“Now let me welcome everybody to the Wild Wild West A state that’s untouchable like Eliot Ness” -Tupac Shakur Is the practice of law in west coast states really untouchable? Rules on law firm ownership and nonlawyer ability to provide legal delivery services could be changing in some western American states, ushering in possibilities of …
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Growth of ALSPs: A Conversation with Brian Peccarelli
The increasing use of alternative legal service providers (ALSPs) is redefining the legal space, and the July/August 2019 issue of The Practice, from Harvard Law School’s Center for the Legal Profession, focused on this change. It featured an interview with Brian Peccarelli, chief operating officer of Customer Segments for Thomson Reuters. He shared his perspective …
Large Law Firm Market Rebounded Slightly in Second Quarter
The large law firm market regained its footing somewhat in the second quarter. After a weak start to the year, demand rebounded in Q2 and rate growth remained strong, lifting the Thomson Reuters Peer Monitor Economic Index (PMI) three points to 53. However, productivity continues to fall, dampening profitability. Demand for law firm services rose …
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 …
Can Midsize Firms Compete with the Largest Firms?
The sheer size of the largest firms is often perceived as an advantage, providing more resources, broader geographical reach and other benefits. The “2019 Report on the State of the Legal Market: A View from the Midsize Firms” from the Thomson Reuters Legal Executive Institute concludes that despite these assumed disadvantages, Midsize firms – those …
Law Firm Market Dips in Q4, But Higher For All of 2018 – Peer Monitor Index
The large law firm market pulled back slightly in the fourth quarter, but for the year as a whole, 2018 saw across-the-board improvement in demand, rates and productivity. However, much of the gains were concentrated among the very largest firms. The Thomson Reuters Peer Monitor Economic Index (PMI) dropped seven points to 56 in Q4, …
Large Law Firm Market Has Strong Second Quarter Says Peer Monitor Index
The large law firm market scored a rare triple win in the second quarter, with strong gains in demand, rate growth and productivity. The Thomson Reuters Peer Monitor Index (PMI), which measures the relative health of the U.S. large law firm market, surged ten points to 62, its highest reading since 2011. Demand for law …
Thomson Reuters Firm Central Enhancements Help Improve Small Law Firm Performance
Solo and small firms looking to manage their law practice and client matters more efficiently are finding a solution with the newly enhanced Thomson Reuters Firm Central, a leading cloud based management solution. The new performance dashboard provides views of key metrics and financial reports. Firms can utilize Firm Central to quickly and easily view …
Biggest Law Firms Gain, Other Firms Decline in First Quarter, Says Peer Monitor
Demand for legal services at the largest law firms grew in the first quarter, even while overall demand for law firm services slumped, according to the Q1 2018 Peer Monitor report. The segment of the market made up of the largest firms – the Am Law 100 – had a strong quarter, with demand growing …
Strong Fourth Quarter for Law Firm Market
The large law firm market had a surprisingly strong fourth quarter as demand, rate growth and productivity all rose in the same quarter for the first time in almost five years. The Thomson Reuters Peer Monitor Index (PMI), which measures the relative health of the U.S. large law firm market, rose a sharp 11 points …
