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Telling your in-house law department’s story in one slide
Within the Thomson Reuters Institute, we have adopted a framework for law departments we’ve come to affectionately call the spinning plates. This has proven to be an incredibly useful way to visualize...
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New research guides law firms on how to master the art & science of...
The legal industry is in the midst of a significant transformation, driven by the rapid advancement of artificial intelligence (AI), generational changes, and shifting client expectations, particularly...
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Q2 2024 LFFI: Back at record heights, law firms look healthier than ever
There’s been a significant resurgence in the financial health of law firms, driven by robust transactional practices and solid fundamentals, according to Thomson Reuters® Institute Law Firm Financial...
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RPM: Building a better productivity metric and providing a new way to measure...
Law firms have long relied on the number of hours billed by their lawyers as a key measure of productivity and profitability. However, this metric has several limitations, especially in the face of...
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LFFI Q2 analysis: Diversified organic revenue places law firms on more stable...
In the second quarter of this year, law firms demonstrated robust performance — as shown in the recent Thomson Reuters® Institute Q2 Law Firm Financial Index report — that was reminiscent of the...
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Q2 2024 LFFI analysis: How GenAI-driven productivity will impact lawyers,...
Law firms enjoyed robust financial performance in the second quarter of this year, as measured by the Thomson Reuters® Institute Law Firm Financial Index (LFFI), as all metrics pointed towards a...
View ArticleBuilding your legal practice’s AI future: The data and other key considerations
An effective strategy for artificial intelligence (AI) in the context of any legal practice will require a solid foundation in three key categories: expertise, tech tools, and data. We’ve discussed the...
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LFFI Q2 2024 Analysis: What role did GenAI have in Q2’s productivity positivity?
By almost all measures, this year’s second quarter was a time of high tides for many law firms, as evidenced by improvements in all the key performance factors tracked by the Thomson Reuters® Institute...
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A fantasy draft for lawyers: Redefining performance evaluation
Selecting the right running back or tight end for your fantasy football team is no easy task, and often is one filled with uncertainty. One pre-season miscalculation, or freak injury, could derail your...
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Law Firm Rates in 2024: The Bull, Bear & Base Case for rates and what it...
Over the past two years, law firms’ realization rates — the amount firms bill and collect from clients on legal services work — have broadly declined to levels more in line with pre-pandemic norms, and...
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