As recently as a few months ago, it would have been inconceivable that law firms would be forced to support entirely remote workforces. But over the recent months, that’s exactly what’s happened. On top of it, clients are facing their own challenges, and their expectations are not diminishing. As a result, firms have been and …
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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
Webinars: Firm Business Development, Employee Mental Health During a Unique Business Environment
Law firms, as well as their attorneys and staff, are facing unique circumstances and firm leaders are dealing with new challenges in managing their business, as well as their employees. The Thomson Reuters Institute is presenting a series of webinars to help law firm leaders navigate in uncertain times. Together, these webinars can offer valuable …
- April 7, 2020
- Leonard Lee
Falling in Love with the Problem, BCLP Encourages its Associates to Think Differently
Falling in Love with the Problem, BCLP Encourages its Associates to Think Differently By Nick Pryor & Andrew Fletcher How can we create an environment that nudges legal professionals out of their day-to-day and beyond their comfort zone when rethinking their work? At BCLP’s (Bryan Cave Leighton Paisner) 2019 Business Academy, an award-winning technology and …
- March 16, 2020
- Leonard Lee
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
Baker McKenzie, DLA Piper, Clifford Chance Lead Acritas Global Elite Brand Index
Baker McKenzie, DLA Piper and Clifford Chance top the latest Acritas Global Elite Brand Index, as the firms most top of mind and most favored by corporate clients with more than US$1B in global revenues, as well as most considered for multi-jurisdictional deals and litigation. Baker McKenzie has increased its lead atop the index for …
- January 21, 2020
- Leonard Lee
Law Firms Leaders Optimistic About Growth, Unsure About Making Radical Changes
Law firms face numerous challenges, including those coming from clients, from within their own firms, and from the economy in general. But how much change are law firms willing to embrace to meet those challenges? The “2019 Law Firm Business Leaders Report: Outlook for U.S.-Based Local & Regional Firms” interviewed law firm leaders. They are …
- November 5, 2019
- Leonard Lee
Demand for Large Law Firm Services Surges in Q3: Peer Monitor Index
Demand for large law firm services surged in the third quarter to one of its highest levels since the end of the recession. The Thomson Reuters Peer Monitor Economic Index Report (PMI) says the PMI rose three points to 56 — its second consecutive quarterly gain. However, lagging productivity and rising costs dampened profitability slightly. …
- November 4, 2019
- Leonard Lee
Stability Returns to the Large Law Market: Peer Monitor Midyear Report
“It is encouraging to note that we have seen a return to stability in the legal market.” That’s the conclusion of the 2019 Peer Monitor Midyear Report, noting that demand for legal services was modestly higher in the first half of 2019, while rates grew at some of the highest levels seen this decade. Much …
- September 24, 2019
- Leonard Lee
Panoramic, a Bold New Vision: ILTACON 2019
At ILTACON 2019 in Orlando next week, the focus will be on legal operation strategies for today’s transforming legal industry. Today we share a preview of A Bold New Vision for the Way Lawyers Work, one of six panels Thomson Reuters will be involved in at ILTACON. Jill Schornack, Thomson Reuters senior director of Product …
- August 15, 2019
- Leonard Lee