Graphic by The Tilt Institute Will the Legal Industry Experience a K-Shaped Recovery Too?
Many economists today predict a K-shaped recovery for 2021: some sectors of the economy will bounce back quickly and sharply as we enter a post-pandemic world, rapidly returning to pre-COVID heights (if not higher).
January 15, 2021 at 11:37 AM
9 minute read
The original version of this story was published on The Legal Intelligencer
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Many economists today predict a K-shaped recovery for 2021: some sectors of the economy will bounce back quickly and sharply as we enter a post-pandemic world, rapidly returning to pre-COVID heights (if not higher). Others, such as largescale events or hospitality, for example, will be slow to rebound, facing longer-term repercussions as companies and people simply do not revert to former ways of doing things. For the legal industry, much of which has suffered more of a minor scratch than a major blow in 2020, what does 2021 have in store? It depends. Some legal service providers will thrive, even flourish, in the coming years. Others, mirroring the K-shaped model, will have decidedly bleaker outlooks. How can a firm know its fate?
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