Survey: Most law firms losing business to clients, new competitors

While law firm financials have improved, corporate clients have moved more work inside and managing partners view it as a growing threat. While law firm leaders continue to see economic improvements, non-traditional competitors are actively taking business from them and Altman Weil says in its seventh annual “Law Firms in Transition” survey that the threat is growing. The Newtown Square-based law firm consultant surveyed managing partner and chairs of 797 U.S. law firms with 50 or more lawyers…