Experts expect more innovation and deals in legal tech, hot Big Law talent wars, and trouble for some pandemic-impacted industries.
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The Big Law talent wars will continue
Big Law associates, overworked from an avalanche of deals, have been showered with raises and special bonuses in 2021 by firms desperate to keep them.
2022 is on track to be just as hot, according to recruiters.
Insider spoke with four industry experts to learn what’s in store for the legal industry in 2022. They said there’s no sign that the torrent of legal work will slow down enough to affect talent-market conditions.
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4 legal recruiters share their predictions for another ‘insane’ hiring season in 2022: Tech company work will be especially hot
The legal tech industry will mature
It’s been an exciting year for legal tech, which saw a flurry of M&A activity, an outpouring of capital, and a record-breaking number of companies hitting the public markets.
Law firms and corporate legal departments have doubled down on tech, from the way they manage their contracts to how they strike deals.
Many of the trends that defined this year for legal tech will continue in 2022, according to experts. Insider spoke with seven legal-tech experts about the biggest trends of 2021, and how they’ll likely shape the year ahead.
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Here’s what 7 legal-tech experts predict for 2022: M&A, IPOs, and price volatility
Bankruptcies will pick up again
2021 saw a record decline in Chapter 11 filings, but that lull won’t last forever. As the Omicron surge disrupts travel and return-to-office plans, bankruptcy lawyers are preparing for a busier 2022.
As the pandemic stretches on and federal stimulus support wanes, companies in the hospitality, physical retail, travel, and commercial real-estate sectors appear especially vulnerable, bankruptcy experts said.
“You’re going to see some cracks into Q1, Q2 of next year,” Meagen Leary, co-chair of the business reorganization and financial-restructuring group at Duane Morris, said.
Insider spoke to Leary and four other bankruptcy lawyers to learn what’s in store for 2022.
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Bankruptcies are expected to tick higher in 2022. Hear from 5 experts on the industries most likely to crack first.Read the original article on Business Insider 
