Will the good times cease to roll for leading law firms?
With some gloom — though not so much doom — industry observers forecasted a cooling of the legal market over the next five years at the Law Firm Leaders Forum, held Thursday and continuing today in San Francisco. Ever-increasing pressure on rates from clients, rising costs, including the recent hike in associate salaries, and segmentation of the marketplace will make it hard for firms to maintain robust growth — especially of their bottom lines, they said.
