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January 14, 2014

Law firm health

by Dan Rodriguez

Report on report from Hildebrand consultant on law firm health.  Generally positive news as law firms show recovery during 2013.  Report notes, however, that this recovery is unevenly distributed.  Also notes that law firms are increasingly turning to mergers and lateral hiring to bolster their productivity and success.

Although it comes near the end of the report, one notable takeaway is the increase in alternative billing arrangements.  It will be very interesting to see whether and to what extent this trend continues in the coming year.  If so, this portends a fairly significant structural change in the economics of the large law firm.

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