BRACEWELL AND PATTERSON L.L.P.'S SUCCESS STORY


Demographics

Bracewell today is a firm of approximately 375 lawyers, making it the ninth largest firm in the state in terms of number of attorneys. Profits per partner at Bracewell in 2001 were $504,000, placing the firm 14th in the state and well inside the top 100 firms nationwide in terms of this metric. Although the firm has grown by several hundred attorneys in only a few years, the growth has been methodical and not extremely speculative. For instance, some firms went through a period of dramatic hiring on all levels during 1999-2000 to compensate for a perceived or actual increase in workflow coming from the booming technology and dot-com industries. Many firms, though they professed to try to avoid the bubble being created by technology work, grew their Austin offices at the epicenter of the dot com bubble in Texas most dramatically. A number of these firms, including some Texas based firms, became overstaffed as the economy turned downward and as their dot-com clients stumbled and fell.