Survey: Litigation, Commercial Law to Offer Greatest Revenue Opportunities for Law Firms
MENLO PARK, Calif., Aug. 29, 2013 /PRNewswire/ -- In a competitive business environment, law firm leaders will be looking to litigation and commercial law to drive future growth. Nearly six in 10 (59 percent) lawyers interviewed by Robert Half Legal expect the litigation practice area to generate the most revenue for their firms in the next two years. General business and commercial law ranked second, cited by 31 percent of those polled.
The survey was developed by Robert Half Legal, a legal staffing firm specializing in lawyers, paralegals and other highly skilled legal professionals. It was conducted by an independent research firm and is based on 175 telephone interviews with lawyers employed at the largest law firms in the United States and Canada. All of the respondents have hiring authority within their organizations.
Lawyers were asked, "Which of the following practice areas, if any, will offer the greatest revenue generation opportunities for your law firm in the next two years?" Their responses:*
| Litigation |
59% |
| General business/commercial law |
31% |
| Healthcare |
14% |
| Bankruptcy/foreclosure |
8% |
| Labor and employment |
7% |
| Intellectual property |
6% |
| Immigration |
5% |
| Privacy, data security and information law |
4% |
| Ethics and corporate governance |
2% |
| Family law |
2% |
| Other |
5% |
| Don't know/no answer |
3% |
| *Multiple responses were permitted. |
|
"Managing partners at many law firms are improving profitability by expanding teams in high-growth specialties, such as litigation and commercial law," said Charles Volkert, executive director of Robert Half Legal. "Law firms are hiring senior-level associates with portable books of business or acquiring boutique firms to rapidly bring new services to market."
Volkert added that a surge in commercial litigation and compliance-related activity should result in continued demand for skilled legal talent. "Associates and paralegals with three to five-plus years of relevant experience, who can help corporate clients prepare for trial and comply with recent regulations, will be especially marketable," Volkert said.
About Robert Half Legal
Robert Half Legal is the legal staffing division of Robert Half. The company provides law firms and corporate legal departments with highly skilled professionals, including lawyers, paralegals and legal support personnel, on a project and full-time basis. With North American and global locations, Robert Half Legal also offers managed review and e-discovery services. More information, including online job search services, can be found at www.roberthalflegal.com.
SOURCE Robert Half Legal
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