When the first issue of The American Lawyer was published in 1979, it represented a shock to the system. In its early years, it seemed to draw fans and critics in equal measure for its unsparing coverage of the legal industry's ups and downs and, before long, its financial health. Forty years later, we're still here, writing about shifts both subtle and dramatic within law firms, reporting on the trends that define the business of law, and publishing financial data that goes deeper than ever.

To celebrate our 40th anniversary, we used the occasion to take stock of the incredible evolution the industry has undergone over the course of four decades and sneak a look into the future to anticipate what's in store. We did so with gratitude for the readers who have helped to keep us running all these years—especially those who have been here from the start—and high hopes for the magazine's future.