2023 Legal Trends Report

In today’s fast-paced and ever-evolving legal industry, staying one step ahead is crucial.

This year’s comprehensive report provides valuable insights that can help you navigate the rapidly changing landscape of the legal world. Discover the immense impact of legal technology and gain a deeper understanding of where your firm might be falling short with a new “Lockup” metric. See how competitive your rates are with valuable data on average billable hours by state and practice area. Plus, get an exclusive glimpse into the perspectives of legal professionals on the hot topic of AI.

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LTR 2023 Cover

In the report

  • Industry Benchmarks

    Industry Benchmarks

    Stay Ahead of the Competition

    Discover how your firm measures up against your peers with valuable insights on industry benchmarks. Gain a competitive edge by understanding key performance indicators and identifying areas for improvement. Whether it’s billable hours by state or practice area, this report provides essential data to help you optimize your strategies and outperform the competition.

  • Introducing Lockup

    Introducing Lockup

    The New Metric for Success

    Uncover our revolutionary “Lockup” metric, designed to help you understand and shorten the time between work performed and payment received. By leveraging the Lockup metric, you can actively work towards shortening the time between performing work and receiving payment, enabling your firm to better manage cash flow and maintain financial stability.

  • AI in the Legal Industry

    AI in the Legal Industry

    Perspectives and Potential

    Explore the transformative potential of Artificial Intelligence (AI) in the legal industry. In this report, legal professionals share their insights on how AI is reshaping the way they practice law. Gain a comprehensive understanding of the opportunities and challenges associated with using AI at your firm. Discover how AI-powered technologies can enhance efficiency, automate processes, and empower legal professionals to deliver exceptional client service.

  • Transforming with Legaltech Solutions

    Transforming with Legaltech Solutions

    Enhance Your Practice

    Understand which legaltech solutions are having an enormous impact on firm revenues. This report highlights what key technologies are revolutionizing the way legal services are delivered. From document automation to virtual collaboration tools, discover the solutions that can streamline your operations, improve productivity, and drive innovation. Unlock new possibilities and create a competitive advantage by adopting cutting-edge legaltech.

Logo Legal Trends Report

The Legal Trends Report provides information on the most important issues faced within the legal profession. By analyzing aggregated and anonymized data from tens of thousands of legal professionals in the US, supported by extensive survey research, the report offers unique insights into law firm efficiencies, hourly rates, and other key metrics for success.