Weil Gotshal, a 95-year-old law firm, plans to wind down after top partners left. Lawyers say AI could help firms keep what their stars know, or help stars leave.
Weil Gotshal, one of the country's most storied law firms, announced plans to wind down after an exodus of high-profile partners. The firm is 95 years old and made its name handling some of the biggest bankruptcies in American history. Lawyers at a Business Insider event agreed that AI did not cause the collapse. But they said it may shape which firms survive the next one.
A handful of departures can set off a chain reaction at a big law firm, in months or even weeks. Eric Greenberg, general counsel of Cox Media Group, said Weil faced something like a run on the bank. Nobody wanted to be the last one left. A Weil spokesperson did not respond to a request for comment.
Big law firms run on relationships. Star partners bring in clients and keep them happy. David Wang, chief innovation officer at Cooley, noted that when a rainmaker leaves, the firm can lose clients and revenue. It can also lose years of knowledge about those clients and the work done for them.
Avi Gesser, a partner at Debevoise & Plimpton, compared AI to a tourniquet. It might not stop a lawyer from leaving, but it could keep the firm from bleeding out. Debevoise is building tools to capture what its litigators know, so that knowledge belongs to the firm. Greenberg said client loyalty could shift from "he knows my stuff" to "the firm knows my stuff."
Sharon Crane of the Practising Law Institute asked the obvious question: if a lawyer hands over everything they know, what do they take with them? Gesser said partners are not necessarily paid for teaching the firm's systems. Oz Benamram, chief AI officer at Pillsbury, said partner agreements may need rewriting. Departing partners, and clients, could both claim the knowledge.
Michael Gerstenzang, senior partner at Cleary Gottlieb, raised a twist. A top deal lawyer relies on tax, antitrust and employment specialists down the hall. AI might one day handle some of that work. Then a big firm's all-in-one expertise could look less essential, and stars could leave more easily.
If your business depends on a single lawyer, their exit is your risk too. The material does not say how any firm will settle who owns captured knowledge. It also does not say whether these tools will work. Questions worth asking your firm:
If your lawyer's knowledge lives in one person's head, your business is exposed when they leave, so ask how the firm keeps it.
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