The evolution of the legal market has also stimulated competition for the many women who work as high-end legal secretaries, paralegals and in information technology and marketing support, she said. Sara Merken reports on data protection and security as well as the legal economy, including legal innovations and key players in the legal services industry. Contact them at sara.merken@thomsonreuters.com Foley & Lardner opens an office in Salt Lake City, adding an intellectual property litigation team as part of its ongoing strategy to expand into key markets. Salt Lake City is positioning itself as a hub for tech startups and venture capital firms, with investors investing billions of dollars in early-stage companies. As these businesses grow, they seek a wider range of legal services. They are also changing the local legal market, causing some well-known names to rethink how to do this. Last month, Salt Lake City-based Jones Waldo announced he was joining another longtime firm, Parsons Behle & Latimer. Often referred to as the “crossroads of the West,” Salt Lake City, Utah`s capital and the state`s most populous city, has also become a business hub. On a list of the best-performing cities in the United States, Salt Lake City`s economy is remarkably stable, thanks to its forward-looking, business-friendly policies and domestic capital investment. In addition, the population has become increasingly diverse. Since 2010, migration from other countries has accounted for 41 percent of Utah`s growth. In addition, according to a survey by the Public Religion Research Institute, Utah ranks second in the country in terms of its citizens` support for protection from LGBTQ discrimination.
tl;dr – What does the legal market in Utah look like for an outsider? “I think there are a limited number of firms that can actually set up shop and reach critical mass there,” said Robert Brigham of legal recruitment firm Major, Lindsey & Africa. “And I think we`re getting close to that number.” What makes Utah`s largest city such a magnet for Big Law? Lawyers and analysts pointed not only to an influx of people, tech dollars and business-friendly regulation — key ingredients for most secondary markets — but also respected law schools, innovation in nearby cities and an entrepreneurial culture. Global law firms are popping up in Utah, bringing competition that could increase legal fees for consumers, but also new opportunities for women and lawyers of color in the state. Instead, large law firms are aggressively recruiting lawyers already working in Utah and creating competition in the local legal market, including through higher salaries. news.bloomberglaw.com/business-and-practice/foley-lardner-is-latest-big-law-firm-looking-to-salt-lake-city A team of Dentons lawyers comprised of U.S. and Canadian representatives represented Lignetics Inc., the largest consumer-focused producer of wood pellets in the U.S., in EagleTree Capital`s acquisition of Taglich Private Equity, a value-focused financial limited partner focused on mid-market investments. inferior. The parties have agreed not to disclose the terms of the transaction. Himonas said he thinks the national and international companies setting up shop there are “a natural progression.” He said he`s not worried about the recent changes being made to Utah`s longtime businesses, as the changes take place as part of a healthy and competitive legal environment. Himonas said he also believes Prince, Yeates & Geldzahler will close in 2019 and that Van Cott, Bagley, Cornwall & McCarthy had previously merged with Fabian Clendenin, regardless of ongoing developments. news.bloomberglaw.com/business-and-practice/kirkland-ellis-moves-to-salt-lake-city-seeking-recruiting-edge The city`s legal market is evolving in tandem with Utah`s population growth, which grew 18.4 percent from 2010 to 2020, making it the fastest growing state in the country, according to data from the U.S.
Census Bureau. “We want to serve a client who might come, and it may not be clear what the legal issue is,” he told Bloomberg Law. “We take a holistic approach and are ready to help them, regardless of their industry and market.” “There are many needs that can be met with means and resources,” she said. “So I hope they will become partners in our legal community with us, supporting our local law schools, supporting our affinity bars, and supporting some of the organizations that are doing a very good job of filling the gaps that the big law can`t fill.” Right now, it`s a good time to look for legal work in Utah. Legal jobs abound and competition is fierce. Utah is growing rapidly and has caught the attention of several large national/international companies, so you can work for them for money (and hours) or take one of the least obscenely lucrative jobs someone just left that desperately needs to be filled. Seriously, it`s a crazy job market right now in favor of the lawyer/individual. In my eight years of practice, I have never seen it this way.
Kimball Dean Parker, CEO of SixFifty, Wilson Sonsini`s technology subsidiary based in Salt Lake City, said the city has seen an influx of “startups starting to get big enough to afford big legal services.” Is it a huge obstacle to have a degree from a non-state law school, which is not native to the region and is not a member of the Church? Over time to shape my legal education, which places in Utah are saturated with a particular jurisdiction or need a particular area of law? I`ve spent some time looking at ABA maps and seeing that the number of avocados in Utah has increased by 31% over the past decade, do you have any thoughts as to why that would be the case? Lawyers at Denton`s Durham Jones Pinegar office in Salt Lake City provide a wide range of legal services to a variety of clients, including individuals, public and private corporations, educational institutions and charities. Our lawyers have handled complex commercial and financial transactions, banking and commercial disputes, as well as intellectual property, bankruptcy, real estate, tax, estate planning, labour, family and immigration matters, among others. Business leaders and legal recruiters pointed to Salt Lake City`s booming tech sector, recently dubbed “Silicon Slopes,” as well as the region`s universities and lifestyle factors as major attractions. Last year, when Jones Waldo`s team began talking about how best to move forward in Utah`s changing legal market, Parsons turned to the potential to “join the strengths of lawyers,” Ferrin said. “We had legal secretary positions” and “paralegals that we can`t fill,” she said. “We had to look for a lot of resources outside the state and go remotely.” Another Am Law 100 firm is expanding its presence in Salt Lake City, selecting a group of intellectual property lawyers from a competing firm in a growing market. Quinn Emanuel, the large Los Angeles-based litigation firm, has led the interests of major corporations in Utah City. In 2018, a site was opened that offers patent litigation and other legal services. By 2020, 18 AmLaw 200 firms had opened offices in Utah, twice as many as in 2015. Dentons and Lewis Brisbois are among the other law firms that have reported their presence in the state. “Utah lawyers have been on site for clients across the country for some time,” Clark said. “It`s only going to increase as this market accelerates.” “It`s important to have diversity in the legal market” while ensuring that there is a “true Utah firm that can provide services to Utah clients,” Thomas said.
That`s what Jones Waldo and Parsons executives say they hope to achieve by coming together. Law firms always keep an eye on the next trendy market, whether they`re looking for cheap prices, business activities, talent, or all of the above.