While the final quarter is still on the horizon and economic uncertainty is lingering, law firm performance for 2022 is significantly “baked in” at this point, and it would take a major shake-up to alter course, some industry observers say.

In contrast, law firm leaders and analysts who’ve begun charting a path for 2023 say next year is a big question mark, with uncertainty about whether the deal market will rebound and unknowns such as the U.S. midterm elections and the war in Ukraine, along with stubbornly-persistent inflation that could shape the road ahead.