The 2021 Market Analysis Reports examine the business and legal environment of select global legal markets
New York, NY – June 24, 2021 – ALM Intelligence is pleased to announce the release of the first two in its new series of Legal Market Analysis Reports, Austin/Dallas/Houston and the San Francisco Bay Area. These comprehensive market analysis reports blend legal and economic data and feature a scorecard that measures and benchmarks relative market attractiveness against other major US legal markets.
The San Francisco Bay Area Market Report contains data, insight, and analysis about the market’s legal landscape and business climate. In addition, the report measures the drawing power of the market for lawyers and law firms. Featured cities include San Francisco, Palo Alto, Menlo Park, Walnut Creek, San Jose, Oakland, Sunnyvale, Mountain View, and more.
The Texas Market report is an extensive study of the current economic conditions and the unique law firm dynamics that make Texas an ongoing target for corporate and law firm expansion. Additionally, the report identifies the fastest-growing firms within the strategic legal markets and the conditions necessary to sustain continuous growth.
“For law firm leaders, strategists, and consultants, this is the type of in-depth, actionable intelligence which should drive expansion strategy,” said Patrick Fuller, Vice President and GM of ALM Intelligence. “As firms evaluate the competitive legal landscape and broader business environment of key domestic and international markets, the exhaustive data and analysis in these comprehensive reports will be an invaluable resource for firm leadership.”
Some of the key takeaways from these reports are:
- The Bay Area’s high cost-of-living and heavy market saturation are significant reasons why Am Law 200 & NLJ 500 attorney headcount in the region remains relatively flat, yet firms continue to open offices
- While some high-profile businesses and executives relocated to lower-cost markets with lower tax rates, some of the world’s most profitable tech companies remain rooted in the market due to the influx of venture capital funding
- The low lawyer-per-capita ratio in Texas is conducive to expansion by firms headquartered outside the state, which have increased their presence by 44% over the last six years
- Texas’ attractive cost of living index and rebounding unemployment rate make the state an attractive destination for corporate relocations and business start-ups
“Some of our findings were surprising,” said Caitlin Kennedy, Legal Analyst, ALM Intelligence. “However, we can conclude that the Bay Area remains an attractive place for law firms to do business, especially as more firms continue to enter the market.”
“What’s interesting about these markets is that while they share few similarities, both are attractive markets for law firm expansion based on a completely different set of variables as determined by the ALM Intelligence scorecard.” Mark A. Moore, JD, Legal Analyst, ALM Intelligence.
To learn more about the Texas Report go to: http://at.alm.com/TexasLegalMarket.
To learn more about the San Francisco Bay Area Report go to: http://at.alm.com/SanFranciscoBayAreaLegalMarket.
These are available to download for our Legal Compass subscribers, if you are a Legal Compass subscriber download them today by logging into your account: https://legalcompass.intelligence.alm.com/
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