What kept law firms going during the pandemic - Moneycontrol
Unlike many other industries, which saw huge job losses, most law firms got by comparatively unharmed with their corporate practices keeping them afloat.
Over two years ago, when the COVID-19 pandemic hit, judicial services came to a complete halt and people in the legal profession, just like those in other professions, were hit hard.
Even corporate and full-service law firms, which draw most of their business providing dispute resolution services and legal services beyond litigation, struggled as business and economic activity came to a grinding halt.
But, for the most part, these firms sailed through with minimal damage and are on their way to reaching pre-pandemic levels of business. Unlike private practitioners, who rely solely on litigation and court work for their earnings, law firms ventured into different practice areas and tapped on novel sectors that came up due to the coronavirus.
We take a look at how law firms kept going over the preceding two years as the world reset in the wake of the COVID-19 pandemic to enter a new normal.
Immediate aftermath
The pandemic brought with it many uncertainties and changed the way business was conducted. With corporates and businesses looking to minimise losses, the corporate advisory practice of law firms saw an uptick.
“People wanted to renegotiate leases, terminate employees, change employment terms,” says Shoubhik Dasgupta, Partner, Pioneer Legal who attributes this change to the increase in corporate advisory work.
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