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The Thomson Reuters Institute鈥檚 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.

2024 Report on the State of the US Legal Market

In this year's report, we look at the current tumultuous environment for the legal industry and what law firm leaders can do to best navigate through

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Law firm rates in 2024

A new report shows law firms are continuing their impressive run of growth in billing rates; however, potentially softer demand in 2025 may make such continued strong rate growth an important necessity

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Legal data & metrics

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Law Firm Rates in 2024: The Bull, Bear & Base Case for rates and what it means for realization - Thomson Reuters Institute

How will 2025鈥檚 rapidly approaching new set of rates that law firms charge their clients impact firms鈥 billing and collection strategies?
6 min

A fantasy draft for lawyers: Redefining performance evaluation - Thomson Reuters Institute

Law firms are often faced with a difficult task of evaluating current lawyer performance, and this hiring season, this issue is critical.
6 min

LFFI Q2 2024 Analysis: What role did GenAI have in Q2鈥檚 productivity positivity? - Thomson Reuters Institute

This past Q2 was strong for many law firms, with growth across all key factors that allowed for continued investment in AI-driven technology.
5 min

Legal practice management

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Will alternative fee arrangements be the new pricing model for AI-driven legal work? - Thomson Reuters Institute

With GenAI set to disrupt how lawyers work, it may also alter the relationship between corporate law departments and their outside counsel.
6 min

Practice Innovations: Succession planning 鈥 one lawyer鈥檚 experience - Thomson Reuters Institute

While law firms need to carefully manage the succession process, their exiting lawyers can sometimes add greatly to make succession a success.
5 min

Law firm rates in 2024: New report finds that rates continue strong growth, but could face shifting trends - Thomson Reuters Institute

Law firms are continuing their impressive run of growth in legal rates; however, potentially softer demand in 2025 may hinder strong growth.
5 min

Legal marketplace

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AI for Legal Aid: How to empower clients in need - Thomson Reuters Institute

In this second part of this blog series, we look at how AI-driven technologies can empower those legal aid clients who may be most in need.
6 min

AI for Legal Aid: How to supercharge legal services organizations - Thomson Reuters Institute

How can legal aid service groups leverage AI-driven technology tools to better pursue their missions of justice and service to those in need?
6 min

2024 Australia: State of the Legal Market Report 鈥 Embracing a new era of legal practice - Thomson Reuters Institute

The FY2024 has seen a significant increase in demand for legal services among Australian law firms, according to a new 抖阴成年 report.
5 min

Legal talent & inclusion

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Organizational Resilience: The cost of quick fixes amid a solution that works - Thomson Reuters Institute

In a new blog series, we look at the workplace culture crisis to see how leaders need to prioritize organizational resilience to foster change
7 min

How creating a culture of trust & well-being among employees can spark profitability - Thomson Reuters Institute

Employee trust & well-being is a crucial factor for business profitability and organizational resilience, and leaders should invest in that.
5 min

Practice Innovations: Succession planning 鈥 the view from the client side - Thomson Reuters Institute

Clients are often overlooked in the succession process of planning for lawyers to leave law firms, and this can create even greater problems.
5 min

Legal technology

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In-house law departments work to find balance between higher matter volumes and the need for lower costs - Thomson Reuters Institute

The pressure on corporate law departments to balance rising costs with increasing work volume has many looking for technological solutions.
5 min

Establishing GenAI literacy in courts: 鈥婣n ethics guide for judges & court administrators - Thomson Reuters Institute

The ethical & responsible use of GenAI in the courts requires balancing technological advancements with ethical principles to ensure justice.
5 min

Increasing Access to Justice: Innovations now happening in the nation鈥檚 court system - Thomson Reuters Institute

Some legal professionals may have hesitancy around GenAI, but the tools are already in use, transforming courts & expanding access to justice.
5 min

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