The Cravath System is a set of business management principles first developed at Cravath, Swaine & Moore. John Oller, author of White Shoe, credits Paul Drennan Cravath with creating the model in the early 20th century, which was adopted by virtually all white-shoe law firms, fifty years before the phrase white shoe came into popular use.[1] The Cravath System has been adopted by many leading law firms,[2][3] strategy consulting agencies, and investment banks in the United States.
Paul Cravath built a reputation handling complex lawsuits for the new electrical industry. Devising the Cravath System, he enlarged the law office, and also professionalised it by establishing full-time librarians, a recruiting system focused solely on the highest-ranked law schools, and partners who specialized.[4] Robert Swaine describes the fundamentals of the Cravath System in the beginning of Volume 2 of the history of the Cravath firm.[5] These include:
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