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ARTICLE · 26 FEBRUARY 2018

Recession Proofing – Why Now? Perhaps The Better Response Is Why Not?

Applied Strategies, Inc.
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Obviously, it is always good to begin at the start and address why it is important to deal with the question of why law firms would even be thinking about recession-proofing in 2018.

CanadaLaw Practice Management
Stephen Mabey
Stephen Mabey
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Obviously, it is always good to begin at the start and address why it is important to deal with the question of why law firms would even be thinking about recession-proofing in 2018. The reasons are based on identifiable trends both internal (within the legal profession) and external (world events).

Trends identified in the recent 2018 Report on the State of the Legal Market, prepared by The Center for the Study of the Legal Profession at the Georgetown University Law Center and Thomson Reuters Legal Executive Institute and Peer Monitor, clearly support the premise that the profession has failed, for the most part, to fully recover from the 2008 – 2009 recession. The following trends in question deal with key areas such as demand; productivity; realization; and profitability:

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