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  • March 2020 (Revised March 2022)
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Wachtell Lipton: Focused Excellence

By: Ashish Nanda and Margaret Cross
  • Format:Print
  • | Language:English
  • | Pages:28
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Abstract

For years, Wachtell, Lipton, Rosen & Katz—a small, New York City law firm—has consistently boasted the highest profits per partner and one of the highest “prestige” ratings among U.S.-based law firms. The firm has remained loyal to a distinctive strategy ever since its founding in 1965. Whereas most law firms have multiple offices, seek long-term retainer relationships with clients, operate across multiple services, and bill by the hour, Wachtell Lipton operates from a single location, offers legal services on a matter-by-matter basis, focuses on transactional work (primarily M&A advisory), and value bills for its services. Despite its extraordinary success, as the legal services market evolves and the firm’s name partners, 87-year-old Herbert Wachtell and 88-year-old Marty Lipton, approach retirement, questions arise about whether Wachtell Lipton’s magic formula will continue to yield extraordinary results in coming years.

Keywords

Strategy; Law; Mergers and Acquisitions; Legal Services Industry; New York (city, NY)

Citation

Nanda, Ashish, and Margaret Cross. "Wachtell Lipton: Focused Excellence." Harvard Business School Case 720-396, March 2020. (Revised March 2022.)
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About The Author

Ashish Nanda

Strategy
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Related Work

    • March 2020 (Revised March 2022)
    • Faculty Research

    Wachtell Lipton: Focused Excellence

    By: Ashish Nanda and Margaret Cross
Related Work
  • Wachtell Lipton: Focused Excellence By: Ashish Nanda and Margaret Cross
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