“Thomson Reuters a global content and technology company, and the Center on Ethics and the Legal Profession at Georgetown Law today released the 2025 Report on the State of the US Legal Market. The report notes a transformative shift in the legal profession amid the evolution from traditional practices to innovative business models. Law firms will need to continue innovating and adapting to remain competitive, including implementing the latest technology, employing new business models and prioritizing client-centric practices. The report encourages law firm leaders to “take advantage of the benefits of a lucrative 2024,” noting that firms’ strong performance was defined by three metrics: demand, rates and expenses. Solid demand growth – across counter-cyclical and transactional practices – coupled with law firm billing rates accelerating at their fastest pace since the Great Financial Crisis contributed to law firms’ soaring profits, alongside expense growth levelling off…”