Even with all of the issues COVID-19 caused in the larger economy, the legal industry had a financially strong 2021. Profits were up among many larger law firms, legal service providers saw increased work and market penetration, and corporate legal departments were able to take advantage of these market efficiencies for their business partners.
That isn’t to say, though, that a financially strong performance means the legal industry is maintaining the status quo. On the contrary—2021 showed that the legal industry that it can change, grow and adapt, all while maintaining the same level of client service and, yes, profits. Between increased remote work, more intelligent data use, and improved employee training and deployment, the legal industry is coming to work smarter than ever before.
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Read Full Story: https://www.law.com/legaltechnews/2022/01/07/legal-techs-predictions-for-business-of-law-and-alsps-in-2022/