The modern practice of designation—where lawyers from opposing counsel help decide which lawyers a client should use—has concentrated influence within a small group of lawyers.
Ask anyone who knows anything about the system and they will name five law firms that dominate the market: Kirkland & Ellis; Paul, Weiss, Rifkind, Wharton & Garrison; Weil, Gotshal & Manges; Latham & Watkins; and Simpson Thacher & Bartlett.
