Data Snapshot: A Rising Tide of Competition in Florida's Legal Market
The old adage about politics is that everything is local. When it comes to regional legal markets, though, hardly anything is.
November 26, 2018 at 05:00 AM
2 minute read
The old adage about politics is that everything is local. When it comes to regional legal markets, though, hardly anything is.
Florida is a good case in point. According to data gathered by ALM Intelligence, the number of Am Law 200 firms with offices in the Sunshine State has nearly doubled over the past 15 years. That means Florida's native firms face increasing competition from outside players.
The firms that are going into the Florida market have a broad footprint across the U.S., and sometimes across the globe. In 2017, more than 60 percent of the firms with a Florida presence also had an office in New York; more than 50 percent also operated in Washington D.C.
The increased competition will make winning, and keeping, clients more difficult. It will also make it harder to attract and retain key talent.
Related Stories:
- When Regional Legal Markets Get “Invaded”: The Impact on Local Firms
- Florida Law Firm Leaders Expect Bull Market Heading Into 2019
- Fort Lauderdale IP Team Joins Dickinson Wright
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