Law firms that hope to succeed in the future need to embrace the shifting realities of the marketplace now, according to a new report that serves as the latest in a string of warnings that the legal sector will never return to its pre-recession heyday.
Jointly produced by the Center for the Study of the Legal Profession at Georgetown University Law Center and Thomson Reuters Peer Monitor, the report draws on a variety of other studies conducted over the past year on such subjects as partner compensation, law firm composition, and demand for lawyers to paint a portrait of an industry in flux.
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