// Ed. note: Welcome to our daily feature, Quote of the Day.

What I’m hearing from firms is while they are cautiously optimistic, they’re almost just looking into 2024 and planning for that, because a lot of their clients aren’t doing any deals right now. While they may have aspirations to do something, they’re just on hold for the foreseeable future.

googletag.cmd.push( function() { // Display ad. googletag.display( "div-id-for-top-300x250" ); });

— Heather McCullough, partner and co-founder of professional services counseling firm Society54, in comments given to the American Lawyer on Biglaw firms’ thoughts on the fourth quarter and beyond, given the fact that the legal profession is still dealing with a slowdown in corporate work. As noted by Am Law, the biggest of Biglaw firms are more “bullish” about the year to come.

Sponsored Announcing Ontra Atlas, Modern Entity Management Built for Private Equity Ontra Atlas extends Ontra’s Legal Operating System, an AI-enabled platform that digitally transforms critical legal workflows. From Ontra  

Staci Zaretsky is a senior editor at Above the Law, where she’s worked since 2011. She’d love to hear from you, so please feel free to email her with any tips, questions, comments, or critiques. You can follow her on Twitter and Threads or connect with her on LinkedIn.

googletag.cmd.push( function() { // Display ad. googletag.display( "div-id-for-middle-300x250" ); }); googletag.cmd.push( function() { // Display ad. googletag.display( "div-id-for-bottom-300x250" ); }); Sponsored Sponsored Pickleball, Pancakes, and PhDs – Balancing Law And Life Think you need to sacrifice one thing for the other? Think again. From Peerpoint   Sponsored Announcing Ontra Atlas, Modern Entity Management Built for Private Equity Ontra Atlas extends Ontra’s Legal Operating System, an AI-enabled platform that digitally transforms critical legal workflows. From Ontra   Sponsored InterAction+ Brings Power Of CRM Software To Law Firms Of All Sizes The only legal CRM with exclusive content from LexisNexis®. From LexisNexis® InterAction+™   Sponsored The Comprehensive Guide To AI For Private Equity Private equity firms need purpose-built legal AI to get real results. Ontra’s guide explores the risks of generic AI and how to evaluate AI vendors. From Ontra   Sponsored Beyond the Billable Hours: Finding Purpose in Your In-House Role Whether you're a seasoned attorney looking to rekindle your passion or a new professional navigating the challenges of the legal world, join us on October… From Axiom and Above The Law   Sponsored Pickleball, Pancakes, and PhDs – Balancing Law And Life Think you need to sacrifice one thing for the other? Think again. From Peerpoint   Topics

Biglaw, Law and Economics, Quote of the Day