What Have Lawyers Done For American Business? The Case of Baker & Botts of Houston

Abstract

Although lawyers made crucial contributions to the development of business, scholars have said little about their role. As the following article explains, lawyers fought restrictions on business growth, worked to make laws uniform, and helped to establish legal rules in the areas of corporate reorganization, finance, and regulation. Pioneering a new type of organization—the large firm—they moved beyond the realm of legal doctrine and acquired the political influence, local knowledge, and community connections needed to reform the nation's decentralized legal system in ways that fit the demands of national-scale business.