December 15, 2021
Back

How Midsize Law Firms Steal 'Megamatters' from Big Law | Daily Business Review - Law.com

Close up of female manager and client handshaking after making a deal at the travel agency office. Tourism, travelling, business concept

What You Need to Know

  • A new Wolters Kluwer report analyzed the assignment of megamatters, or matters with $1 million or more in lifetime legal spend.
  • Am Law 200 firms took most megamatters, but midsize firms took 28%, a greater portion than consultants and firm leaders expected.
  • As CLDs grow more sophisticated, midsize firms that can demonstrate value and competency will gain ground on Big Law firms that justify their fees with brand strength and ranking.

If you think midsize law firms, regional firms, and boutiques are fighting over the scraps of corporate America’s most valuable matters, you’re the opposite of right.

That’s according to a new report from Wolters Kluwer’s LegalView Insights. After analyzing $150 billion in law firm invoices from the company’s e-billing tools, spanning 2015 to 2020, director of legal operations and industry insights Nathan Cemenska found that nearly 28% of “megamatters”—those matters that generate more than $1 million in legal spend—went to small and midsize law firms.

Want to continue reading?
Become an ALM Digital Reader for Free!

  • Free access to 1 article* every 30 days
  • Access to the entire ALM network of websites
  • Unlimited access to the ALM suite of newsletters
  • Build custom alerts on any search topic of your choosing
  • Search by a wide range of topics

Already have an account? Sign In Now

Click here to access the Public Notices and the Courts sections of the The Daily Business Review in PDF format.



source: https://www.law.com/dailybusinessreview/2021/12/15/how-midsize-law-firms-steal-megamatters-from-big-law/

Your content is great. However, if any of the content contained herein violates any rights of yours, including those of copyright, please contact us immediately by e-mail at media[@]kissrpr.com.