Thomson Reuters Institute

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The Thomson Reuters Institute’s Legal coverage focuses on the business of law, including critical issues of great importance to lawyers, whether within law firms, corporate law departments, or solo practices.

2023 Report on the State of the Legal Market

This year’s report shows that as legal demand falters and other key metrics remain mixed, uncertainty in 2023 may cloud law firms leaders’ thinking

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2022 Report on the State of US Small Law Firms

Leaders of small law firms are experiencing a general sense of optimism and expectations of future growth, despite an uneasy economic picture

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Legal data & metrics

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2023 Report on the State of the Legal Market: Mixed results and growing uncertainty - Thomson Reuters Institute

As legal demand falters and other key metrics remain mixed, uncertainty in 2023 may cloud law firms leaders’ thinking, says a new report.

How to improve handling of law firm rate increase requests through data: A view from in-house counsel - Thomson Reuters Institute

By leveraging its data, corporate law departments can improve how they handle any rate increases that their outside law firms request.

LFFI Q3 analysis: Conflicting rate data helps tell Q3’s shifting demand story - Thomson Reuters Institute

As law firms raise their rates amid falling demand, are corporate clients really feeling this pinch or are they just moving work elsewhere?

Legal practice management

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Practice Innovations: Why lawyers lack an “ownership mentality” and what to do about it - Thomson Reuters Institute

What does it mean to have an "ownership mentality" as a law firm lawyer? And, more importantly, how can firm leadership promote that idea?

Practice Innovations: What to do when you’re on the receiving end of a difficult conversation - Thomson Reuters Institute

Successful law firm partners know how to handle feedback with grace, navigating difficult conversations with clients, partners & leaders.

The possibility of an economic downturn may complicate strategic planning as we enter 2023: Podcast - Thomson Reuters Institute

In our latest podcast, we discuss what we're hearing about industry priorities in 2023 & how the economy may cause those priorities to shift.

Legal marketplace

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Looking back at 2022 to see where we might go in 2023: The Thomson Reuters Institute blog - Thomson Reuters Institute

In 2022, our coverage chronicled the innovations sweeping corporations, law firms, and accounting firms, revealing how leaders handled change

Talent, technology & transformation: What our annual State of the Markets reports are saying - Thomson Reuters Institute

Our State of the Markets reports in 2022 showed how issues of talent & technology are altering the landscape for professional services firms.

Insights in Action: How are US law firms stealing market share in the UK? - Thomson Reuters Institute

Competition in the UK legal market is heating up, mainly due to law firms in the US that turned their attention there more than a decade ago.

Legal talent & inclusion

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Welcome to 2023: ESG & employees still win even in economic uncertainty - Thomson Reuters Institute

Can ESG issues improve the well-being of employees in the coming year as human-centered business becomes more a part of the mainstream?

Dealing with the conflict of generational preferences on how, where & when to work - Thomson Reuters Institute

Managing a multi-generational workforce's preferences around different work situations will become critical for organizations going forward.

Reimaging lawyer compensation models: Lessons from the Law Firm COO & CFO Forum - Thomson Reuters Institute

How law firms manage their top legal talent has become a determining factor in how firms can define & differentiate themselves going forward.

Legal technology

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Small law firms' 2023 tech priorities: Business development & ensuring remote proceeding capabilities - Thomson Reuters Institute

Optimistic about their prospects in 2023, small law firms are eschewing new tech, content to update & formalize what they adopted recently.

NextGen Justice Tech: What regulatory reform could mean for justice tech - Thomson Reuters Institute

As advanced tech offers the chance to improve access to justice for many citizens, the push for regulatory reform is following close behind.

Forum: Legal’s Web 3.0 strategy switch & the practical approach to new tech - Thomson Reuters Institute

The legal industry has a reputation for avoiding next-gen technologies, but with the blockchain and metaverse, that perception is shifting.

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