The legal industry reported a prosperous second quarter, with an average demand increase of 1.6% for law firms and worked rates up by 7.4%. The Am Law 100 faced a 0.6% decline in demand, especially in corporate practices, while the Second Hundred and midsize firms showed significant growth in most areas. These trends suggest a possible shift in client preferences towards more specialized and cost-effective legal solutions, indicating changing dynamics in the legal market.
The legal industry experienced an unexpected increase in demand, primarily driven by litigation practices, while corporate practices in the Am Law 100 faced declines.
Average demand for law firms increased by 1.6%, with worked rates rising by 7.4%, indicating a robust performance amidst challenging conditions.
The Am Law 100 faced a 0.6% decline in demand growth, contrasting with accelerated demand performance in midsize firms and the Second Hundred.
The metrics suggest a potential shift in client preferences towards more specialized or cost-effective legal solutions, impacting larger firms negatively.
Collection
[
|
...
]