Law Firms in Canada
Over the five years to 2018, the Law Firms industry in Canada has undergone strong growth. Demand for legal services has been facilitated by increases in corporate profit margins, restructurings, secondary offerings and other capital market activity. This has benefited the industry's top firms, which receive the bulk of their revenue from corporate clientele. In addition, the industry's small- and mid-sized players benefited from a rise in Canadian business formation, which has expanded the overall pool of potential legal clientele. Lastly, strong growth in Canada's real estate market has bolstered demand for firms specializing in real estate law. Overall, these trends are expected to continue over the five years to 2023. Given Canada's abundance of natural resources and sophisticated legal market, demand for industry services will be spurred by international investment and trade.
This industry comprises offices of legal practitioners, such as lawyers, barristers and solicitors, primarily engaged in the practice of law. The industry’s establishments provide expertise in a range of areas of law, such as criminal, corporate, family and estate, patent, real estate and tax.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
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