The Future Of Legal Business

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The Future of Legal Business – International Law Firms
What does John Doe, managing partner of a typical international law firm headquartered in London, think at the moment? His partners have asked him to come up with a three-year plan to strengthen the firm’s position in its home market and internationally. How to start? Times are tough, clients please themselves by putting pressure on costs, demand is stagnating, income growth is hardly recognizable, and profits are coming under pressure. Should he read any of these smart books or articles dealing with development of legal markets?
Well, looking at his bookshelf leads to immediate depression: Richard Susskind’s “The End of Lawyers?”, Larry Ribstein’s “The Death of Big Law”, Bruce MacEwen’s “Growth is Dead”, Mitch Kowalski’s “Avoiding Extinction”, Steven Harper’s “The Lawyer Bubble”, Stephen Mayson’s “Law Firm Partnership – The Grand Delusion”, Laura Empson’s “Partnerships – Will They Survive?” …
What do these books and articles tell him? All of these academics with their catchy book titles are not entirely helpful. Who has the crystal ball? Ah, Mr. Doe has interviewed many managing partners who should know what they are talking about, but what is this? The crystal ball contains a dark and gloomy smoky premonition: The Magic Circle, the colloquial term for the U.K.’s leading law firms, is predicted to disappear within the next decade. This doesn’t irritate our John Doe, as his firm does not belong to this distinguished
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