deeper substantive disciplines than just legal expertise, law firms have evolved their service offerings to include formal, integrated teams of lawyers, consultants and other professional experts. As early as the 1980s, law firms began to form separate subsidiaries affiliations and joint ventures to address client needs for special expertise and also to differentiate and market their services to new clients. Since that time, many of the original subsidiaries dissolved or spun out, several still exist and new ones have formed. See our two prior posts,Â Law Firm MDPs Part 2: Law Firm SubsidiariesÂ andÂ Law Firm Law Firm MDPs Part 1 – A Primer.