By Patrick Smith | August 28, 2024
The initial list of six approved investment firms will limit the fresh opportunities for Big Law, but expect more chances for dealmakers to unfold over time.
By Andrew Maloney | June 26, 2024
About 86% of large firms in the U.S. and U.K. expect to increase billing rates over the next 12 months, according to new survey results.
The American Lawyer | Analysis
By Justin Henry | May 23, 2024
Observers in the legal tech industry speculate that firms' caution stems from a commitment to a profitability model dependent on high leverage and hourly billing.
The American Lawyer | Analysis
By Justin Henry | May 22, 2024
"The market is the reality and you have to live in that reality. You can't have your head in the sand," said industry expert Peter Zeughauser.
The American Lawyer | Analysis
By Justin Henry | April 23, 2024
Risk-averse corporate legal departments view the potential hazards of switching from a trusted outside counsel as too great, according to Kris Satkunas, director of strategic consulting at CounselLink.
By Hugo Guzman | January 22, 2024
Since the financial crisis of 2007-2008, "market power shifted decisively from law firms to the clients, rapidly moving from a sellers' to a buyers' market for legal services," a new report from Thomson Reuters and Georgetown Law says.
The American Lawyer | Analysis
By Andrew Maloney | January 17, 2024
The majority of law firms believe write-offs will increase over the next year, even after many firms made these billing adjustments in 2023, according to new results of a survey of firm leaders.
By Andrew Maloney | January 9, 2024
"Many law firms have seen their ability to collect on those increasing rates falter, and clients have become more aggressive about trying to tier work to lower-cost firms," according to a new industry report.
The American Lawyer | Analysis
By Andrew Maloney | November 14, 2023
"This could be a decent year if firms are able to speed up collections from now through year-end. So, that's the big 'if'," noted Citi's Gretta Rusanow.
The American Lawyer | Analysis
By Andrew Maloney | Chris O'Malley | November 10, 2023
Some GCs are voicing concerns about further rate hikes after associate pay raises. But Milbank's chair said the salary raises wouldn't have a material effect on its billing rate decisions in the future.
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