Corporate law firms of the future will be wealthier, larger and more international than ever, predicts professor Peter Sherer, who reviewed data going back to The American Lawyer's first survey of firm finances in 1985. Of the 47 firms studied, six will gross more than $10 billion in 2025, and only two will have gross revenues of less than $1 billion. Sherer admits that predictions based on the past are risky, but he also notes that large U.S. firms have seen astonishing growth since the '85 survey.
For Am Law 100 Firms, the Sky's the Limit
The American Lawyer
May 12, 2008