The 2023 Report on the State of the Legal Market explores the outlook for the year ahead, examining how factors including rising expenses, falling demand and productivity, shifting client outlooks, and inflation are shaping the industry. Since the report’s release in January, findings have sparked conversations as journalists, bloggers, and industry influencers weigh in on …
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2023 Report on the State of the Legal Market: Reactions from the Legal Industry
Journalists, bloggers, and industry influencers are interpreting findings of the 2023 Report on the State of the Legal Market, issued last week by the Thomson Reuters Institute and the Center on Ethics and the Legal Profession at Georgetown Law. They’re focusing on findings showing a drop in demand for services, an uncertain economic outlook, lower …
2023 Report on the State of the Legal Market: 10 Takeaways
A year of uncertainty awaits law firms, with multiple factors threatening profitability, including falling demand and productivity, rising expenses, shifting client outlooks, and inflation. These are among the findings of the 2023 Report on the State of the Legal Market, issued today by the Center on Ethics and the Legal Profession at Georgetown Law and …
Should I Stay or Should I Go? Insights on Law Firms and Lawyer Retention
Clear opportunities for career growth and supportive firm management outweigh compensation and workload for attorneys deciding whether to remain at their current firms or pursue other opportunities. That’s among the findings of the Law Firms Competing for Talent in 2022: Will Lawyers Stay or Will They Go? report published today by the Center on Ethics …
Webinar Will Offer In-Depth Look at Findings of Report on the State of the Legal Market
The legal industry’s intense talent war is driving up costs for firms, but the uptick in compensation isn’t decreasing record-high attorney turnover rates. Join Thomson Reuters and the Center on Ethics and the Legal Profession at Georgetown Law for an in-depth look at this and other findings of the 2022 Report on the State of …
Reactions to the 2022 Report on the State of the Legal Market
Last week, Legal Current shared the five key takeaways from the 2022 Report on the State of the Legal Market, which explored why law firms can’t just keep throwing money at the growing talent war. Today, we highlight takes from journalists, bloggers and industry influencers on the report findings. Many focused on the industry’s retention …
Alternative Legal Service Providers Are Becoming Mainstream and Less “Alternative”
Alternative legal service providers (ALSPs) have accelerated their growth to a nearly $14 billion market share globally and are quickly becoming a mainstream segment of the legal market, a new study from Thomson Reuters Institute, the Center on Ethics and the Legal Profession at Georgetown Law and the Saïd Business School at the University of …
2020 May Have Been a “Tipping Point” for Law Firms: 2021 Report on the State of the Legal Market
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 …
Firms Need To Re-Evaluate Strategies in a Rapidly Shifting Market: Georgetown Law & Legal Executive Institute Report
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 …
Alternative Legal Service Providers Are About Specialized Expertise, Not Just Costs, Says New Study
The emergence of alternative legal service providers (ALSPs) is having a notable – and growing – impact on the legal market. The implications for law firms and corporations, and where the ALSP market is heading, was the subject of a comprehensive new study of ALSPs that was discussed at a panel today at Legal Tech …
