The US legal industry is 1.5x the size of Europe’s and more than 3x the size of Asia’s as per Statista.com
I understand it is the most litigious country, but even in terms of transactions (M&A, PE&VC etc), USA accounts for roughly 1/3 of the global market.
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The US economy is very easy to start a small business in, generating a lot of legal paperwork business. Most small businesses fail outright, but a fraction of them are simply bought by larger competitors. That leads to all the M&A needs. A few become large, stable businesses, and start buying small competitors.
It’s win-win-win for corporate lawyers.
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