Why Virtual Law Firm Growth Is Outpacing BigLaw

By Aebra Coe (February 9, 2018, 2:17 PM EST) -- As large and midsized law firms continue to see incremental increases in revenue and head count, cloud-based firms are reporting soaring growth figures, a trend some say is a result of the firms' ability to deliver increasingly sophisticated legal services at a lower price.

The 400 largest law firms in the U.S. by domestic head count have grown between 1 and 2 percent a year on average over the past five years, according to data collected by Law360. And revenue growth has been similarly modest, with the American Lawyer reporting average revenue growth in 2016 of 4.3 percent and 1.2 percent...

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