Legal Industry Armageddon Talk Overblown: Survey

Law360, New York (May 12, 2009, 12:00 AM EDT) -- The hue and cry about how the economic downturn could forever change how the legal industry works notwithstanding, the consulting firm Altman Weil Inc. said Tuesday a survey it conducted in recent months indicates firms are not currently contemplating radical shifts in strategy or operations.

For example, despite a widespread industry belief that competitive pricing is key to winning new clients, a very small number of law firms responding to the survey, and none with 250 or more lawyers, said they had reduced their billing rates...
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