Law Firm Profitability

Legal Geek’s Uncertain Decade: How does the US & the UK match-up in legal?

In the next decade legal knowledge will be a skill, not a practice. The assumption is that knowledge is table stakes, and technology is now…

Joseph Raczynski June 30, 2020

How not to think about the 2020 Am Law 200

This 3-part series was written by Bruce MacEwen and Janet Stanton of Adam Smith, Esq. “Don’t think of elephants,” runs the childhood taunt, with the…

Thomson Reuters Institute June 25, 2020

The top 5 things law firms hate about RFPs

Request for Proposals (RFPs) are necessary in the legal industry to help corporate clients decide which law firms to select for a panel or for…

Nancey Watson June 23, 2020

Infographic: Canadian legal market beginning to navigate the post-pandemic legal future

As we were entering 2020, Canada looked like a growth market for the legal profession with the country’s largest corporate clients were saying they expected…

Thomson Reuters Institute June 16, 2020

Law firm money woes: Flattening the cash flow curve

We all know that the pandemic has affected every industry in the world, including the legal industry. Already, we’ve seen that law firms are reducing…

Audrey Rubin June 11, 2020

Amid pandemic, Canadian legal industry responding to client pressures, new report shows

The new 2020 State of the Legal Market in Canada report details how a strong legal market with growing international demand has begun responding to…

Thomson Reuters Institute June 09, 2020

Legal Geek’s Uncertain Decade: Can ALSPs provide what clients need?

General counsel (GCs) across the United States and the United Kingdom have varied approaches to the current market conditions, according to recent surveys. Interestingly, at…

Joseph Raczynski June 08, 2020

What can lawyers learn about innovation from SpaceX?

Lawyers are not known for being particularly quick to innovate, particularly when it comes to client service delivery strategies like alternative fee arrangements or legal…

Bill Josten June 05, 2020

PMI Q1 2020 analysis: What’s driving productivity and worked rates?

Prior to the bulwark of broader economic shutdowns, stay at home orders, and court closures, the large law firm market saw strong growth in both…

Joe Blackwood June 05, 2020

Law firm pricing approaches in challenging times

Pricing lessons from the previous global financial crisis little more than a decade ago are still extremely pertinent today for those of us in the…

Stuart Dodds June 03, 2020

Despite the crisis, “law is essential and never going out of fashion,” says Ralph Baxter

Law firms were facing an urgent need to change even before COVID-19 arrived at their collective doorsteps, says Ralph Baxter, and the pandemic and ensuing…

Gregg Wirth June 02, 2020

COVID-19 has been a boon for law firm knowledge management — How do you make it last?

In a Special Edition of our Practice Innovations newsletter, we will be looking at the immediate challenges facing the legal industry and the solutions and…

Jean O'Grady June 01, 2020