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Prospering in the 'New Normal'
Over the past several months, the following headlines have appeared in the legal press:
- “Demand for attorney services has declined for the third consecutive quarter”
- “RPL grew at a 1.5% increase YoY from 2016 to 2017 in the AmLaw 100”
- “37% of General Counsel plan to expand their in-house legal staff in 2018”
While 2017 was a good year for some of the top firms in the AmLaw 100, for many mid-sized and AmLaw 200 firms, it was a flat to down year. The first quarter of 2018 continues the trend with the top AmLaw 100 firms seeing a .4% increase in demand while the legal market in general declined by .5%. It would appear that the old phrase “bigger is better” applies to this year's legal market.
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