Legal Trends Report Dives Deeper into Industry Data (Sponsored)

Clio’s second annual Legal Trends Report is an even more in-depth look into the state of the American legal industry. Included in this year’s report is data from two supplementary surveys that offer further insights into how lawyers spend their time. This groundbreaking report helps lawyers make informed, data-driven decisions based on benchmark data. Last year, the Legal Trends Report introduced three key performance indicators—utilization, realization, and collection rates—to measure how much of a lawyer’s workday contributes to actual earnings. A key finding was that the average lawyer’s utilization rate—the number of hours billed in a typical workday—was only 2.3 hours. Worse, when factoring in realization and collection rates, firms only collected an average of 1.6 hours of billable time per day. This prompted Clio to investigate how lawyers are spending their non-billable time, and to identify opportunities for improving…

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