Law Firms in Transition 2009 - Excerpted Highlights

Law Firms in Transition Highlights

The Altman Weil Flash Survey on Law Firms in Transition reports that law firms are adjusting to the economic downturn but are not currently contemplating any radical shifts in strategy or operations.

“The survey was designed to measure how law firms are weathering the economic storm in a number of key areas, including strategy, growth, pricing, staffing and business development,” explained Altman Weil principal Tom Clay.  “We wanted to know if all the noise in the marketplace about a new law firm business model was translating into real change.  We didn’t find much evidence of that beyond the expected staffing cuts, overhead reduction and extra attention to clients that any downturn would bring.”

Conducted in March and April of 2009, the survey polled 687 US law firms with 50 or more lawyers.  Completed surveys were received from 208 firms (30.3%), including 32% of the 250 largest US law firms.

Read a summary of the survey.

Download survey highlights.

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