07 Oct 2022
Today, LexisNexis Legal & Professional, a leading global provider of legal information and analytics, has released an updated version of its Gross Legal Product (GLP) Index, focusing solely on the predicted growth in corporate, commercial and competition law. Inspired by the Gross Domestic Product (GDP), the Gross Legal Product framework pulls data from a wide range of different datapoints to predict growth across multiple practice areas of the law.
The report reveals that, after a ferocious post-COVID return to growth, the market is likely to cool substantially. The post-lockdown boom that saw demand for legal expertise go through the roof in the second half of 2021 may be short-lived. A new set of challenges including rising inflation, new regulations and sanctions, and the threat of a recession appear to have stagnated growth for some practice areas – although not all.
Visit our Knowledge Bank to obtain a full copy of the report
The Index measures growth from Q1 2016 through to predictions for Q1 of 2024 – showing how each practice area has performed throughout major events including Brexit and the COVID-19 pandemic. It predicts growth figures across the economically uncertain times that lie ahead.
