While Big Law firms made it through 2020 in relatively good shape, they made sweeping changes that could dramatically alter business in 2021 and beyond.
Amid the COVID-19 pandemic, firms adopted remote work while cutting overhead and boosting profits. Those lessons will most likely result in bigger technology budgets, more flexible working arrangements, a bigger focus on timekeeping and greater collaboration between firms going forward, according to the 2021 Report on the State of the Legal Market, from the Thomson Reuters Institute and Georgetown Law’s Center on Ethics and the Legal Profession.
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