Practice Management

Doing nothing is “a legitimate strategy” for lawyers which “maintains focus on key objectives and avoids burnout”, the founder of LOD (Lawyers on Demand) has argued.

Listed firm Keystone Law continues to make significant strides, with revenue up 17% in the first half of its financial year and likely to exceed market expectations for the full year.

New research has highlighted the importance of using artificial intelligence – and being seen to use it – among the largest law firms.

Consumer law platform Lawhive has said it will be looking for similar targets after buying fee-share law firm Woodstock Legal Services and setting up an ABS in the US.

Burford Capital has made a clear statement of intent to ramp up its investing beyond litigation by taking a minority stake in a UK consultancy that launches and helps manage law firms.

Six out of 10 lawyers are using GenAI for work purposes and most of the rest plan to use it, with small law firms twice as likely as larger practices to “rely heavily on AI for day-to-day work”.

Gateley has made the 15th acquisition since it listed just over a decade ago by buying intellectual property law firm Groom Wilkes & Wright for up to £9m.

The need for law firms to keep growing – because “if you’re standing still, you’re going backwards” – is making the option of private equity investment increasingly attractive.

The Council for Licensed Conveyancers has issued its first approval for a law firm to use a third-party managed account for its client funds.

The growing number of consolidators in the legal market does not mean there will be a bidding war for attractive law firm targets, the newest player in the field has said.