Law Firm Business
BigLaw strategy, revenue, profitability, lateral partner moves, firm mergers, and partnership economics
BigLaw Equity Partnerships Shrink as Multi-Tier Models Take Hold
Fewer BigLaw firms maintain single-tier partnerships, with 46% of partners now non-equity. Industry leaders are adapting to new partnership structures and compensation realities.
Court Finds Fake Citations Blamed on AI Were Human Error
A court probe revealed that fake legal citations thought to be AI 'hallucinations' were actually due to human paralegal mistakes, challenging current AI risk narratives in law firms.
Kirkland Becomes First $10B Law Firm, Wachtell Sets Profit Record
Kirkland & Ellis surpasses $10B revenue and Wachtell posts record profits, according to the 2026 Am Law 100 report, reflecting ongoing shifts in U.S. law firm economics.
Morgan Lewis Tops Vault's 2027 Law Firm Quality of Life Rankings
Morgan Lewis claims the top spot in Vault's 2027 'Best Law Firm to Work For' rankings, offering fresh insights for legal recruitment and retention strategies.
Wachtell Tops BigLaw Profits at $6.6M Per Equity Partner for FY23
Wachtell Lipton Rosen & Katz leads BigLaw with $6.6M profits per equity partner for fiscal 2023, outpacing top rivals Quinn Emanuel and Paul Weiss. Key takeaways for legal professionals.
Ashurst, Perkins Coie Partners Approve $2.8B Transatlantic Merger
Partners at Ashurst and Perkins Coie have approved a $2.8 billion merger set to create a top-20 global law firm by revenue and geographic reach.
Vault Reveals 2027 BigLaw Rankings for California Firms
Vault's 2027 law firm rankings spotlight Latham & Watkins and Cooley as California's most prestigious BigLaw firms, with notable shifts in national standing.
BigLaw Survey: Record Salaries, But Associates Log 13-Hour Days
Above the Law data reveals first-years make $225K, while associates at major firms like Milbank average over 13-hour days despite high pay.
BigLaw Cools Hiring Amid Deal Slump and Leans Into Tech Upskilling
BigLaw firms slow hiring as M&A and private equity deals decline, pivoting to litigation, compliance, and tech-driven associate training.
K&L Gates Sued for Firing Manager Soon After Disability Leave
A former K&L Gates IT manager alleges wrongful termination and a hostile work environment linked to her disability leave, raising compliance questions for BigLaw HR leaders.
Yale Loses Top Spot in U.S. News Law School Rankings After 36 Years
Yale Law School drops from No. 1 in the 2026 U.S. News rankings for the first time in 36 years, with Stanford taking the lead. Find out what this means for legal education.
More Top Litigators Exit BigLaw for Boutique Litigation Firms
Elite litigators are leaving BigLaw for boutique firms, seeking better workload balance and client engagement, reshaping talent strategies for law firm leaders and legal recruiters.
Law Firm Leaders Lean on MBWA to Oversee AI Integration
As AI use surges in law firms, leaders are reviving 'managing by walking around' to ensure judgment, accuracy, and client trust aren't sidelined by automation.
First-Gen Law Student Enrollment Drops 7% Post-Affirmative Action Ruling
Law schools saw a 7% decline in first-generation enrollment after the Supreme Court ended race-based admissions. Legal employers may face a less diverse talent pool.
Stanford Claims Top Spot in 2026 U.S. News Law School Rankings
Stanford surpasses Yale as the top U.S. law school, reflecting new ranking criteria focused on employment and bar passage rates.
Antti Innanen Unveils AI-Driven Virtual Law Firm Model
Antti Innanen's AI-powered virtual law firm promises significant cost savings and enhanced efficiency for legal departments and general counsels.
Yale and Chicago Tie for Second in 2026 Law School Rankings
Yale Law School shares the No. 2 spot with Chicago, impacting law firm recruitment strategies.
Court Upholds Dismissal of Morphew's Misconduct Lawsuit
A federal court upholds dismissal of Barry Morphew's $15 million lawsuit, highlighting challenges in prosecutorial accountability.
Judge Dugan's Case Fuels Calls for Judicial Ethics Reform
Judge Hannah Dugan's conviction raises concerns about judicial ethics and accountability, prompting discussions on necessary reforms in legal systems.
Texas Lawyers Call for Urgent Docketing System Overhaul
Texas lawyers urge reforms to modernize civil appellate docketing, aiming to cut inefficiencies and improve case management.