Welcome to the January edition of the Law.com Leverage Newsletter. The goal of this monthly newsletter is to keep you informed on how ALM is innovating to provide our customers with the critical news, data, analysis, marketing solutions, and events they need to successfully navigate the business of law. We'll also be sharing ways to maximize your subscription through upcoming webcasts, resources and reports. Our Featured Coverage this month showcases the results of the Managing Partner Survey. Are law firm leaders planning to grow their footprint, or pull back, bring on more or fewer lateral partners and associates? Find out! January’s Product Spotlight highlights the latest reports from our Pacesetters Research team as they take a fresh look at innovation in the legal industry, identifying what truly moves the needle. Also featured this month is Law.com Pro Mid-Market, delivering strategic business of law intelligence for the mid-size law firm. As always, we welcome your feedback, comments and suggestions so please don’t hesitate to reach out and let us know how we can serve you better. Regards, Richard Caruso, SVP, Legal Products |
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Law.com's Managing Partner Survey Results are Out |
Results of Law.com’s national Managing Partner Survey are out. We canvassed firm leadership in markets across the country on how 2024 shaped up and what they expect for 2025. While overarching industry data suggest firms had a banner year financially in 2024, certain geographic markets and firm segments didn’t share in that success. We break out results by regions, such as our looks at Pennsylvania, New Jersey, and Connecticut, while also looking at combined results from markets across the country. Managing partners shared insights on topics including billing rates, profitability, merger interest and much more. Law.com senior editors from across the newsroom came together Thursday, Jan. 30, to discuss the results and what they are seeing in the market as part of our January Law.com Pro webinar. If you missed the live discussion, check here to view the recording and hear how firm leaders are preparing for 2025. |
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Insights on Innovation in the Legal Space from Pacesetter Research |
The Pacesetter Research team is taking a fresh look at innovation in the legal world, focusing on innovation that moves the needle for key stakeholders: clients, partners, lawyers, alliance ecosystem. Innovation is all too often conflated with technology adoption, and indeed sometimes technology can be a catalyst for innovation as an enabler of change. Technology alone does not automatically translate into real change or innovation, however. (As IT departments were saying 30 years ago, automating bad processes still returns bad results – only, now more quickly.) Pacesetter Research seeks to explore what innovation is actually working and delivering business impact for law firms and legal departments in 2025, looking across firm management, client engagement, service delivery, and value proposition. We are looking for innovation that moves the needle, whether the needle is measuring client outcomes, better retention rates, tighter payment cycles, longer-term client relationships, cost reduction, and more. The first Pacesetter reports are already available in Compass. Throughout this year our team will be adding to that catalogue continuously. Our goal is to help key decision-makers in law – partners, lawyers, business development and competitive intelligence professionals, knowledge managers, legal operations specialists, in-house legal teams – understand what innovative initiatives their peers are doing, and as importantly, what’s working, and what isn’t. Compass subscribers please join us on February 19 at 11:00 a.m. ET for a webinar in which we introduce the first Pacesetter reports and discuss where we go in 2025. |
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Strategic Intelligence for the Mid-Sized Law Firm |
Law.com Pro Mid-Market is an exclusive membership program providing insights, analysis, and data on business of law issues tailored for the mid-size law firm. This actionable intelligence is curated to assist mid-size law firm leadership in formulating and executing on strategic priorities for their firms in a highly competitive environment. A membership to Law.com Pro Mid-Market includes: Executive Briefings: Unrivaled insights from journalists who have built strong local relationships with key movers and shakers within your region, using their connections to provide recommendations on how to translate opportunities into growth for your practice. Monthly Pro Webcasts: Editorial and analyst driven interactive discussions that provide a smart take on trends, what to make of key developments, and clear recommendations on how to translate into growth for the practice and business of law. Market Hub Pages: Connect the dots with exclusive insights from unrivaled regional data and industry analysis that can help you define your next strategic steps and measure your success. Ask A Mid-Market Pro: Ask our expert journalist and leading industry analysts your legal industry and business of law questions. Your strategic intelligence starts here. Gain insight into how your law firm’s performance compares to the market and how to implement a sustainable differentiation in a crowded market to stay competitive and retain your clients, how to strategically deploy resources across target markets, and where to invest to grow and run your firm more effectively. |
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Join Us for Legalweek 2025! |
The leading conference for the legal technology industry returns to NYC March 24-27 2025! Gathering 6,000 of the biggest names in the industry, Legalweek explores emerging trends, spotlights the latest tech and offers a roadmap to drive the industry forward. Prepare to transform your practice, your network and your perspective. |
Secure the lowest registration rate and register today! |
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