Several Thompson Coburn attorneys recently shared insights with Law360 on legal trend predictions for 2024 – on topics including law firm growth and compensation, retail cases to watch, and the legal impact from AI technologies.
- In an overview of what law firm managing partners expect to see this year, firm chair Roman Wuller discussed Thompson Coburn’s growth from lateral hires in 2023 and said he anticipates the growth trend to continue in 2024. On the ongoing salary competition between firms, incoming chair Chris Hohn noted that the firm will remain nimble and adjust bonus and salary structures as needed to ensure competitiveness in the market.
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- Partner Mark Indelicato shared thoughts on the outlook for retailers after several big names in the past year have filed for bankruptcy, noting that optimism is growing in light of a potential pause to interest rate increases. He added that we’re likely to see more traditional retailers restructuring to get out of leases toward the second quarter of 2024.
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- In the data privacy and security arena, partner Luke Sosnicki spoke about the legal impact of artificial intelligence technologies. “AI will likely dominate the conversation next year just as it dominated 2023,” he said. “The bounds of what information companies may or may not use to continue to develop are just now beginning to be explored.”
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