Gillman Market Barometer

Practice
Area
GaugeOpportunitiesUncertainties
Corporate / Mergers and Acquisitions/ Opportunities shifting to mid-market firms, they are looking to grow with those leaving other firms “find me somebody who got fired,” As some of the larger firms such as Kirkland and Gunderson lay off lawyers. Economic activity/recession.
Capital MarketsCapital Markets is down all over. If you can you may want to think about retooling into finance, even better would be debt finance as bankruptcy gets busier.
Funds Lawyers and FinanceDemand for funds lawyers are up all over, if you can retool as a funds lawyer, this is an area that is seeing sustained demand.

Finance is a little less clear: it seems that finance is holding steady.
EnergyWhile many corporate practices have been down for 2022, the energy market continues to be strong with many deals proceeding. If you focus on a down market and are looking for opportunities, retooling for energy may be a good move.

This seems to be at least partly driven by the Inflation Reduction Act money.
The long-term impact of the Inflation Reduction Act.
BankruptcyThere is an expectation that a recession is on the horizon and large firms that can hire in advance are hiring in advance.

M&A Lawyers may want to retool and rebrand for restructuring deals and workouts – this is similar to M&A.
Will there be a recession?
Labor and EmploymentYears ago this was a slow and steady practice, but it heated up with the COVID shutdown. It remains hot, with employees not wanting to return to offices, layoffs with companies experiencing the recession, and general uncertainty in the labor market. The impact of the recession on the labor market.
LitigationExpecting to see an uptick in litigation because it is a counter-cyclical practice. As deals go bad we’d expect people to sue over these deals rather than move to the next one.

Also, many court closures created a backlog of cases, and as courts catch up, this has created demand for more litigators.
If clients experience a recession they may not want to pursue expensive litigation. The impact of a recession, therefore, is an uncertainty.
Commercial Real EstateReal Estate is off everywhere at the moment because borrowing money is expensive and the direction of interest rates is unclear.

Sit back, build your book of business, and be ready for the next wave.

Real Estate is not down in Florida… one of the few exceptions to the rule.
The future of interest rates.
Environmental Social And Governance (ESG) and RegulatoryRegulatory practices are strong across the board – if you feel that your practice is threatened look for an opportunity to retool as ESG.Political impact on ESG programs and future.
Intellectual PropertyBio-Tech was up at the beginning of the pandemic, and it continues to be sought after. There is a lot happening in electrical engineering, computer science, and pharma/biotech seem to be the busiest areas right now.

Patent litigation has been very busy.
Privacy and Cyber LawCyber attacks continue to grow and reveal privacy issues. This looks like an area for growth if it is an area you are interested in pursuing.

These are things you can still learn, take a CLE course.
HealthcareContinues to be very active and sources tell us that this is an opportunity for the future.

If your corporate practice is down, consider a CLE in Healthcare.
Cannabis Everybody says that there is an opportunity in the Cannabis market, but we aren’t seeing it so strongly.