Midsize law firms showing vigor

A glass building in downtown Greensboro,North Carolina. Notice the reflection on the glass.

An outfit that calls itself “MidLaw” and extols the virtues of midsize law firms probably has an obligation to call attention to January 12’s Georgetown Law Thomson Reuters “2017 Report on the State of the Legal Market” wherein it is reported (pages 13 and 14) that

midsize firms saw a consistent upward trend in demand growth and fees worked, as well as an improvement in productivity from the beginning to the end of the [last 3 years]. … One possible interpretation of these results is that clients, while still directing some types of work to high-end, fairly specialized, premium firms (like the AmLaw 50) are increasingly willing to move substantially down market to smaller firms (midsize firms) in order to achieve significant price savings.

For purposes of discussion, MidLaw is going to be large-minded about these references to what is “high-end” and what is “down market.” We could have found more directionally accurate terms.

Much in the 18-page report confirms what you’ve heard here at MidLaw for years in multiple posts.

 

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