Legal Services Industry Mid-Year Report Tells a Compelling Story
The “story” of the legal services market looks to be a pretty compelling summer read this year. The upbeat part of the story is that the law firm market is showing renewed signs of strength, by some measures enjoying its strongest first six months in years. But the true page–turning element is that the entire framework of the legal services industry is in the process of being rewritten. Not in all-splashy, attention-seeking ways, but rather in small strokes from various participants.
The 2018 Midyear Report: What’s the Story? from the Legal Executive Institute does just that. The report takes a look back on the first part of 2018 and observes how the story of the legal services industry seems to be shaping up for this year and beyond, including two surprises in the midyear performances of law firms, as seen through the eyes of Peer Monitor. For example, following several years of steady decline, average demand for litigation has turned positive for the first time since 2012.