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2025 - Survey: Concerns in Law Practice of Large Firms:

Published: 21 February 2025
Hits: 404
Stephen McGarry President - Global Legal Leaders, Inc., Global Legal Leaders

_________________________________

Stephen J. McGarry BA, MA, JD, LLM (Tax)   Admitted: TX LA MN Founded: Lex Mundi and WSG - the world's two largest law firm networks  (Combined 44,000 attorneys in 1,200 offices with annual revenues of $20+ billion)  Created: HG.org, one of the first 10 legal websites in 1995 (1.3 million monthly  users) and GlobalLegalLeaders.com (10,000 organizations providing $300 billion annual services).  Met in-person with over 400 law firms in more than 100 countries and every US state and Canadian province. Published: Numerous publications including ALM’s Multidisciplinary Practices and Partnerships, the only treatise on the Big 4 in law. Languages: French, German, Spanish Featured in: Wall Street Journal, American Lawyer, IFLR, National Law Journal, Legal Business, Financial Times and other professional publications. Artist: stephenmcgarry.com - Prometheus Perspectives

 

2025 Concerns in Law Practice of Large Firms:

 

Concern

Question

SCALE

1 Low
 10 High

1.        

Adoption of Legal Technology

How critical is integrating emerging technologies like AI and machine learning to improve operations and services?

 

2.        

Branch Office Optimization

How critical is optimizing the operations or locations of branch offices to improve efficiency and profitability?

 

3.        

Brand and Reputation Management

How challenging is maintaining a consistent global brand while addressing localized needs?

 

4.        

Client Expectations for Global Reach

How pressing is the need to manage cross-border clients and deliver consistent service across jurisdictions?

 

5.        

Competition from ALSPs and Big Four

To what extent does competition from ALSPs and Big Four accounting firms threaten your market position?

 

6.        

Cultural Integration in Global Operations

How important is aligning cultural, legal, and regulatory environments within global operations?

 

7.        

Cybersecurity and Data Privacy

How concerned are you about maintaining robust cybersecurity and data privacy protocols?

 

8.        

Demand for Multidisciplinary Services

How important is the ability to provide integrated legal, financial, and technological solutions?

 

9.        

Digital Transformation Lag

How concerned are you about delays in adopting and integrating digital tools and innovation?

 

10.     

ESG Concerns

How critical is addressing environmental, social, and governance (ESG) expectations for your clients and firm?

 

11.     

Fragmentation in Legal Services Markets

How impactful is fragmentation in increasing inefficiencies and limiting access to innovation?

 

12.     

Global Market Competition

How pressing is competition from firms offering innovative or low-cost services internationally?

 

13.     

Hybrid Work Model Challenges

How critical are challenges associated with hybrid work environments, including culture and cybersecurity?

 

14.     

Manpower Challenges

How concerned are you about recruiting, retaining, and developing legal and support staff?

 

15.     

Market Fragmentation

How significant is market fragmentation in creating inefficiencies and reducing innovation for your firm?

 

16.     

Pricing Pressures

How challenging is meeting client demands for competitive pricing while maintaining profitability?

 

17.     

Regulatory and Compliance Challenges

How significant are challenges in keeping pace with evolving global regulations?

 

18.     

Specialization vs. Generalization

How significant is the tension between broad service offerings and deep specialization in emerging fields?

 

19.     

Succession Planning

How critical is the challenge of identifying and preparing future leadership?

 

20.     

Talent Drain

How concerning is the loss of talent to in-house roles, ALSPs, or tech companies?

 

 



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