October 23, 2012

Leading Indicators in the Business of Practicing Law

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Law Practice Benchmark

Which practice areas are ripe for growth? The BTI Consulting Group compared results from its most recent survey of Law Practice Today readers to interviews with almost 200 corporate counsel at the Fortune 1000 to pinpoint the best practice area growth opportunities for 2006 and 2007. Litigation stands alone as the most important practice area for both law firms and corporate counsel. However, other emerging opportunities differ between the two groups. Fortune 1000 clients identify M&A as the second most important legal service they will be purchasing within the next three years, while Law Practice Today readers see opportunities rising quickly in real estate. “Identifying the hottest growth spots as seen by law firms and clients ferrets out key market drivers and trends,” explains Marcie L. Borgal, a principal at BTI. “Savvy law firms tune in to both internal and external voices to target their resources for the best returns.