The legal profession sits at the nexus of dealmakers’ worlds, from Wall Street to Silicon Valley to Washington. As regulations change and the threat of litigation rises, the importance of lawyers has never been greater.

Yet the legal industry itself has been confronting great pressures. The collapse of Dewey & LeBoeuf exposed the potentially fatal flaws in the bigger-is-better mantra that has swept through Big Law in recent decades. And business — throttled by the financial crisis — is still not booming.

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