P2P

P E E R T O P E E R M A G A Z I N E · S P R I N G 2 0 2 5 11 The Legacy Model represents a foundational legal service delivery model deeply rooted in the traditions that have shaped the legal industry for decades. Characterized by layers of expertise and concentrated decision-making authority, this structure emphasizes partner autonomy and well- defined hierarchies. It thrives on consistency and careful stewardship of client relationships, ensuring predictability and trust in service delivery. Legacy Model firms are often distinguished by their reliance on traditional organizational frameworks, where work is distributed through established partner-associate leverage models, and profitability is closely tied to billable hours. Technology in these firms typically supports operational efficiency and streamlines core processes, prioritizing stability over disruptive transformation. These firms excel in handling complex, high-stakes matters that demand significant expertise and rigorous attention to detail. Many AmLaw 100 firms embody this model, particularly in mergers, acquisitions, and bet-the- company litigation. Firms like Cravath, Swaine & Moore have built enduring reputations by leveraging time-tested strategies to deliver exceptional value in premium corporate transactions. As the legal market evolves, the Legacy Model provides a reliable framework for addressing sophisticated legal challenges while exploring opportunities to integrate new approaches that align with strategic priorities. DID YOU KNOW? 97 of the AmLaw 100 firms are ILTA members. Browse all of the current member organizations at www.iltanet.org/ currentiltamembers. _ THE LEGACY MODEL 1 Legacy Model firms are often distinguished by their reliance on traditional organizational frameworks, where work is distributed through established partner- associate leverage models, and profitability is closely tied to billable hours.

• Cover