Today, courtesy of Cordell Parvin's Blog, I came across the Annual Report on the State of the Legal Market presented by The Center for the Study of the Legal Profession at the Georgetown University Law Center and Thomson Reuters Peer Monitor.
This is essential reading for all law firm leaders with en eye on the future. While it offers a US perspective, the information is of relevance to all law firms globally.
The report concludes:
"Under these (economic) circumstances, it would seem that more firms would be actively embracing the need to change their basic operating models – to design and implement new approaches to staffing and legal work processes, to explore new opportunities for collaboration with other service providers, and to adopt and market innovative strategies for the pricing of their services. While a few firms have been proactive in pursuing these opportunities, the vast majority has not."