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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Q3 LFFI Analysis: As law firms’ transactional practices continue their comeback, will M&A join the party soon? - Thomson Reuters Institute

In Q3, the robustness of the legal industry was such that the LFFI reached its second-highest score of all time, but what is driving growth?
5 min

The declining case for old school lawyer productivity metrics - Thomson Reuters Institute

As artificial intelligence changes the way lawyers practice law, law firms also should change how they measure their lawyers' performance.
5 min

Q3 2024 LFFI: Firms’ profits reach new heights on wave of resurgent demand - Thomson Reuters Institute

Law firms look solid as they near the end of the year, balancing expansion with productivity gains, and expense growth with revenue growth.
5 min

Legal practice management

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Pricing legal technology and the impact on the role of the pricing professional: Changing roles and skills - Thomson Reuters Institute

In a new blog series, we look at the potential changes in how legal services are priced and how that will impact law firms’ pricing teams.
7 min

Law Firm COO & CFO Forum: The state of the US legal market - Thomson Reuters Institute

A panel of law firm executives and general counsel outlined what they see as the key issues that will impact the US legal market in 2025.
6 min

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

Legal marketplace

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Law Firm COO & CFO Forum: Preparing for the law firm of 2034 - Thomson Reuters Institute

A recent panel of legal leaders looked at what the future holds for law firms and what it is going to take to get them there successfully.
8 min

AI for Legal Aid: How to empower clients in need - Thomson Reuters Institute

In this second part of this blog series, we look at how AI-driven technologies can empower those legal aid clients who may be most in need.
6 min

AI for Legal Aid: How to supercharge legal services organizations - Thomson Reuters Institute

How can legal aid service groups leverage AI-driven technology tools to better pursue their missions of justice and service to those in need?
6 min

Legal talent & inclusion

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Organizational Resilience: The process of building resilience within your company - Thomson Reuters Institute

In our latest blog series, we look at how leaders can build organizational resilience to better foster sustainable change in their companies.
6 min

Law Firm COO & CFO Forum: Finding answers for the challenging labor economy - Thomson Reuters Institute

While it may have shifted, the war for talent hasn’t ended as told by an expert panel at a recent Thomson Reuters Institute forum last week.
6 min

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

Legal technology

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Getting the best of GenAI: How to use prompt engineering - Thomson Reuters Institute

Effective use of GenAI requires mastering prompt engineering, which involves crafting clear & specific instructions to guide AI for accuracy.
5 min

Why data transformation is no longer the only imperative for AI’s longevity and adoption - Thomson Reuters Institute

No longer a one-and-done, data auditability must be designed for automation & continuous iteration that’s now needed for all forms of AI fuel
7 min

Pricing legal technology and the impact on the role of the pricing professional: Managing expectations - Thomson Reuters Institute

How can pricing professionals best manage their firms’ expectations and promote “fair value” in the way tech-driven legal matters are priced?
6 min

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