While Big Law has forged ahead in new markets in the last two years, there are emerging signs firms will be reluctant to expand into new regions in the coming year.
About 46% of leaders in the 2022 Law Firm Business Leaders Survey from Thomson Reuters said they “probably” or “definitely” will expand into new domestic markets in 2023. About 20% said the same about doing mergers next year. Last year, in a similar survey, the numbers were 50% and 22%, respectively.
