Practice Finance

Expanded 8am LawPay will connect financial and operational tasks

Professional business platform 8am is expanding its payment platform into a complete financial management workspace.

Feb 12, 2026 8:45 AM CST

US law firms see overall profits rise in 2025, but mergers and acquisitions decline

U.S. law firms saw profits surge in the fourth quarter of 2025, increasing 14.1%, according to the Thomson Reuters Institute’s Law Firm Financial Index released Tuesday.

Feb 11, 2026 9:44 AM CST

McDermott’s private equity plan could test long-standing bans on outside funding for law firms

Law firms tend to take themselves and their professional traditions seriously. They value probity, dignity and decorum. So is McDermott Will & Schulte’s plan for a new ownership structure a bracing waft of fresh air? Or does it threaten an ethics-bending commercialization of the legal profession?

Feb 10, 2026 12:20 PM CST

US law firms set new highs for hourly rates, with 1 firm billing $4K per hour

Elite U.S. law firms have reached record high hourly rates, with top litigators now charging up to $4,000 per hour at one firm, according to a story by the JDJournal.

Jan 29, 2026 12:14 PM CST

Revenue, billing rates and demand all up at law firms in 2025, survey shows

Law firms experienced another year of strong performance, with industrywide revenue increasing 12.6% in 2025 and matching the pace set in 2024, according to the results of a year-end 2025 survey by Wells Fargo’s Legal Specialty Group.

Jan 29, 2026 10:19 AM CST

Firms may have to embrace changes in billing methods to succeed, new report says

This may be the last year that law firms can expect billing rate increases to drive financial stability, according to a new survey of more than 800 senior finance and legal professionals in large firms across North America, the United Kingdom and Ireland.

Jan 27, 2026 1:41 PM CST

Law firm profits might start to drop this year, new report says

Law firm profits could decrease in 2026, industry analysts warn in a new report, according to Law.com.

Jan 8, 2026 1:50 PM CST

Law firms saw surge in demand and profits in 2025, new report says

The U.S. legal market has experienced “a tectonic shift,” with profits per lawyer at Am Law 100 law firms increasing nearly 54% since 2019, according to a new report from Thomson Reuters and the Center on Ethics and the Legal Profession at the Georgetown University Law Center.

Jan 7, 2026 9:30 AM CST

Former OJ Simpson attorney sues estate for over $1M in unpaid legal fees

A California attorney is suing the estate of former professional football player O.J. Simpson for more than $1 million in legal fees that he said he was owed before the death of the athlete-turned-actor.

Jan 6, 2026 1:03 PM CST

Merger of these 2 law firms creates ‘mid-market legal powerhouse’

On Jan. 1, Frost Brown Todd and Gibbons officially combined to form FBT Gibbons.

Jan 6, 2026 9:20 AM CST

Hogan Lovells and Cadwalader announce massive law firm merger

Hogan Lovells and Cadwalader, Wickersham & Taft have announced a merger that creates one of the largest law firms in the world.

Dec 18, 2025 1:30 PM CST

How to address financial challenges in a law firm succession plan

Many law firms have to plan for the eventual departure of increasingly large numbers of aging partners. Having a strong financial plan for these departures will help smooth the transition of leadership roles and operational responsibilities.

Dec 8, 2025 10:18 AM CST

Are you thinking about retirement? Now what?

Retirement is a significant life event that often inspires a mixture of fear, excitement and uncertainty. The ABA Senior Lawyers Division recently aired Stephen Herman’s documentary, Retirement on Trial: A Documentary and Panel Discussion for Lawyers Thinking About Their Next Stage, which examines retirement through the lens of lawyers who are both apprehensive and optimistic about this transition.

Dec 3, 2025 2:33 PM CST

McDermott acknowledges ‘fielding inbound interest’ from outside investors as it listens to new ideas

McDermott Will & Schulte said it is “fielding inbound interest” from outside investors after the Financial Times reported that the law firm is considering splitting off its back-office work into a managed service organization in which private equity could own a stake.

Nov 18, 2025 9:03 AM CST

2 BigLaw firms announce merger that will ‘leverage the power of AI’ to serve clients

Perkins Coie and Ashurst announced a planned merger Monday that will create a law firm with about 3,000 lawyers in 52 offices in 23 countries.

Nov 17, 2025 1:36 PM CST