Sideways Society

Omair Farooqui had always wanted to hang up his own shingle, but he had a good job as a mid-level associate at Manatt, Phelps Phillips. Then he got laid off last June. It was the nudge he needed, and the following month, he and attorney Javed Ellahie announced their new operation. Farooqui is not alone, as several small firms seem to be sprouting up due to large firm layoffs or rising out of the ashes of large firm meltdowns. Some are finding surprising upsides to starting up small firms in a recession.