Just read the brief report issued by the world’s largest consulting company about the impact of Covid-19 on the performance of law firms in the United States (US). Interesting. The report basically illustrates that the current conditions are different from the financial crises in 2008 and 2009, which tend to only hit law firms dealing with financial transactions.
Covid-19 this time made almost all sectors experience a decrease in performance. Inevitably has a significant impact on the performance of law firms. Interestingly, the report explains that the litigation (dispute) sector is less affected, because it seems that the market is not directly related to the economic situation or financial markets.
Then the market litigation (commercial disputes) is predicted to remain stable or even experience an increase. Its niche market is in the potential for disputes between shareholders, suppliers, labor conflicts, and related to force majeure.
The situation is slightly disadvantaged indeed predicted to occur in …read more >