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Peer Monitor

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 …

  • January 12, 2021
  • Leonard Lee

2020 Highlights: Peer Monitor Insights on Law Firm Performance in the Pandemic

With an unprecedented and tumultuous year winding down, Legal Current is revisiting how Thomson Reuters thought-leadership reports tracked the progress of the law firm market during 2020. The year kicked off with the 2020 Report on the State of the Legal Market, one of several studies Thomson Reuters publishes throughout the year drawing on Peer …

  • December 21, 2020
  • Carrie Brooker

2020 State of the Legal Market in Europe: Opportunities for Firms Willing to Adapt and Invest

Law firms across Europe had just one major challenge to overcome earlier this year: determining how to succeed in the post-Brexit market. Of course, the COVID-19 pandemic soon topped their list of challenges. To explore how European firms are addressing these twin pressures, Thomson Reuters examined extensive data from Sharplegal and Peer Monitor for the …

  • December 7, 2020
  • Carrie Brooker

ILTA>ON 2020: #CreatingTheFutureTogether

On Day 5 of ILTA>ON, sessions will focus on C-Suite/future-focused themes as well as business and legal process improvement. Two Thomson Reuters speakers will share their expertise and insights: Brent Turner from Thomson Reuters Peer Monitor and Joe Raczynski, manager of Technical Client Management. Many innovative law firms are moving to complement the traditional legal …

  • August 28, 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

Second Straight Year of Growth for Large Law Firms

The large law firm market notched a second straight year of growth in 2019, according to the latest Peer Monitor report. Firms wrapped up what is arguably their best two-year period since the end of the recession, 2019 marked the first two year stretch in more than a decade where demand for law firm services …

  • February 3, 2020
  • Leonard Lee

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

Law Firm Rates Up But Demand Flat in Q1: Peer Monitor Index

While large law firms saw the strongest rate growth in several years in the first quarter, demand growth was flat and productivity fell. The combination dropped the Thomson Reuters Peer Monitor Economic Index (PMI) by six points to 50. Demand for large law firm services slipped 0.1%, however, that was largely a result of weakness …

  • May 14, 2019
  • 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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