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Corporate law firms have ridden out the Covid-19 shutdown relatively well so far. For every area of law that’s seen a fall in demand — such as litigation and financial accounting cases — it seems like others have presented new opportunities.
Law firm leaders we work with are reporting a jump in activity in employment and labor cases, steady work on intellectual property, and are expecting opportunities to pick up in the M&A and bankruptcy arenas as the economic fallout of the pandemic settles in.
What has been disruptive for the sector — and other professional services — is the sudden inability to carry out business development in the usual ways. Traditionally, business development has relied heavily on business conferences, wine-and-dine events, and travel for in-person meetings and networking.