New York: Major U.S. law firms saw a notable surge in client demand during the third quarter of 2025, signaling robust profitability prospects but also raising cautionary notes about sustainability. According to the latest Thomson Reuters Institute Law Firm Financial Index, demand across large and midsized firms rose 3.9% year-on-year, marking one of the strongest quarterly gains outside the post-pandemic rebound period.

Transactional legal services were the primary driver of the uptick. Midsized firms reported a 6.1% increase in transactional work, with mergers and acquisitions climbing approximately 6.7% and corporate legal services rising 4.4%. Real estate and tax-related legal work also recorded steady growth of 4.2% and 3.7%, respectively. Analysts attribute this demand to a combin

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