Law Practice Management
As Small & Midsize Firms Cut Costs By 1.8%, Revenue Drops 4%
Posted Nov 17, 2009 12:25 PM CST
By Martha Neil
Midsize and small law firms cut their costs by 1.8 percent last year. But that savings was offset by a 4 percent drop in revenue, according to a survey by ALM Legal Intelligence.
Average revenue per lawyer at the more than 190 firms surveyed was $414,000, reports the National Law Journal.
The ALM group is owned by the legal publication's parent company.