The 50 largest corporate law firms operating in Texas scored record revenues and profits in 2019, added more lawyers than ever before and started the first two to three months of 2020 on pace for even loftier heights, according to exclusive new data collected by The Texas Lawbook. While 2019 seems like such a long time ago, legal analysts say the financial health of Texas law firms in the 14 months leading into the COVID-19 and crude oil price crises is a clear indicator of how they will make it through the rough times ahead.
Law Firms in Texas Beefed Up in 2019: Could They Have Picked a Worse Time?
Lawyer headcount for corporate law firms operating in Texas was stagnant for the past decade. But new Texas Lawbook 50 data shows that those same firms went on a relative hiring spree in 2019, adding more attorneys last year than they had during the previous four years combined. Analysts say the long-awaited growth occurred at exactly the wrong time. The Texas Lawbook has all the stats and comments.
Law Firm Marketing Expert: Business Development during COVID-19 is a Delicate Balance
Some law firms have intensified their outreach efforts by trumpeting the myriad of legal issues on which they can help clients during this crisis. Are they seizing opportunities or distastefully capitalizing on a global pandemic? Prominent corporate law firm marketing expert Susan Peters says the best law firm business development efforts in bad times resemble those in good times: anticipate clients’ concerns and show how the firm can help.
Expert: TX Law Firms Face Financial Hits, Opportunities in Crisis
Corporate law firms in Texas are going to take a financial hit as a result of the one-two punch of the coronavirus and plunging oil prices, according to a law firm management expert. The crisis is also an opportunity for firm leaders to make significant changes, including giving underperforming partners the boot.
St. Louis Firm Expands into Texas with Four Dallas Litigators
Thompson Coburn has opened its sixth office nationwide with partners from Thompson & Knight and Hedrick Kring. The firm aims to grow to 40-plus lawyers over the next few years.
DBJ: Sheppard Mullin Doubles Downtown Footprint
Sheppard, Mullin, Richter & Hampton has doubled its footprint in downtown Dallas. The company recently expanded its lease at Chase Tower from 25,902 square feet to 51,804 square feet and
It’s Official: Perkins Coie Opens in Austin with Laterals from V&E, Wilson Sonsini
The move comes as the technology market has boomed in the capitol and other firms have shrunk or shuttered their offices.