Global News
Clio, a cloud-based legal technology provider, has released its 2023 Legal Trends for Solo Law Firms report, highlighting that solo lawyers are becoming increasingly popular, with 31% of lawyers who left their firms in 2022 starting their own solo practice.
The report indicates that solo lawyers are more capable of building deeper client relationships than lawyers at larger firms and are more likely to embrace remote and flexible work schedules. However, many solos risk overextending themselves by working late and on weekends.
The report also found that the adoption of cloud-based technology has helped solos manage their workloads, while new advances in legaltech give them many opportunities to innovate their capabilities. Solo lawyers' businesses have seen slower growth, lower performance across key business metrics, and lower hourly rates than larger firms. Nonetheless, being a solo gives them more freedom to work when and where they want, as more solos prefer to work at home and half prefer to work with clients virtually.
Tech adoption remains high among solos, with most using cloud-based practice management software.
Click here to read more or download the report.
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