While many UK small and medium law firms have adapted to – and even thrived during – the challenges of the past year, they face the same pressures as at the end of 2019: managing high fixed expenses, increasingly demanding clients, regulatory changes and talent shortages. The Thomson Reuters UK Small and Medium-Sized Law Firm …
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Law Firm Market Continues to Recover: Q1 Peer Monitor Index
The law firm market continues to show encouraging signs as it recovers from the effects of the COVID-19 pandemic. The Thomson Reuters Peer Monitor Economic Index found that demand for legal services dipped slightly in Q1, falling 1.0%. However, that was in comparison against Q1 2020 which was a strong quarter prior to the economic …
Employment Law Insights: How to Use Vaccine Passports Legally
As COVID-19 vaccinations bring us closer to a new normal, law firms and corporations are making decisions around when and how to safely return to the office. Among the issues human resources departments are considering is the concept of a COVID passport. Barbara Harris, Practical Law senior legal editor of Labor & Employment, Thomson Reuters, …
May the 4th: Space Law Resources on Westlaw Edge
In honor of May the 4th – inspired by a pun of the iconic Star Wars phrase, “May the force be with you” – Legal Current is exploring space law and how lawyers and lawmakers can keep pace with space explorers and entrepreneurs. Space law isn’t a topic for science fiction fans; it’s big business, …
Insights from Legal Geek’s Uncertain Decade Summit: Financial and Practice Management APIs
Among the hot topics at Legal Geek’s Uncertain Decade Summit – 24 hours of workshops, networking and thought leadership spread across the London, New York and Sydney time zones – are how law firms are integrating APIs into their practice. Gerry Lattimer, senior product manager, Thomson Reuters, will present the session Connecting Financial and Practice …
Earth Day Insights: How Lawyers Are Fighting Climate Change
Thomson Reuters has long supported The Chancery Lane Project (TCLP), a collaborative effort of lawyers worldwide working to develop new contracts and model laws to help fight climate change. Today TCLP is announcing the publication of 21 new clauses and three new model laws, bringing the total number of free clauses to 71. The clauses …
Thomson Reuters State of the UK Legal Market 2021: Client Relationships Are Critical
While a firm’s reputation for quality and technical expertise still matter, clients are increasingly looking for law firms willing to invest in building long-term trusted relationships and a deep understanding of their business operations. At the same time, the ongoing disruptions in the legal market are resulting in renewed pricing and competitive pressures. These are …
Thomson Reuters Insights from CodeX FutureLaw: Thomas Kim on AI Ethics
The Stanford Center for Legal Informatics’ CodeX FutureLaw conference annually brings together the academics, entrepreneurs, lawyers, investors, policy makers, and engineers spearheading the tech-driven transformation of the legal system. Jenny Martinez, dean of Stanford Law School, and Thomas Kim, chief legal officer and company secretary of Thomson Reuters, opened the conference with welcoming remarks. The …
Do Midsize Firms Have a Competitive Advantage? 2021 Report on the State of the Midsize Legal Market
Midsize firms may possess competitive advantages as the legal market emerges from the disruptions caused by the global pandemic. The 2021 Report on the State of the Midsize Legal Market from the Thomson Reuters Institute looks at how midsize firms weathered the challenges of 2020, and the opportunities that may lie ahead. Midsize firms proved …
Insights from the Thomson Reuters Legal Geek Takeover: AI Ethics
Thomson Reuters recently hosted a Legal Geek takeover, a half day of virtual sessions on legal innovation, technology and trends. A highlight of the event was the AI Ethics session hosted by a Thomson Reuters team – Andrew Fletcher, director of TR Labs; Milda Norkute, senior designer; and Nadja Herger, data scientist – along with …