Many top 200 law firms weathered the pandemic due to prudent actions and smart planning.
March 2, 2021 (New York, New York): Leopard Solutions has released its 2020 State of the Legal Industry Annual Report highlighting top 200 law firm growth, partner and associate hiring trends, and diversity efforts. The report takes an in-depth look at 2020, which was a year unlike any other in the legal market, due to the COVID-19 pandemic and will have a long-lasting impact on the legal market for many years.
As the report and Leopard Solutions’ data uncovered, many law firms in the top 200 successfully weathered the pandemic through prudent actions and smart planning – some even used the year as an opportunity for strategic growth. Lessons from past downturns helped law firms respond to near-term challenges and set the right priorities for the future.
Even though attorney departures were also down, 140 firms in that group dropped to zero and negative numbers in growth for the year. Firms also sought partners with portable businesses with greater interest as business development became a very high priority.
“2020 was a tale of what could have been and what was. The year started off as a continuation of the previous years in terms of growth until the COVID-19 pandemic hit. Firms reacted to market conditions and responded to the growing needs of their clients and as the year ended, attorney hiring picked back up, allowing firms to end the year in a much better position than many expected at the start of the pandemic,” said Laura Leopard, CEO of Leopard Solutions.
The findings in our State of the Legal Industry Annual Report discuss insights utilizing Leopard Solutions research compiled during 2020 and includes:
To receive the report and its findings, join us on March 4 at 12 PM ET for a complimentary webinar where we will cover issues explored in the report with legal industry leaders. Webinar attendees will receive a copy of the report. Register here.
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