U.S. companies are opening up their pocketbooks to support diversity. The 25 companies in the National Association of Minority- and Women-Owned Law Firms (NAMWOLF) Inclusion Initiative have promised to spend $139 million on retaining outside counsel from law firms owned by women and minorities. Participating companies include Microsoft Corp., Google Inc., McDonald’s Corp. and Aetna Inc.
This is an important step in addressing the lack of diversity in the legal profession. In the U.S., only 6.56 percent of law firm partners are minorities, and just 2.04 percent are minority women.