Tuesday 19th Dec 2023
As the pace of legal technology innovation increases, Thomson Reuters announced today it is entering into a partnership with global law firm Morgan Lewis to collaborate on new artificial intelligence (AI) driven legal products. Through the partnership, Morgan Lewis will provide feedback to help shape new Thomson Reuters products. “We’re committed to providing the best ...
Friday 16th Sep 2022
A lot of attention has been paid lately to lateral hiring and associate compensation, but changes are also taking place in law firm staffing. Thomson Reuters Institute recently completed its annual analysis on law firm staffing ratios. Today, we’ll talk about what the new trends are with Isaac Brooks, senior industry data analyst, and Natalie ...
Thursday 28th Oct 2021
As Osborne Clarke moves swiftly to digitally unify its future-focused international legal practice of more than 925 lawyers across 25 worldwide locations, it is adopting Thomson Reuters 3E Cloud and 3E Cloud Care to provide global enterprise business management. “The investment in 3E demonstrates our commitment to a cloud-first IT strategy that provides our people ...
Thursday 7th Oct 2021
The legal industry continues to rebound from the effects of the pandemic, but much uncertainty still remains. The Thomson Reuters Peer Monitor Index hit a record high in the second quarter as demand returned to pre-pandemic levels or higher, and law firm profitability soared. But questions about the direction of the economy and global trade ...
Monday 10th May 2021
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 ...
Tuesday 2nd Feb 2021
Law firms finished 2020 on an optimistic note. Weakness in demand moderated, rates remained high, and firms were able to reduce several key costs. As a result, the Thomson Reuters Peer Monitor Index (PMI), which measures key law firm performance indicators hit a near-record high in the fourth quarter of 2020. Demand for law firm ...
Tuesday 12th Jan 2021
While 2020 brought unprecedented challenges for law firms, history may look back and see the year as a “tipping point” that accelerated significant changes in the law firm market. The 2021 Report on the State of the Legal Market from the Center on Ethics and the Legal Profession at Georgetown University Law Center and the ...
Monday 9th Nov 2020
For many American law firms, the second quarter was an abrupt shock to the system. Yet it also provided ample time to chart a path forward, and firms did just that in the third quarter. The decline in demand for law firm services moderated in the third quarter as rates rose and firms took steps ...
Thursday 22nd Oct 2020
What separates the top-performing law firms from the rest of the pack? A new study looks at some of the differences. The 2020 Dynamic Law Firms Report from Thomson Reuters Institute, Peer Monitor and Acritas, part of Thomson Reuters, looked at the top quartile of law firms, as measured by overall firm profits, revenue per ...
Tuesday 18th Aug 2020
Thomson Reuters HighQ today rolled out version 5.4 of its cloud-based productivity solution. The new version seamlessly integrates Contact Express into a single solution, allowing more powerful document automation. Contract Express templates can be used to generate and store documents natively within HighQ, enabling the user to integrate and establish workflows, collaborate, co-author, and utilize ...
Tuesday 23rd Jun 2020
As recently as a few months ago, it would have been inconceivable that law firms would be forced to support entirely remote workforces. But over the recent months, that’s exactly what’s happened. On top of it, clients are facing their own challenges, and their expectations are not diminishing. As a result, firms have been and ...
Monday 11th May 2020
The Q1 2020 Thomson Reuters Peer Monitor Economic Index (PMI) report, found the large law firm market saw strong growth in demand and rates in the first quarter, setting a robust foundation at the onset of the COVID-19 outbreak. It’s important to note that the bulk of the social and economic impact of the outbreak ...
Tuesday 7th Apr 2020
Law firms, as well as their attorneys and staff, are facing unique circumstances and firm leaders are dealing with new challenges in managing their business, as well as their employees. The Thomson Reuters Institute is presenting a series of webinars to help law firm leaders navigate in uncertain times. Together, these webinars can offer valuable ...
