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There’s a paradox at the heart of the legal marketplace: Clients are taking work away from traditional outside counsel and yet premier law firm profitability is at an all-time high. The resolution lies in the number of equity partners. In the decade following the 2007-08 Global Financial Crisis, while the number of in-house lawyers in the United States grew by 50%, the number of U.S.-based lawyers in the Am Law 100 was flat and the number of equity partners declined.
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How to Create a Law Firm Culture That Supports ‘The Hustle’
By Randi Rosenblatt
Whether they practice at global firms consisting of thousands of lawyers or decide to hang a shingle and put their name on the door, lawyers chose a path requiring continuous, never-ending hustle. Not only do they need to master the practice of law, they need to master the art of driving revenue.
Despite Pandemic, Profits At Am Law 100 Firms Leapt to New Heights
By Brenda Sapino Jeffreys
The past year posed new and unusual challenges for U.S. law firms, rattled by economic uncertainty, remote work, stay-home orders and social distancing. Despite the turmoil, profits at the Am Law 100 leapt to new heights.
How Do Business Development Efforts In High-Performing Law Firms Differ?
By Meghan Frank
As firms and their clients continue to navigate ongoing business challenges in 2021, BD and marketing professionals first need to understand how mature their efforts are in specific areas. Then, they can look at what the successful firms are doing differently, so they can position themselves to join those ranks.
Who Benefits, and Who Doesn’t, from Returning to the Office
By Patrick Smith
When the pandemic sent everyone home in March 2020, it was a seismic shift in work, but one that had a clear reasoning behind it, and, oddly, was remarkably uniform in execution for all involved. The return to the office is much more complicated, and it isn’t just about logistics.
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