Tag Archives: Profits per partner

Pumping Up Profits Per Partner

Law firm financial data seldom was discussed publicly before law became big business. Today, however, the legal press ranks the largest US law firms on the basis of gross revenues and other indicators such as revenues per lawyer and profits per partner. (See the American Lawyer’s annual AmLaw100 and 200 rankings and the National Law…
Read more

Law is Big Business

Over the past 30 years or so, the practice of law transformed from a genteel profession to big business. Lawyers became profit centers; law firms grew and consolidated; technological advances sped up and commoditized the work; competition increased; loyalty between lawyers and law firms and between law firms and clients decreased; and more nonlawyer professionals…
Read more

California Economy 2012: Turning the Corner?

To understand California’s legal market, we must understand the economy as a whole. California's economy is the ninth largest in the world, compared with other countries.  As of 2010, the gross state product (GSP) was about $1.9 trillion, comprising 13% of the national gross domestic product (GDP).  But California was hard-hit by the Great Recession…
Read more