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Considered one of the most prestigious

firms in California and home to a nationally

acclaimed litigation department, Munger,

Tolles & Olson, LLP, disproves the notion

that bigger is always better when it comes

to law firms. Since its inception in 1962 in

Los Angeles, the firm has steered clear of

the rapid expansion so prevalent in the legal

industry recently and has added only one

new office in San Francisco. With 153 lawyers

and close to an equal ratio of partners to

associates, MTO remains true to its found-

ers’ dedication to providing top-notch legal

services in an efficient manner.

Prestige often comes from whom you know,

as illustrated in the friendship between MTO

founder Charles Munger and the owner of

Berkshire Hathaway billionaire Warren Buf-

fett. Munger eventually decided to leave the

firm to become Berkshire Hathaway’s vice

president, but the ties did not break with his

departure, as MTO continues to represent

the investment company in its legal affairs.

Other notable MTO clients include Universal

Studios, Edison International, Shell Oil Co.,

and Alyeska Pipeline Services.

While MTO attorneys bring wide ranging

expertise to their practice, the firm is best

known as a litigation heavyweight. Its reputa-

tion in that field is exemplified by the fact

that it is often called as counsel for other

law firms. For example, MTO successfully

represented Kirkland & Ellis in its entangle-

ment in the Enron debacle, getting the firm

dismissed from the securities class action

suit.

Possibly the firm’s most famous litigator,

name partner Ronald Olson provides a shin-

ing example of the MTO attorney. Reported

to bring in upwards of $10 million a year in

major cases, Olson was recently counsel for

such clients as Edison International in the

California electricity crisis and the Republic

of Philippines in a suit against the Marcos

family. He has arranged advantageous settle-

ments for Merrill Lynch and Alyeska Pipeline

Services, avoiding billion dollar punitive

damages. As is common with MTO attorneys,

Olson sets the standard for professional

responsibility, devoting considerable time

to pro bono legal services and playing an

important role in the development of cost-ef-

fective legal services as the Chairman of the

Alternative Dispute Resolution Committee

from 1976-1986.

As a whole, MTO stands out for its substan-

tial commitment to pro bono work. Lawyers

donate 3% of their time to worthy causes,

frequently representing prisoners on death

row, staffing legal clinics, and fighting for

broad social issues such as the elimination of

the chad-producing punch cards in the Cali-

fornia voting system. The firm has received

ample recognition for its socially responsible

endeavors from the ACLU, the ABA, and the

Lawyers’ Committee for Civil Rights.

Getting hired at MTO is a competitive pro-

cess. In addition to graduating from top law

schools with impeccable GPAs, nearly one

out of eight MTO lawyers were Supreme

Court clerks and eleven out of the twelve

non-lateral hires in 2003 came from some

clerkship position. Candidates who possess

the basic MTO mold go through a number of

interviews before the entire firm sits down to

make the final decision. Even 10% disap-

proval could be cause for rejection.

The stringent selection process appears to

pay off, and associates at MTO immediately

enjoy a sophisticated workload due to the

firm’s small size. That often translates into

more responsibility for associates and, since

the more experienced lawyers have little

time to train newcomers, can feel like a

birth-by-fire ritual. Nevertheless, those who

survive say the system works better than

more structured training methods and af-

fords greater potential for growth.

Compensation at MTO is the market rate and

advancement is relatively fast, taking as little

as four years to make partner. The firm’s

commitment to over-achieving intellectual

lawyers might be said to hamper the social

life, although there are weekly lunches and

Friday night gatherings.

Perhaps the most unique feature about MTO

is the democratic nature of its management.

As mandated by the firm’s seven founders

in 1962, partners and associates alike share

an equal vote when it comes to making deci-

sions. The only downside to such a system

is that decisions might take longer to make

than in a more hierarchical firm. Neverthe-

less, for those seeking to work in a stimu-

lating, intellectual environment and have

considerable say in their firm’s direction,

MTO might be just the place.

Munger, Tolles & Olson [Marty Schultz-Akerson]

Resisting the urge to grow at the rate of some of its peers, Munger Tolles has nonetheless earned a stellar reputation for its top-notch litigation department

and its commitment to hiring the best and brightest.