Empowered by an increasing demand for legal services—particularly among Am Law 100 firms—more and more law firms have successfully increased both their standard and negotiated billing rates over the past year, according to a recent Thomson Reuters Peer Monitor Index report. This bodes well for law firms, as increased demand leads to increased revenue, profitability and job growth. But it also begs the question: If demand and revenue are both increasing, why, then, are law firms experiencing the biggest six-month decline in collected realizations in four years?
