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Tag Archives: trends

3 Surveys: 2016 another Year in Cautious Optimism for Law Firms

3 Surveys 2016 another Year in Cautious Optimism for Legal

Several surveys at the tail end of 2015 and the beginning of 2016 provide a glimpse at the law firm outlook for 2016.  Below is a summary of three recent surveys, including two by banks, with a flavor for law firm economics. As always we have linked to underlying sources for those interested in delving deeper. 1. Law Firm Leaders ... Read More »

Legal Recruiting Trend: Big Law Firms Eye the MBA

Legal Recruiting Trend Big Law Firms Eye MBAs

An ABA proposal about non-lawyer law firm ownership has renewed controversy in what the WSJ Law Blog characterized as a “long simmering debate.” Reporter Jacob Gershman wrote “those who favor lifting the restriction say it would expand consumers’ access to legal services, spur innovation and reduce the cost of legal help.” On the flip side, he reports, “Giving people who ... Read More »

Meta:  LegalTech Trends in the Context of 3 Mega Trends

Meta Legal Tech Trends in the Context of 3 Mega Trends

LegalTech New York 2015 is indeed a chance to get a “crash course” in legal technology, but there’s also an opportunity to take a step back and consider those tech trends in a macro-sense. Aric Press, the (soon to be retired) editor-in-chief for The American Lawyer, has a delightfully heady piece he published this week that provides precisely that context ... Read More »

Infographic Friday: Law Firm M&A Billings Nearly Double

Infographic Friday MA Billings Nearly Double

M&A is back in the headlines among the legal trades. “In-house counsel and investment bankers agree that the merger and acquisition stars are aligning to create an environment more conducive for deals, according to one M&A expert,” according to ALM’s Corporate Counsel in an article titled Big Deals Put 2014 M&As at $2.5 Trillion and Rising. The Corporate Counsel article ... Read More »

Trending Legal Spending: Examining the HBR Consulting Study

CounselLink Corporate Counsel Analytics

Around the world corporate legal spending grew by 2% in 2013, according to a new survey by HBR Consulting.  How that money is being spent makes all the difference – inside legal spending grew 5% while spending on outside counsel dropped by 2%. A narrower look at corporate legal spending within the U.S. produced similar results.  The survey found that ... Read More »

SlideShare Friday: 5 Key Trends in Legal Software

5 legal software trends

There are many legal industry trends and among those of special interest to this division of LexisNexis are those that revolve around software. At the 2014 ILTA conference the top executive in our software division had an opportunity to present to a core group of customers that had also gathered at the show.  For some in attendance, it was a ... Read More »

YouTube Friday:  M&A Back in Business of Law Vogue

YouTube Friday M&A Back in Vogue

Deal-making is back in styled and the letters “M” and “A” for mergers and acquisitions are again gracing the headlines.  Those headlines also belong to publications focused on law: Wall Street Journal: Elite Law Firms Dominate as Deals Proliferate Bloomberg: Skadden Tops H1 Global M&A Rankings: Business of Law Texas Lawyer: Deal of the Week: $21.4 Million Merger For this ... Read More »

Business Development:  Evolution or Revolution?

Business Development Evolution or Revolution

When competition for mind share and market share is fierce, how do you differentiate your firm to your clients?  This year’s Legal Sales & Services Organization (LSSO) event, held last month in Chicago, tried to address the challenge of how law firms can create value. I had the opportunity to meet with one of LSSO’s co-founders, Beth Cuzzone, to discuss ... Read More »

Infographic Friday:  Job Prospects Brighten for Lawyers

Job Prospects Brighten for Lawyers

It’s been a long hard slog for jobs in the legal sector, especially for newly minted lawyers.  There have, however, been indications that the opportunities are ticking up.  The optimism makes it a good fit for this week’s Friday Share series. Jacob Gershman, penning a post for the Wall Street Journal’s Law blog cited the ABA’s 2013 Law Graduate Employment ... Read More »

SlideShare Friday:  9 Trends Impacting Paralegals

SlideShare Friday 9 Trends Impacting Paralegals

The ABA Journal recently reported compensation for paralegals is on the rise with managerial positions in law firms earning just under $80 per hour.  The average hourly rate earned however, was substantially less, running between $34 and $37 per hour.  According to the data, paralegals at law firms tend to earn slightly more than those working for corporate legal departments. ... Read More »