Defying Gravity? Boutiques and Midsize Litigation Practices Avoid Demand Declines Seen Across the Legal Industry
Demand for legal services contracted by 0.1% last year across all practices, according to a new study from Georgetown University and Thomson Reuters reports. Although demand for litigation services from Am Law 100 firms was off by 2% year over year, it was up at midsize firms by 1%.
January 12, 2023 at 07:30 AM
6 minute read
The folks at Georgetown University and Thomson Reuters published their annual report on the state of the legal market earlier this week. Although it's a must-read for law firm leaders, it's not exactly what you'd call a pleasure read given the current state of play.
Here's how my Law.com colleague Andrew Maloney summed up the findings:
High expenses, high associate pay and lower profits per partner may force law firms to make "increasingly difficult decisions" this year and beyond, according to a new report.
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