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WHAT WE’RE WATCHING
BEING THERE - There’s been a lot of talk recently (including in this space) about how geographical boundaries are no longer as limiting as they once were for law firms looking to grow their reach, thanks to the success of remote work during the pandemic. Firms can now hire lateral partners outside of their existing geographic footprint without having to open a nearby office, and we’re increasingly hearing that clients don’t particularly care where (or even whether) their outside counsel leases space anymore. But as law firms’ appetite for mergers and acquisitions begins to grow once again after a brief lull last year, it’s clear that location is still a major factor in deciding which firms to join forces with. In this week’s Law.com Trendspotter column, we look at why the merger market could be frenzied in 2021 and why firms are increasingly looking for combinations that will give them a presence in markets that complement their practice strengths.
