Law Firm Profitability

PMI Q4 2020 analysis: Lawyer headcount in January 2021 returns to pre-pandemic levels

When the Peer Monitor Index recorded its highest score since 2006 in the fourth quarter of 2020, it showcased the resiliency of traditional law firms…

Isaac Brooks March 04, 2021

How does a lawyer’s business understanding add value for clients?

Business understanding is a critical factor in the client-law firm relationship. It is something that clients consider to be a hallmark of their best relationships…

Lizzy Duffy March 03, 2021

New podcast: The legal market in 2020 and beyond

Throughout the course of 2020, many stakeholders in the legal market found themselves seeking timely, accurate data to help guide decisions with a new fervor.…

Bill Josten February 23, 2021

State of the Legal Market analysis: Occupancy spend at multiyear lows

Like a massive wave, the insecurity and instability that has marked much of the global business world throughout 2020 is likely to leave a drastically…

Isaac Brooks February 16, 2021

Growing ALSP market becoming less “alternative”, says new report

The market for alternative legal service providers (ALSPs) has become an important and growing part of the legal landscape. ALSPs provide both corporate counsel and…

Thomson Reuters Institute February 11, 2021

Mercury Rising: Assessing the 2021 Report on the State of the Legal Market

Thomson Reuters, in partnership with Georgetown University Law’s Center on Ethics and the Legal Profession, is proud to announce the release of the 2021 Report…

The Thomson Reuters Institute February 08, 2021

Rise in worked rates in 2020 fueled by proportional shifts

There is much evidence that the large law firm market finds itself at a crossroads. Evidence of the approach toward a tipping point was laid…

Joe Blackwood February 08, 2021

ON LEADERSHIP: We see our firm as “a community of people who care about each other,” says Norton Rose’s Jeff Cody

We continue our bi-monthly column, On Leadership, created by Rose Ors for the Thomson Reuters Institute. Each installment will feature conversations with law firm leaders about…

Rose D. Ors February 03, 2021

PMI hits near-record high in Q4 as law firms show resiliency

Over the course of the global pandemic in 2020, large law firms implemented multiple strategies to address the industry challenges they were experiencing, leading to…

Thomson Reuters Institute February 02, 2021

Supercharging your clients’ business through the business of law

You are already doing a great job for your clients, but what else should you be doing? This business quandary has never rung truer in…

Michael Caplan February 01, 2021

Rethinking “partners” for law firms: Creating an ecosystem for client value

Whether your law firm has an established presence within the legal industry or is just getting started, competing in a crowded marketplace requires more time,…

Edwin Smith January 26, 2021

CURIOUS MINDS: We want to provide clients with the opportunity to test-drive emerging technologies, says Shruti Ajitsaria, head of Allen & Overy’s Fuse

We continue our monthly column, Curious Minds, created by Rose Ors to tap into the minds of legal innovators, disrupters, and out-of-the-box thinkers to learn…

Rose D. Ors January 20, 2021