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Legal Current

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Legal Executive Institute

Demand for Law Firm Services Endures Largest Quarterly Drop Since 2009: Peer Monitor Index

The Q2 2020 Thomson Reuters Peer Monitor Economic Index (PMI) report showed the large law firm market struggled in the second quarter as a result of stay-at-home orders, court closures and broader economic slowdowns. The PMI dropped by six points to 51, with demand for law firm services enduring its largest quarterly drop since 2009, …

  • August 10, 2020
  • Carrie Brooker

July 16: A Men of Color Town Hall

Thomson Reuters Institute will host a virtual town hall to address issues on racial injustice and police brutality on July 16. “Beyond Inflection: A Men of Color Town Hall” aims to advance conversations on race and is a collaboration between Thomson Reuters, ABA Young Lawyers Division Men of Color Project and the National Bar Association …

  • July 15, 2020
  • Carrie Brooker

Canadian Corporate Law Departments Focus on Combining Effectiveness and Efficiency

Canada looked like a growth market for the legal profession when 2020 began, and as spend was expected to grow, in-house teams’ strategic priorities centered on two core areas: being more effective and efficient. Despite the COVID-19 pandemic and the global economic fallout, these primary goals have largely remained unchanged. These are among the findings …

  • June 9, 2020
  • Carrie Brooker

As COVID-19 Outbreak Looms, Large Law Firm Market Has Strong First Quarter Says Peer Monitor Index

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 …

  • May 11, 2020
  • Carrie Brooker

Competition Growing in UK Legal Market: New Entrants and US Firms Pursue Market Share

The UK legal market has a good track record of growth, with revenues up again in 2018-19. Yet the market faces rising competition from U.S. law firms and alternative legal service providers, including the Big 4 consulting firms. These are among the conclusions of a new 2020 State of the Legal Market in the UK …

  • March 9, 2020
  • Carrie Brooker

Using Artificial Intelligence to Fight Financial Crimes

Amid an explosion of global financial data, combatting financial crimes and managing highly regulated transactions has become increasingly complicated. Earlier this month, a panel at LegalWeek 2020 focused on these complexities, exploring anti-money laundering (AML) trends as well as the state of legal artificial intelligence (AI) solutions in AML compliance and screening. Joseph Raczynski, a …

  • February 20, 2020
  • Carrie Brooker

2019 Highlights: The State of the Legal Market

As 2019 winds down, Legal Current is revisiting milestones and key accomplishments from the Legal business of Thomson Reuters this year. Today we look at the “2019 Report on the State of the Legal Market,” released last January by the Thomson Reuters Legal Executive Institute and the Center on Ethics and the Legal Profession at …

  • December 20, 2019
  • Carrie Brooker

East and West: State of the Legal Market in China 2019 Report

Imitation is often referred to as the sincerest form of flattery. When it comes to the legal market in China, there are perceptions that the Chinese business model for law firms is based on models from the West. There may be some truth to that, but there also are opportunities for firms in the West …

  • March 8, 2019
  • Jeff McCoy

Can Technology Give Firms a Competitive Edge? Dynamic-Static Law Firm Report

Technology is often touted as a game changer, a field-leveler, a way for firms to gain a competitive edge over other firms. Marketing hype aside, is that really the case? The Legal Executive Institute’s Dynamic-Static Law Firm Report looked at Peer Monitor law firm data to see if use of technology helped firms perform better. …

  • February 6, 2019
  • Leonard Lee

Which Firms Are Gaining Ground? Dynamic-Static Law Firm Report

In an era of low growth, the law firm market is increasingly close to a zero-sum game where one firm’s gain is at the expense of the market share of another firm. The Legal Executive Institute’s Dynamic-Static Law Firm Report analyzes the difference between dynamic growing firms and firms that are more static and flat. …

  • November 19, 2018
  • Leonard Lee
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Press Releases

Anti-Money Laundering Compliance Leaders Addressing New Requirements with Technology, Staff
MINNEAPOLIS-ST. PAUL, October 24, 2018 – The commencement of anti-money laundering (AML) requirements for financial institutions issued in May 2018 has caused increasing numbers of firms to shift their... Read more ...
Oct 24, 2018
Thomson Reuters Unveils New Legal Research Platform with Advanced AI: Westlaw Edge
MINNEAPOLIS-ST. PAUL, July 12, 2018 – Thomson Reuters today introduced Westlaw Edge, the latest advancement in legal research, providing legal professionals with the next generation of AI-driven legal search,... Read more ...
Jul 12, 2018
Thomson Reuters Legal Tracker LDO Index Notes Budget Squeeze, Prioritization of Cost Controls and Technology
Report details focus on legal operations, workload increase EAGAN, Minn. June 25, 2018 – For many corporate legal departments, budgets are not keeping up with the growing volume of... Read more ...
Jun 25, 2018

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