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I suspect one factor is that although corporate/commercial law firms bill huge amounts they are often a pretty small percentage of the overall transaction - so
by arethuza 7y ago
I suspect one factor is that although corporate/commercial law firms bill huge amounts they are often a pretty small percentage of the overall transaction - so nobody really cares (people are generally motivated to make deals happen rather than making sure that the overhead for each deal is as small as possible).
- seem_2211 7y agoI think a similar sort of thing that comes into play for Investment Banking - when the skill of the endeavor means an upside for the firm of hundreds of millions, or billions of dollars, then shopping for a low price is the last thing that you'd want to do.