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.

2023 Report on the State of the Legal Market

This year’s report shows that as legal demand falters and other key metrics remain mixed, uncertainty in 2023 may cloud law firms leaders’ thinking

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Alternative Legal Services Providers 2023 Report

In our biennial report on the ALSP market, we find a sector that has grown exponentially over the past two years and is making great in-roads with both law firms and corporations.

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Legal data & metrics

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2023 State of the Corporate Law Department: Managing risk, mitigating litigation & controlling costs - Thomson Reuters Institute

The newly published "2023 State of the Corporate Law Department" report examines what department leaders are seeing as priorities this year.
5 min

LFFI Q4 2022 Analysis: Was Q4 really as dour as it first appeared? - Thomson Reuters Institute

Even as the LFFI hit a record low in Q4 of 2022, there are some signs within the data that law firms' fortunes could turn around in 2023.
5 min

LFFI Q4 Analysis: Is falling productivity to blame for the lowest score in the program's history? - Thomson Reuters Institute

Is historically low productivity a major manifestation of law firms' stumbling financial performance at the end of last year?
5 min

Legal practice management

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Practice Innovations: Doing what’s best for your client via the power of just asking a couple more questions - Thomson Reuters Institute

For lawyers, the power of asking clients a few extra questions can establish a deeper level of concern & point to better potential solutions.
5 min

Chapman and Cutler: Demonstrating best practices to create & execute an ESG strategy - Thomson Reuters Institute

Law firm Chapman and Cutler made it a priority to create a firmwide ESG strategy that included third-party scoring & engagement with clients.
5 min

Advisory Services: What a law firm Client Development Manager says about client listening programs - Thomson Reuters Institute

Client listening programs can offer law firms a big advantage in finding out what their clients think about pricing, service, and much more.
5 min

Legal marketplace

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The 2023 Canadian Legal Market Update: Exhibiting stability, while embracing change - Thomson Reuters Institute

A new report shows what Canadian law department leaders are thinking about managing their growth strategies and strategic investments.
5 min

Australian Legal Market Midyear Update: Signals of a midyear turnaround evident - Thomson Reuters Institute

After a tough start to its 2023 Financial Year, Australian law firms now are seeing some movement out of the shadows and into the sunlight.
5 min

2023 State of the Courts Report: Moving toward modernization - Thomson Reuters Institute

In a new report, we look at what judges and court professionals are saying about the challenges still facing the nation's court system today.
5 min

Legal talent & inclusion

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Practice Innovations: The #1 feedback tool for leaders to have in their toolbox - Thomson Reuters Institute

The ability to provide constructive & timely feedback to their team members is one of the most critical attributes a legal leader can possess
7 min

Beyond the War for Talent: ALSPs & the maturation of the remote legal team - Thomson Reuters Institute

New talent may be looking to alternative legal services providers (ALSPs) as employers because of the flexibility & innovation they offer.
5 min

Advancing underrepresented talent through an agile law firm culture - Thomson Reuters Institute

How can law firms change talent strategy to adjust to a wider array of employee preferences? Flexibility & transparency may be a good start.
5 min

Legal technology

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Legalweek: What can the legal industry reasonably expect out of ChatGPT? - Thomson Reuters Institute

During Legalweek, panelists debated what impact ChatGPT & generative AI could have on the legal industry, if any, urging caution nonetheless.
6 min

Insights in Action: Corporate law departments find their outside firms’ innovation lagging, but there may be little incentive to change - Thomson Reuters Institute

While many corporate law departments see their outside law firms' innovation efforts as inadequate, most law firms are still slow to change.
5 min

Financial institutions are increasingly eyeing fintech & regtech tools, but so are regulators - Thomson Reuters Institute

As more financial institutions use fintech & regtech tools to make their operations more efficient, regulators are starting to take notice.
6 min

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