LONDON, ENGLAND--(Marketwired - Jan. 20, 2015) - The legal industry is facing a time of transition, as traditional bricks-and-mortar firms compete with alternative business models, embracing new technology and cutting costs in whatever way they can. Add to that the fact that demand for legal services is greater than supply, and it's clear that the market is a minefield for less-than-stellar firms. Despite these challenges, last year was a defining year for the global law sector, and the 2015 World Finance Legal Awards offer an insight into the industry's brightest names.
Profits generated by the UK's top 10 legal firms last year were up $100,000 on the previous year, the net profit margin of US top tier firms came in at 47 percent, and billable hours went up across all international regions. The World Finance Legal Awards 2015 consist only of the firms that have spearheaded the latest industry developments and boosted profitability across the board.
By keeping abreast of client preferences and responding to an ever-changing marketplace, the winners of the World Finance Legal Awards 2015 prove that the global law sector is entering a new era. Not only do the awards name the most impressive firms in the business, but it also offers an indication of where the industry is headed in the future.
For a look at the winners of this year's Legal Awards, see the new issue of World Finance, available in print and online now.
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