By Zach Warren for Reuters While many corporate law departments see their outside law firms’ innovation efforts as inadequate, most law firms are still slow to change. It’s not a secret that corporate law departments have been increasingly focused on operations and technology. In fact, legal operations are cited as corporate law departments’ most strategic […]
Category: Market News
Opinion by Hy Pomerance, Vinson & Elkins, for Bloomberg Law As flocks of new lawyers entered the legal profession over the past three years, many law firms have faced challenges in training, retaining, engaging, and developing this new generation. The lessons that firms take from these challenges—and the solutions they develop in response—will have a […]
By Xiumei Dong for Law360.com After five consecutive months of growth, the legal industry experienced a slight drop in employment in March, with the sector losing about 600 jobs, according to data released by the U.S. Bureau of Labor Statistics. Approximately 1,180,900 people were employed in the legal industry last month, a 0.05% decline from the 1,181,500 […]
By Jessie Yount for Law.com Competition for midmarket deal work is heating up. Falling demand in corporate practices has meant a return to more modest transactions for Am Law Second 50 firms that seized big-ticket deals in the deal boom of 2021, according to firm leaders and industry consultants, and increasingly, large firms are looking […]
By Justin Henry for Law.com With so many antiquated fixtures in the legal industry colliding with new trends like artificial intelligence, data-harvesting and an altered relationship professionals have with their careers, the legal business is ripe for disruption. But while the disruptive forces are timely, the reasons behind them are familiar: pricing pressure from consumers of legal […]
By Justin Henry for Law.com Legal consultant Marcie Borgal Shunk became certified to use a proprietary tool to measure business culture a decade ago. But it wasn’t until last year that a law firm hired her to measure its culture using the Chicago-based cultural inventory tool developer Human Synergistics. Cultural inventories have been more of a […]
By Lisa Willis for Law.com Attorneys use business cards almost more than any other profession in America. They come second to Realtors, according to a recent survey by one national business card printer. With just under 10 billion business cards printed annually, 8 billion will be tossed within a week. That’s 88% of cards printed, according to CreditDonkey. That’s […]
By Habiba Cullen-Jafar for Law.com “Nobody can work like that,” said an in-house lawyer, remarking on her time working in private practice. The lawyer, who switched to an in-house role soon after qualifying at a top law firm, believes that the private practice “bubble is going to burst” due to unsustainable working practices, chiefly long and […]
By Dan Roe for Law.com By now, most firm leaders agree that the last three years fundamentally changed the practice and the way they look at most things, including associate development and mentorship. At the management level, most also seem to think that the shift to remote work had some impact on associates’ practical and […]
By George Nellist for Digital Journal.com Over the years, tech advancements have changed the way businesses operate, reshaping and revolutionizing one industry after another. However, technological progress hasn’t impacted all areas of activity equally, which is why certain sectors have been lagging behind in this respect, and the legal industry is a good example of […]