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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.

The 2022 Report on the State of the Legal Market

The legal market has remained resilient throughout much of last year, even though myriad challenges remain for many law firms, our new report shows.

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The 2021 Law Firm Business Leaders Report shows that law firm business leaders remain optimistic

According to the “2021 Law Firm Business Leaders Report” from the Thomson Reuters Institute and Georgetown Law, law firm business leaders may be staying optimistic, but are worried about the current overheated state of legal talent.

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Events

Legal data & metrics

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State of the Legal Market analysis: How inflation’s return may mean 6% or more rate growth for law firms

How will creeping inflation impact law firms' ability to raise their rates, which has become their go-to method of enhancing revenue and profit growth?

2022 Report on the State of the Legal Market: Despite a strong year, numerous & growing challenges confront law firms

The new "2022 Report on the State of the Legal Market" illustrates that the legal market has remained resilient, even though myriad challenges still remain.

Podcast: Law firms should leverage their ESG offerings & strengthen client relationships, says new report

In our new podcast, we discuss the Thomson Reuters Stellar Performance report, including how law firms can improve their client offerings & relationships.

Legal practice management

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Can client development skills help law firms also retain their legal talent?

The skills a lawyer uses to build a personal connection with a client are largely the same skills that are needed to better retain their legal colleagues.

Reversion or revolution? COO & CFO Forum offers two glimpses at the future of the law firm office

As law firms begin the return to the office, panelist at a recent Thomson Reuters forum wondered what the future of the law firm office will look like.

Despite risks to future profits, law firm business leaders remain optimistic, says a new report

While optimistic, law firm business leaders may be staying awake nights worrying how the current overheated state of legal talent may impact firm profits.

Legal marketplace

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Top 10 blog posts on the Thomson Reuters Institute blog in 2021

Take a look back at the Top 10 most-viewed blog posts and their underlying themes that made 2021 such a memorable year.

Global trends in legal 2021: Growth opportunities are there, but law firms will have to work for them

In looking at the legal trends we've seen this year, we see that while law firms have a path to new growth opportunities in 2022, it won't be an easy one.

Forum magazine: The Nordic Model of law firm leadership

The Nordic countries are on the periphery of global law but their remote location could also enable them to be pioneers in how legal culture develops.

Legal talent & inclusion

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Practice Innovations: Training lawyers on pricing, project management & law firm economics — Start early & don’t let up!

There is a clear correlation between the level of early and ongoing training a lawyer receives and the level of client satisfaction a firm ultimately enjoys

Why the associate compensation market is nuts & won’t work for long-term retention

The steep climb in associate compensation at law firms nationwide is threatening to cut into the strong legal demand the industry is currently enjoying.

Employment law trends that employers need to watch in 2022

In 2022, employers and employees are going to be facing ongoing and new challenges in dealing with legal restrictions and rules around employment.

Legal technology

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Practice Innovations: Will the Internet of Behavior change how we act and interact?

As we evolve toward the Internet of Behavior will people be able to accept being monitored and tracked with a combination of data tech & behavioral science?

Forum magazine: 3 decades of change for lawyers and the law

Technological developments, geopolitical, and environmental changes all imply a vastly different future from the world in which we live today.

Buying the Constitution: The rise of DAOs in legal

Could Decentralized Autonomous Organizations (DAOs) become the model for future business structures and transform the legal industry in the process?