(Credit: iQoncept/Adobe Stock) Big Law Has 'False Sense of Security' as Clients Depart for Midsized Firms
Since the financial crisis of 2007-2008, "market power shifted decisively from law firms to the clients, rapidly moving from a sellers' to a buyers' market for legal services," a new report from Thomson Reuters and Georgetown Law says.
January 22, 2024 at 07:34 AM
5 minute read
Law Firm Client Relationships
The original version of this story was published on Corporate Counsel
Legal departments are aggressively shifting work from the Am Law 100 and Am Law Second Hundred to less expensive law firms, a new study found, a trend that began to take root during the 2007-2008 financial crisis but was partly masked by a decadelong boom in transactional work.
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