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Law Firms in the US

  • ID: 16889
  • December 2014
  • Region: United States
  • 32 pages
  • IBISWorld
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Power of attorney: Rising corporate profit will lift demand for industry services

Law Firms in the US

Law Firms industry growth has been modest in the past five years, as cost-weary businesses declined to pursue outside legal counsel. However, industry revenue in the next five years is expected to grow at a more robust pace, particularly for large firms, as higher corporate profit margins and increased corporate activity increase demand for legal services. Additionally, an anticipated increase in new businesses, alongside an influx of new laws and regulations, will expand industry operators' potential clientele. Furthermore, an expected increase in consumer disposable income will aid smaller industry participants by increasing demand for services like estate and trust planning, although these firms will face rising external competition from online services.

This industry comprises offices of legal practitioners, known as lawyers or attorneys, who primarily practice law. Establishments provide expertise on a range of areas or specific areas of law, such as criminal, corporate, family and estate, patent, real estate or tax.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.

Note: Product cover images may vary from those shown
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ABOUT THIS INDUSTRY
Industry Definition
Main Activities
Similar Industries
Additional Resources

INDUSTRY AT A GLANCE

INDUSTRY PERFORMANCE
Executive Summary
Key External Drivers
Current Performance
Industry Outlook
Industry Life Cycle

PRODUCTS & MARKETS
Supply Chain
Products & Services
Demand Determinants
Major Markets
International Trade
Business Locations

COMPETITIVE LANDSCAPE
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Basis of Competition
Barriers to Entry
Industry Globalization

MAJOR COMPANIES

OPERATING CONDITIONS
Capital Intensity
Technology & Systems
Revenue Volatility
Regulation & Policy
Industry Assistance

KEY STATISTICS
Industry Data
Annual Change
Key Ratios

JARGON & GLOSSARY

Note: Product cover images may vary from those shown
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Note: Product cover images may vary from those shown

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