JoAnna Forshee, of Envision Agency, has shipped the latest edition of her Legal Marketing News. It offers some very interesting statistics about the legal profession, and just in time for the opening day (Monday) of LegalTech New York (at the Hilton). Here are some highlights:
* There are approximately 900 law firms in the U.S. with 50 attorneys or more (112 employees). Of those firms, roughly 700 have between 50-150 attorneys.
*Medium and large firm market accounts for less than .1% of the entire U.S. legal market!
* 22% of all U.S. firms and legal service providers have 5 to 49 employees and less than 20 attorneys.
* The five largest U.S. legal markets are California, New York, Florida, Illinois & Pennsylvania.
*According to the 2004 Am Law 100 revenue ranking, Skadden Arps, the #1 revenue generating firm in the U.S., had gross revenues of $1.33 billion in 2003.
* 27 of the Am Law 100 firms had gross revenues exceeding $500 million in 2003.
* 2004 Am Law 100 firm #100, Preston Gates & Ellis, had total revenue of $189 million.
A lot of food for thought, there!
BTW, I may be cryptic or offline the next few days, because of LegalTech. But never fear, in the words of Ahnold, "I'll be back!"
January 28, 2005 | Permalink
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» WHAT YOU DON'T KNOW ABOUT AMERICAN LAW FIRMS BUT SHOULD from Legal Blog Watch
The Common Scold has the latest law firm data from Joanna Forshee. Here's some of what you can learn: 1. What's the No. 1 revenue-generating law firm in the country and how much ca$h did they bring in last year? [Read More]
Tracked on Jan 31, 2005 4:09:06 PM