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1 week agoMidsize Law Firm Closing Its Doors After 21 Years Following Partner Exodus - Above the Law
Taylor Duma is closing after 21 years due to changing market conditions and significant partner departures.
Following the implementation of tariff rate increases and new universal tariffs in April 2025, monthly tariff payments by these midsize firms have tripled compared to early 2025 levels. Decoupling is Happening If the primary objective of the trade policy was to reduce American reliance on Chinese manufacturing, the banking giant's data suggests the strategy is working. Outflows from midsize U.S. firms to China have dropped by approximately 20% since 2024.
Biglaw is defined by oppressive hours and high pay while solo practitioners enjoy independence; however, the legal profession also includes midsize firms without a clear definition.