How does a law firm tackle emerging issues and a constantly changing regulatory environment? The answer depends on the size of the law firm, according to Bloomberg Law’s recent State of Practice survey.
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Larger law firms are setting up new practice areas, standing up task forces, hiring more lawyers, and even restructuring billing practices to effectively meet clients’ demands on emerging areas like tariffs and data centers. But size matters when it comes to adapting to change, as smaller law firms report being less nimble.
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