Credit: pict rider/Adobe Stock Midsize Firms Punch Above Their Weight to Win Big Clients
Successful midmarket firms understand that flexible, easy-to-use technology creates a competitive advantage, enabling them to win bigger clients and projects and to deliver services that rival those provided by big law firms.
June 16, 2023 at 09:03 AM
6 minute read
It's a great time to be a midsize law firm. According to the Reuters 2022 Report on the State of the Midsize Legal Market, the picture is generally bullish for midsize firms—those below the 200 top-grossing firms in The American Lawyer rankings. Though 2022 saw an overall cooling of demand for legal services, demand for services from midsize firms increased 1.7% in the second quarter of 2022 over the prior year. Real estate, litigation and labor and employment practices were notable growth areas for these firms.
Midsize Firms Win Significant Business
There's a perception that large clients and large cases go to top-tier largest firms, but that's not always how things are. A 2021 Wolters Kluwer report analyzed the assignment of matters with $1 million or more in lifetime legal spend. While Am Law 200 firms did win most of these large matters, midsize firms won 28% of large cases, defying the perception of total dominance by big law.
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