Tuesday 19th Feb 2019
The sheer size of the largest firms is often perceived as an advantage, providing more resources, broader geographical reach and other benefits. The “2019 Report on the State of the Legal Market: A View from the Midsize Firms” from the Thomson Reuters Legal Executive Institute concludes that despite these assumed disadvantages, Midsize firms – those ...
Tuesday 12th Feb 2019
The large law firm market pulled back slightly in the fourth quarter, but for the year as a whole, 2018 saw across-the-board improvement in demand, rates and productivity. However, much of the gains were concentrated among the very largest firms. The Thomson Reuters Peer Monitor Economic Index (PMI) dropped seven points to 56 in Q4, ...
Tuesday 6th Nov 2018
Litigation remains the largest single practice law for large law firms, despite a steady decline in demand in recent years. Steady decline, that is, until this year. Litigation is seeing a pickup in demand so far in 2018. What is driving this demand? Is litigation back? Or is it just a temporary blip? This new ...
Tuesday 14th Aug 2018
The large law firm market scored a rare triple win in the second quarter, with strong gains in demand, rate growth and productivity. The Thomson Reuters Peer Monitor Index (PMI), which measures the relative health of the U.S. large law firm market, surged ten points to 62, its highest reading since 2011. Demand for law ...
Monday 9th Jul 2018
The large law firm may be becoming more competitive. Firms in the highest-performing segment of the market may be pulling back towards market averages, as their performance gap over the rest of the market has narrowed somewhat. That’s among the findings of The Dynamic Law Firms Study: A 2017 Year-End Update from the Thomson Reuters ...
Monday 14th May 2018
Demand for legal services at the largest law firms grew in the first quarter, even while overall demand for law firm services slumped, according to the Q1 2018 Peer Monitor report. The segment of the market made up of the largest firms – the Am Law 100 – had a strong quarter, with demand growing ...
Monday 12th Feb 2018
The large law firm market had a surprisingly strong fourth quarter as demand, rate growth and productivity all rose in the same quarter for the first time in almost five years. The Thomson Reuters Peer Monitor Index (PMI), which measures the relative health of the U.S. large law firm market, rose a sharp 11 points ...
Wednesday 10th Jan 2018
Many law firms may be unprepared for rapid changes that are transforming the legal market at an accelerating pace. “The 2018 Report on the State of the Legal Market’ from Georgetown Law and the Legal Executive Institute says that new competitors and changing client expectations make it essential for law firms to re-evaluate strategies, even ...
Wednesday 13th Dec 2017
Corporate clients may be evaluating outside counsel and shifting work more frequently than you might think. A new survey from the Legal Executive Institute says more than half (58 percent) of corporate legal departments surveyed say they shift their legal work among law firms at least once every two years. Nearly one in five (18 ...
Monday 13th Nov 2017
The law firm market is becoming increasingly competitive, as described in last week’s Q3 2017 Peer Monitor Index Report. But some law firms are managing to achieve consistent above-market growth, even in this difficult environment. What sets these firms apart? The 2017 Dynamic Law Firms Report examined top-performing law firms and identified several key factors ...
Monday 6th Nov 2017
The large law firm market slowed again in the third quarter, as declining demand more than offset higher rates, according to the (PMI). The PMI, which measures the relative health of the U.S. large law firm market, fell one point to 49. Demand for the large law firm market fell a sharp 1.9 percent — ...
Monday 7th Aug 2017
The large law firm market has largely been split so far this year, with the very largest segment of firms seeing gains, while other segments of the market are facing more challenging conditions. The latest Peer Monitor report shows that through the first six months of the year, much of the strength in the market ...
Tuesday 20th Jun 2017
At VANTAGE 2017 Orlando, Cory Branden with Peer Monitor presented about trends and the true cost of lost productivity: Productivity. It’s a subject that we seem to be talking about all the time over the last few years. Firms want to find a way to utilize the lever and spur greater profitability, while corporate legal departments ...
