For a growing number of firms, the arrow is pointing toward areas that have been slow of late.
After the first year of the pandemic, many law firms doubled down on areas of strength, going deep instead of broad to add market share and bolster their “known-for” offerings.
But even bread-and-butter practices aren’t always at their peak, and in order to stay a step ahead of the market, firms often must keep trying to build them up anyway. Analysts and legal industry observers say firms have recently stocked up in bankruptcy, white-collar work and general litigation, anticipating an upward swing in these practices alongside a potential slump in the larger economy.
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