The report highlights that while 2024 was a lucrative year for law firms, sustaining such high growth levels is hard, leading to an anticipated demand decline in 2025.
According to the report, the upcoming U.S. presidential election could influence demand positively as clients often seek legal counsel during periods of significant economic and geopolitical instability.
The analysis suggests that 2024's boom resulted from a unique convergence of transactional and counter-cyclical practices, which might not be replicated in 2025.
However, elevated expense growth rates are likely to put pressure on profits moving into 2025, overshadowing potential demand increases from the election.
#legal-industry #law-firm-growth #economic-outlook #transactional-practices #us-presidential-election
Collection
[
|
...
]