The Rise of the “Large Enough” Law Firms

The findings in the first edition of the Enterprise Legal Management Trends Report, powered by LexisNexis CounselLink, represent analysis of a snapshot of data available in the CounselLink Enterprise Legal Management platform. That collective stream of data and processed invoices includes more than $10 billion in legal spend and 2 million invoices, representing 300,000 matters gathered over the past 4 years.

The infographic below highlights some of these key findings:

  • "Large Enough" law firms are eating into market share of the "Largest 50."
  • Even more dramatic shift in higher fee legal work.
  • "Large Enough" firms are twice as likely to use AFAs.
  • The Average U.S. law firm partner bills at $381 per hour.
  • Philadelphia, Detroit, San Francisco, Atlanta and New York are the five U.S. cities that have had the greatest hourly bill rate increases.
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