Law Firms

Law Firms

Overview

The 165,000 law firms in the US provide advocacy and advisory services to businesses, non-profit organizations, individuals, and government agencies. The practice of civil law accounts for just over 90% of the legal industry’s revenue, while criminal law accounts for only 5%. One-third of law firms are solo practices.

Client Cost Cutting

Businesses have cut the budgets of their legal departments, forcing them to reduce spending on outside legal services.

Alternative Fee Arrangements

Driven by client demands for cost containment, firms are offering alternatives to the traditional billable hour model.