Survey: Firm Leaders Admit Downturn's Permanent Impact

, The Am Law Daily

   | 2 Comments

In a new survey from legal consultancy Altman Weil, law firm leaders acknowledge that recession-driven changes to their pricing practices and their clients' expectations that work be done efficiently are likely here to stay. At the same time, most survey respondents say they have been slow to alter their long-term strategies to address those changes.

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What's being said

  • Publicus

    What this demonstrates is that law firm partners still don't have a clue on how the profession is changing, especially in terms of economics. The partners had better be more concerned with quality of work product at a FAIR price, not how much they can squeeze the clients for their smarmy profits-per-partner prestige contests and expecting clients to pay an egregious fee for the privilege of having Dewey, Cheatum & Howe do their legal work.

  • Patrick J. McKenna

    A brilliant piece of research! It is amazing to contrast the transition in mindset from 2009 (the first year this survey was undertaken) to 2013. Well done and well worth taking the time to read and carefully study.

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