The hollow middle: the US firms struggling to establish their unique selling point
If you aren't high-end or super cheap, are you a firm clients will come to? This year's Am Law 200 rankings highlight the challenges facing middle-ground US law firms
The Am Law 200 reversed course in 2016, posting gains in gross revenue after experiencing a decline in 2015. But that average gain of 1.2%, coupled with similar increases in revenue per lawyer and profits per equity partner, masked some weakness in many firms’ results. As this analysis shows, a ‘hollow middle’ is emerging
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