Data & Metrics

Q1 PMI shows signs that the law firm industry may be stabilizing

The large law firm market continued showing signs of stabilization in the first quarter of 2021, hinting at an ongoing revitalization in the market as…

Thomson Reuters Institute May 10, 2021

3 common traits drive firms to the top of buyers’ minds, new Regional Brand Indexes reveal

When Thomson Reuters Acritas released its Global Law Firm Brand Index back in January, two key themes emerged and were identified as successful factors in…

Lizzy Duffy March 23, 2021

Captive law firm ALSPs provide potential growth engines

To dissect some of the key findings of Thomson Reuters recent 2021 Alternative Legal Service Providers report, it makes some sense to start small, meaning…

Bill Josten March 17, 2021

PMI Q4 2020 analysis: Lawyer headcount in January 2021 returns to pre-pandemic levels

When the Peer Monitor Index recorded its highest score since 2006 in the fourth quarter of 2020, it showcased the resiliency of traditional law firms…

Isaac Brooks March 04, 2021

How does a lawyer’s business understanding add value for clients?

Business understanding is a critical factor in the client-law firm relationship. It is something that clients consider to be a hallmark of their best relationships…

Lizzy Duffy March 03, 2021

Growing ALSP market becoming less “alternative”, says new report

The market for alternative legal service providers (ALSPs) has become an important and growing part of the legal landscape. ALSPs provide both corporate counsel and…

Thomson Reuters Institute February 11, 2021

Rise in worked rates in 2020 fueled by proportional shifts

There is much evidence that the large law firm market finds itself at a crossroads. Evidence of the approach toward a tipping point was laid…

Joe Blackwood February 08, 2021

PMI hits near-record high in Q4 as law firms show resiliency

Over the course of the global pandemic in 2020, large law firms implemented multiple strategies to address the industry challenges they were experiencing, leading to…

Thomson Reuters Institute February 02, 2021

Clients turned to trusted law firms last year, shows Acritas’ 2021 Global Elite Brand Index

The global pandemic that continues to disrupt worldwide business and the legal industry brought into sharp focus the importance for clients to be able to…

Thomson Reuters Institute January 26, 2021

Growth for midsize law firms in 2021: Where to find new opportunities?

Who would have guessed in March of last year that midsize law firms, indeed law firms of all sizes, would see growth in their profits…

Barb McGivern January 19, 2021

2021 Report on the State of the Legal Market: An “inflection point” for law firms

The 2021 Report on the State of the Legal Market, issued today by the Center on Ethics and the Legal Profession at Georgetown University Law…

Thomson Reuters Institute January 12, 2021

Year in review: In Q3 2020, lawyer headcount contracted for first time since 2009

Leading up to the release of the “2021 Report on the State of the Legal Market” on January 12, 2021, we will reexamine the tumultuous…

Isaac Brooks January 07, 2021