Published by our friends at Thomson Reuters. This 30-page report writes about differences observed between “dynamic” and “static” law firms over the past decade, and it is worth a read by leaders of smaller and midsize law firms. Although directed mostly at AmLaw 200 firms, here are some of the lessons to be learned:
- Dynamic firms invest in technology
- Dynamic firms invest in marketing and business development
- Dynamic firms are building transactional practices
- Dynamic firms have noticeably higher realization rates than static firms
Make sure to take in the last section of this report – “Lessons Learned and Conclusions.”