Legal Briefs: Trends and Factors Impact the Legal Sector

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Legal sector change is occurring at lightning speed. Change that used to happen over a decade now transpires in two to three years – and staying ahead of this rapid rate of change is challenging for law firms of all shapes and sizes. Inside this edition of LEGAL BRIEFS, take a deeper look in to trends impacting today’s legal sector, written by our very own thought leaders and selected guest experts. Topics in this volume include:

  • From Local to Global: 2018 Legal Sector M&A Activity
  • Forward-thinking Trends of Law Firm Workplace Design
  • NYC Law Firms: Setting the Pace and Making Moves
  • The Digital Future of the Legal Sector Looks Bright
  • Women in Law: Shaking up the Status Quo

Click here for more information about Cushman & Wakefield’s Legal Sector Advisory Group.

M&A Activity

There were 106 law firm mergers in 2018, doubling the total from 2009. Law firms are looking for opportunities to effectively expand their geographic footprint and broaden their specialty expertise. The cross-border merger trend? It’s not going away anytime soon.

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Workplace Design

Pressure on billing rates, increase of commoditized work and outsourcing, and competition for top talent are just three factors driving the design of law firm workplaces. One thing is for certain – change is on the horizon.

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NYC Firms

On the 2018 AM Law Top 100 list, 24 of the firms are headquartered in Manhattan, and they are on the move. Four of the five largest leases of 2018 are future relocations to new construction or renovated assets, punctuating the need for law firms to use their real estate as a means to recruit and retain top talent.

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Digital Future

CoreSite recently shared its thoughts with us on how law firms must overcome challenges to reach the new digital status quo. MSPs, AI, colocation data center facilities, and savvy CIO’s are becoming more and more commonplace in the legal industry to address higher performance demands of clients.

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Status Quo

In an industry traditionally known for its resistance to change, women are evolving. They are taking on expanded leadership roles within law firms and corporate legal departments. They are shaking up the status quo. But as the share of women holding equity positions in AM 200 law firms has increased only five percent over the last 12 years, we still have work to do.

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