Nimble Trends - 15 January 2018

The law firm merger market is "white hot", the Big 4 continue to make a push into the legal market, BigLaw is practicing "Consensual Neglect", Small Law Firms need help with the business side, 2017 Cyber Security lessons learned, the potential impact of GDPR, and other trends from the past couple of weeks.

Here is the trending legal news:

Legal Industry Trends

The Merger Market for Law Firms in 2017 was “White Hot”.  Expect to see that continue in 2018.  https://biglawbusiness.com/2017-record-year-for-law-firm-mergers/

A rosy year in 2018 for law firms?  That’s what one law firm chairman predicts.  https://www.law.com/americanlawyer/sites/americanlawyer/2017/12/29/what-me-worry-some-law-firm-leaders-see-rosy-2018-ahead/

“The traditional law firm pyramid has been turned on its head.”  https://www.forbes.com/sites/markcohen1/2018/01/02/differentiation-in-the-new-legal-marketplace-and-why-it-matters/#502120338eff

The legal industry gained 600 jobs in December but overall we’re still about 50,000 less jobs than in 2007.  https://www.law.com/americanlawyer/sites/americanlawyer/2018/01/05/legal-sector-posts-modest-job-gains-in-december/

#MeToo is causing law firms to launch practice groups for internal investigations.  https://www.law.com/newyorklawjournal/sites/newyorklawjournal/2018/01/08/as-metoo-roils-clients-stroock-launches-unit-to-vet-sex-claims/

Many law firms are developing expertise in Blockchain.  https://biglawbusiness.com/blockchain-makes-new-waves-as-law-firms-build-expertise/

Deloitte has applied to more broadly provide legal service delivery in the UK, joining PwC, EY, and KPMG.  https://www.thelawyer.com/deloitte-becomes-last-big-four-apply-abs/

Law Firm Leaders are not confident of growth in 2018.  https://abovethelaw.com/2018/01/law-firm-leaders-are-completely-confident-that-they-dont-have-much-confidence/

Another Warning for BigLaw and a Claim of “Consensual Neglect”.  https://abovethelaw.com/2018/01/new-warning-for-biglaw-firms-not-that-theyll-listen-anyway/


Law Firms

Smaller Law Firms Often Find Themselves Struggling with the Business Side of Running a Law Firm.  Nimble’s team helps small law firms run their businesses relieving that burden.  https://abovethelaw.com/small-firm-center/2018/01/small-firms-reveal-top-challenges-and-theyve-got-nothing-to-do-with-law/

Ballard Spahr merged with Lindquist & Vennum.  https://biglawbusiness.com/ballard-spahr-merges-with-170-lawyer-firm/

192 lawyer Wisconsin firm acquired a 22 lawyer Wisconsin firm, keeping the law firm merger mania going in 2018.  https://www.law.com/americanlawyer/sites/americanlawyer/2018/01/05/regional-wisconsin-firm-snaps-up-two-smaller-shops/

Littler has hired its first Chief Data Analytics Officer.  https://www.littler.com/publication-press/press/aaron-crews-rejoins-littler-chief-data-analytics-officer

Law Departments

Wells Fargo’s Deputy GC has left the company.  https://www.law.com/corpcounsel/sites/corpcounsel/2018/01/09/deputy-general-counsel-two-other-execs-exit-embattled-wells-fargo/

Cyber Security

Lessons learned in 2017.  https://www.law.com/corpcounsel/sites/legaltechnews/2017/12/29/4-lessons-companies-can-and-should-learn-from-2017s-data-breaches/

Data Breach at the Department of Homeland Security by a former employee.  https://biglawbusiness.com/about-250k-homeland-security-workers-affected-by-data-breach/

Cyber Security spend at law firms and law departments will increase in 2018.  https://www.law.com/corpcounsel/sites/legaltechnews/2017/12/27/cybersecurity-spending-at-law-firms-legal-departments-is-predicted-to-increase-in-2018/

Data Privacy

GDPR has penalties as high as 4% of gross annual turnover and is extra-territorial.  Our compliance services team can assist companies and law firms in this area. https://biglawbusiness.com/gdpr-as-transforming-data-privacy-requirements-for-companies/

Compliance

In-house lawyer regrets helping draft contracts for bribes in FCPA matter.  https://www.law.com/corpcounsel/sites/corpcounsel/2018/01/02/in-fcpa-case-in-house-lawyer-wishes-he-had-quit-over-bribes/