So it was not surprising that Mr. Trump targeted Paul Weiss with an executive order last week that created a potential existential threat for the firm, although the order was legally dubious and undercut fundamental principles of the justice system. In response, Mr. Karp began discussions with another big firm about presenting a unified and bipartisan front and challenging the order in court.

But on Wednesday, Mr. Karp walked into the Oval Office around 8:30 a.m., leaving behind the adversarial approach.

Now, he wanted to make a deal.

A day later, Mr. Trump announced that Mr. Karp had agreed to pledge $40 million in pro bono legal services to issues the president has championed, including a task force being run by the Justice Department aimed at combating antisemitism “and other mutually agreed projects.”

The White House said the firm had committed to stop using diversity, equity and inclusion policies. And Mr. Trump said Mr. Karp had acknowledged to him that a former partner of the firm who had worked as a prosecutor in Manhattan and had pushed for Mr. Trump to be charged criminally had committed “wrongdoing.” These assertions appear inconsistent with a copy of the statement that Mr. Karp shared with his firm.

In deciding to bend to Mr. Trump, Mr. Karp likely saved his law firm, which had $2.63 billion in revenue last year and represents corporate clients like Exxon Mobil and Apollo Global Management, from hemorrhaging clients and lawyers.

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