Law.com Trendspotter: Mergers and Rate Hikes Are Poised to Create a Whole New Crop of Law Firms
It's the Circle of Law Firm Life: a period of rapid consolidation makes room for a new crop of boutique firms to spring up.
January 31, 2023 at 10:31 PM
5 minute read
Photo: Shutterstock
The Trend:
By the end of 2023, the legal industry landscape will likely be populated with a number of new law firms—and marked by a few notable absences.
The Driver:
The law firm merger market is already quickly heating up and we're sure to see more big names (and smaller names) joining forces across the country throughout the remainder of the year, creating new organizations and potentially pushing some attorneys to seek new opportunities.
Meanwhile, if the years following the Great Recession are any indication, sky-high rate hikes seem likely to inspire a new generation of Big Law partners to branch out with their own boutiques.
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