Is the legal industry languishing or booming? It depends on where you look, and whom you ask.

According to the 2017 Report on the State of the Legal Market, released at the beginning of the year by Georgetown Law’s Center for the Study of the Legal Profession and the Thomson Reuters Legal Executive Institute, many U.S. law firms have spent the last decade treading water in terms of profitability. The consensus among firms seems to be that we’re in a market slump, with revenue at a plateau, and client demand and attorney productivity in decline.

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