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 …
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Mike Abbott
Thomson Reuters Peer Monitor Index: Talent Wars Are a Drag on Law Firm Performance
The large law firm market continues its strong recovery – with high marks for demand, rates, and productivity – but the intensifying war for talent is a growing drag on law firm performance, according to the Thomson Reuters Peer Monitor Economic Index (PMI), released today. The third-quarter 2021 PMI, a composite index of law firm …
Discussing the Outlook for the Legal Industry
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 …
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 …
Drop in Demand for Law Firm Services Moderates in the Third Quarter: Peer Monitor Index
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 …
2019 Highlights: HighQ and Acritas Join Thomson Reuters
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 two important acquisitions: HighQ and Acritas. HighQ, which offers a secure, cloud-based platform for business collaboration, workflow automation and client engagement, joined Thomson Reuters in July. When the deal was …
Thomson Reuters Acquires Acritas
Thomson Reuters has acquired Acritas, a market analysis, research and advisory services business serving the global legal market. Thomson Reuters has worked extensively with Acritas and we have much in common – most notably a shared passion and commitment to deliver market insights and industry-leading thought leadership that benefits our clients. “We are excited to …
#AALL19: Fostering the NextGen Library Professional
“As client needs, expectations and behaviors are changing, we are seeing many firms adopt highly innovative approaches to drive greater efficiency, predictability and cost-effectiveness. Clients have more choices than ever for meeting their legal needs, and leading firms are now tailoring their strategies and delivery models to provide legal services in the manner that most effectively …
#AALL 2019: Q&A with Mike Abbott, Thomson Reuters
The nation’s capital will serve as host to the 2019 American Association of Law Libraries (AALL) annual meeting and conference, where legal information professionals from across the world will gather. Thomson Reuters is proud to continue its involvement and sponsorship of AALL, the annual meeting and the numerous local and regional chapters. Legal Current recently …
Positioning Your Law Department to Stand Out
Today’s corporations need their law departments to provide legal support that enable them to maximize their competitive advantage, while simultaneously safeguarding against unnecessary risk. As in-house counsel contend with complex issues such as data privacy and regulatory compliance, they also need new approaches, such as effective project management and greater collaboration between in-house teams, outside …