Welcome to Bloomberg Law’s Wake Up Call, a daily rundown of the top news for lawyers, law firms, and in-house counsel.
- A study from the Thomson Reuters Institute found that law firms’ booming profits in 2024 were driven by strong demand across multiple practice areas, higher billing rates, and the expansion of non-equity partner positions. However, the report also found that potential declines in demand, rising expenses for firms, and the growing influence of generative AI could undermine profitability in 2025. (Reuters)
- Sullivan & Cromwell is adopting a full return to office model, requiring lawyers to be in ...
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