IT PASSES FOR a courtroom truism that whoever wins or loses, the lawyers come out on top—especially in litigious America. The same goes for political outcomes. Had Kamala Harris and the Democratic Party won the presidential and congressional elections in November, white-shoe firms would have expected less work on mergers and acquisitions (M&A) but more representing corporate clients before regulatory agencies. With Donald Trump and the notionally pro-business Republicans in charge, you might have guessed the opposite. Either way, billable hours beckoned.
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