It was fun while it lasted. In 2007, The Am Law 100, the top-grossing law firms in the U.S., finished the best sustained growth spurt since The American Lawyer began tracking firm financials in 1984. For the first time, firms showed five consecutive years of better-than-average growth in revenue per lawyer and profits per partner. This Golden Age for law firms has been fueled by surging demand for high-end legal services and unrelenting rate hikes. But now, there are signs the great run may be over.
Lessons of The Am Law 100: Is the Golden Age Over?
The American Lawyer
April 30, 2008