Legal Industry Slump Brings About Long-Term Changes

Law360, New York (March 4, 2010, 6:57 PM EST) -- The current economic woes most law firms face are not just a cyclical blip but a harbinger of long-lasting changes in the legal market, according to a new legal industry report.

The 2010 client advisory released Wednesday by Hildebrandt Baker Robbins and Citi Private Bank argues that the pressures clients will exert on billing rates going forward could mean a fundamental shift in the way law firms do business.

“The fact is that the extraordinary prosperity of the legal market in the 1998-2007 period was largely...
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