John Quinn Warns of Generational Clash When Firms Get Investors

Law firms bringing in outside investors is one of the hottest topics in the legal industry right now. John Quinn, founder and chairman of Quinn Emanuel Urquhart & Sullivan, says firms that want to take the cash need to figure out how to avoid alienating their younger attorneys. Non-lawyer investment isn't common yet in the US, but some firms are experimenting with different ownership models—especially as they consider the price tags on AI tools. Bringing in outside investment can help raise capital. It can also dilute the pool of profits that associates and younger partners were hoping they'd one day get to enjoy, Quinn said on our podcast, On The Merits. "They have to be persuaded that that's in the long-term interest of the firm," he told Bloomberg Law reporter Roy Strom. "But these are some awkward conversations. And it's a generational conversation." Do you have feedback on this episode of On The Merits? Give us a call and leave a voicemail at 703-341-3690.