Melbourne Law School and Thomson Reuters Peer Monitor® are pleased to present this report setting out the dominant trends impacting the legal market in 2017 and the key issues to influence the market in 2018 and beyond.
The report findings show that despite improvements in the large law firm market, firms must make “big strategic decisions” on how to deploy technology to ensure their best opportunity for future growth.
After four consecutive years of declining demand, the market returned to positive growth, albeit a mere 0.1 per cent. Overall, the market showed growth in four key metrics: demand, worked rates, fees worked and utilisation – although none was greater than 1 per cent. However, after contracting for most of the last decade, even this modest success may mark an important inflection point.
Download your copy of the full report now.