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2021 Report on the State of the Legal Market

“The 2021 Report on the State of the Legal Market, issued January 12, 2021 by the Center on Ethics and the Legal Profession at Georgetown University Law Center and the Thomson Reuters Institute, concludes that “2020 may in retrospect be seen as an important inflection point for the redesign of the delivery of legal services on a broader scale.” Despite the unprecedented disruptions caused by the COVID-19 pandemic, large law firms, for the most part, were able to adapt. According to the report, “that most firms were able to adjust to these challenges with notable success is a tribute to the innovation and resiliency of law firms and their leaders.” While the pandemic is seen as posing continuing challenges going forward, law firms leaders are generally optimistic in their outlook for 2021, and fairly bullish on their firms’ three-year outlook. “There are signs we may look back on the COVID-19 crisis as a moment that significantly accelerated many changes that firms had resisted in advancing their delivery of legal services, and introduced new changes as well,” said James W. Jones, a senior fellow at the Center at Georgetown and the report’s lead author…”

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