Thomson Reuters Institute

Legal 
resource center

The Thomson Reuters Institute’s Legal coverage focuses on the business of law, including critical issues of great importance to lawyers, whether within law firms, corporate law departments, or solo practices.

2024 Report on the State of the US Legal Market

In this year's report, we look at the current tumultuous environment for the legal industry and what law firm leaders can do to best navigate through

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Law firm rates in 2024

A new report shows law firms are continuing their impressive run of growth in billing rates; however, potentially softer demand in 2025 may make such continued strong rate growth an important necessity

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Legal data & metrics

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A fantasy draft for lawyers: Redefining performance evaluation - Thomson Reuters Institute

Law firms are often faced with a difficult task of evaluating current lawyer performance, and this hiring season, this issue is critical.
6 min

LFFI Q2 2024 Analysis: What role did GenAI have in Q2’s productivity positivity? - Thomson Reuters Institute

This past Q2 was strong for many law firms, with growth across all key factors that allowed for continued investment in AI-driven technology.
5 min

Building your legal practice’s AI future: The data and other key considerations - Thomson Reuters Institute

As we enter the AI-driven future, firms shouldn't overlook the importance of two key factors: the structure of the data & the client's voice.
5 min

Legal practice management

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Will alternative fee arrangements be the new pricing model for AI-driven legal work? - Thomson Reuters Institute

With GenAI set to disrupt how lawyers work, it may also alter the relationship between corporate law departments and their outside counsel.
6 min

Practice Innovations: Succession planning — one lawyer’s experience - Thomson Reuters Institute

While law firms need to carefully manage the succession process, their exiting lawyers can sometimes add greatly to make succession a success.
5 min

Law firm rates in 2024: New report finds that rates continue strong growth, but could face shifting trends - Thomson Reuters Institute

Law firms are continuing their impressive run of growth in legal rates; however, potentially softer demand in 2025 may hinder strong growth.
5 min

Legal marketplace

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2024 Australia: State of the Legal Market Report — Embracing a new era of legal practice - Thomson Reuters Institute

The FY2024 has seen a significant increase in demand for legal services among Australian law firms, according to a new Thomson Reuters report.
5 min

If lawyers had all the time in the world, what would they do with it? - Thomson Reuters Institute

The real opportunity of generative AI lies not in the work it will replace, but in the opportunity for greater value it will possibly create.
5 min

Forum: Challenges of navigating and negotiating litigation funding - Thomson Reuters Institute

With legal fees up last year, litigation finance has improved access to justice for claimants who may not have the means to pursue litigation.
8 min

Legal talent & inclusion

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Organizational Resilience: The cost of quick fixes amid a solution that works - Thomson Reuters Institute

In a new blog series, we look at the workplace culture crisis to see how leaders need to prioritize organizational resilience to foster change
7 min

How creating a culture of trust & well-being among employees can spark profitability - Thomson Reuters Institute

Employee trust & well-being is a crucial factor for business profitability and organizational resilience, and leaders should invest in that.
5 min

Practice Innovations: Succession planning — the view from the client side - Thomson Reuters Institute

Clients are often overlooked in the succession process of planning for lawyers to leave law firms, and this can create even greater problems.
5 min

Legal technology

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Increasing Access to Justice: Innovations now happening in the nation’s court system - Thomson Reuters Institute

Some legal professionals may have hesitancy around GenAI, but the tools are already in use, transforming courts & expanding access to justice.
5 min

Legal tech’s Onstar: How TurnSignl is changing traffic stops via attorney access - Thomson Reuters Institute

One legal tech startup is taking advantage of the tech revolution by putting access to attorneys in drivers’ hands — or perhaps, their cars.
8 min

A ‘step too far’? Legal, other professional services disagree on whether AI should give advice - Thomson Reuters Institute

While industry professionals largely agree on the ethics of AI, a recent report finds some parties are more willing to allow AI some freedom.
7 min

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