Thomson Reuters Institute

Legal 
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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.

Stellar Performance 2022: A Survey of Stand-out Talent

Thomson Reuters' newly published report closely examines how law firms are managing their talent in the post-pandemic landscape

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The 2022 Law Firms Stay-Go Report

In a new report, we see how some law firms are better able to retain their top legal talent while others are having a far more difficult time.

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Legal data & metrics

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Legal Talent Deep Dives: How just 3 stand-out lawyers can result in a 4-fold increase in firms’ share of legal spend

Just three stand-out lawyers on a law firm’s roster can lead to a four-fold increase in the portion of their clients' total legal spend the firm might gain.

Forum: The Attrition Antidote — Anticipating (and preempting) attrition through people intelligence

In the latest issue of Forum magazine, we examine the question of whether law firms can benefit from creating an “early warning system” for lawyer attrition

Forum: Associate attrition & compensation — The data is just plain weird

Growing associate attrition & climbing compensation seem to be on everyone's mind in legal, but what does the data say is really behind these twin trends?

Legal practice management

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Law firm profitability primer: A meaningful business strategy for law firms of all sizes

In this 2-part series, we learn how profitability analysis has become a crucial strategy that is being used by many smaller or solo-practitioner law firms.

Custom & Advisory: What will the best legal service providers look like in 2025?

What will the best methods and processes to deliver high-quality legal services efficiently and effectively look like in three to five years from today?

Practice Innovations: Law firm pricing — An exercise in identity

How law firms price their services and how their clients view that pricing process goes a long way to defining that law firm's identity in the marketplace.

Legal marketplace

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Law Firm Financial Index (LFFI) flashing warning sign to the legal industry in Q2 2022

In Q2, the Law Firm Financial Index (LFFI) fell for the fourth straight quarter, injecting a cautionary note into where law firm performance may be heading.

Insights in Action: Measuring the impact of the Russia invasion on the legal industry

Companies have been affected by the events since Russia invaded Ukraine, and a majority of legal service clients also report being impacted by the conflict.

Insights in Action: Talent & ESG concerns drive discussions at recent CMO roundtable events

How law firms are managing their talent needs today and the impact of ESG initiatives were the hottest topics of discussion at recent CMO roundtable events.

Legal talent & inclusion

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Is it time to move away from tick-box ethics training?

Can ethics training for legal, tax & corporate workers evolve past simple tick-box efforts and toward something more meaningful & rooted in the real-world?

Custom & Advisory: Why is law firm leadership & culture so crucial to retain top talent?

Recently, law firm leaders cited today's talent crisis as the steepest challenge they're facing, and they want to know how they can retain their top lawyers

Midsize law firms confronting talent competition in their own backyard: Podcast

In the latest Market Insights podcast, we speak with Shannon Boettjer of Jaspan Schlesinger about the unique talent challenges of smaller law firms.

Legal technology

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Practice Innovations: The real risk of ransomware in 2022 and beyond

Ransomware — when bad actors breach a firm’s security systems and hold its operations for a monetary ransom — is seen as a genuine threat to law firms today

In Practice: How workflow automation helps drive operational excellence

Law departments that use workflow automation to complete manual, repetitive tasks can become more efficient & improve their overall operational excellence.

Practice Innovations: How can legal tech companies benefit from everything going bad?

After a bountiful time, the legal tech industry is facing a far less certain future of hard times, tight legal budgets & the question of how they can adapt.

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