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This year may have started off strong for the law firm industry, but discussing the first-quarter results in the midst of the COVID-19 pandemic feels like writing a history paper. There were a number of positive signs of what this year could have been. We saw a trifecta of strong demand, rate and revenue growth. We also saw modest expense growth—in stark contrast to the first quarter of 2019. However, as we inch toward the mid-point of the second quarter, we know that firms find themselves in a much different environment.

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