The Law Firm of the Future - Adapting to a Changed Legal Marketplace (Hardcover)


During the ''golden age of law firm growth'' from the late 1960s until 2007, most large law firms adopted a default growth strategy, increasing practice areas and offices, aided by the momentum of the tail winds of law firm growth. Since the recession of 2008-2009, however, the legal marketplace has drastically changed. The market has become too sophisticated for undifferentiated large firms, and in this timely book, Jay Westcott suggests strategic building blocks that firms can adopt in order to adapt themselves to this radical change and prosper as lasting institutions. In order to counteract client pushback, firms must concentrate on their market strengths, and clients will differentiate firms by price, size, and expertise. This book will serve as a critical resource for law firm partners and managers who are interested in developing successful, distinctive firms. Law scholars will also be interested in this examination of the profession and how it is changing, as will clients and businesses.

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Product Description

During the ''golden age of law firm growth'' from the late 1960s until 2007, most large law firms adopted a default growth strategy, increasing practice areas and offices, aided by the momentum of the tail winds of law firm growth. Since the recession of 2008-2009, however, the legal marketplace has drastically changed. The market has become too sophisticated for undifferentiated large firms, and in this timely book, Jay Westcott suggests strategic building blocks that firms can adopt in order to adapt themselves to this radical change and prosper as lasting institutions. In order to counteract client pushback, firms must concentrate on their market strengths, and clients will differentiate firms by price, size, and expertise. This book will serve as a critical resource for law firm partners and managers who are interested in developing successful, distinctive firms. Law scholars will also be interested in this examination of the profession and how it is changing, as will clients and businesses.

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Reviews

RAPID LEGAL CHANGE IS UPON US, SO WE HAVE TO ADAPT- WESTCOTT GIVES US ONE SOLUTION An appreciation by Elizabeth Robson Taylor of Richmond Green Chambers and Phillip Taylor MBE, Head of Chambers and Reviews Editor, “The Barrister” Legal services and what the client need from us are stalled at a crossroad so Elgar’s new title “The Law Firm of the Future” written by Jay Westcott is most welcome with its interesting observations. The most important statements are emboldened to place emphasis on the major key points of significance throughout the book. Edward Elgar, the independent legal publishers based in Cheltenham are to be congratulated for publishing legal management books at a time of such change within the profession. As lawyers, we probably all think we know which way to go but there is always that doubt about whether we have the future of our business activities properly mapped out, or not. And there are many high-quality books now in the legal market to help us, “The Law Firm of the Future” being one of the most important. As the author says, “the market has become too sophisticated for undifferentiated large firms” so we get Westcott’s “building blocks” for adaptation. Do read the introductory chapter first where one finds the mission statement: “most firms would be well served to focus on their strengths which will be readily discerned by potential clients in the competitive and sophisticated market of today”. “Moreover”, Westcott concludes, “by adopting some proven good practices as part of their overall strategy, they can counter some of the distinct problems that have come with unrestrained growth”. The market for books on what the law firm of the future might look has expanded in recent years, mainly because of the options practitioners keep tripping over each time we attend a conference or read a legal magazine. Westcott gives us highly competent advice from his own crystal ball and it will be well-received in all quarters as we seek the new design of the successful practice. Yes - it helps! The book was published on 28th September 2018.

Product Details

General

Imprint

Edward Elgar Publishing Ltd

Country of origin

United Kingdom

Release date

September 2018

Availability

Expected to ship within 12 - 17 working days

Authors

Dimensions

234 x 156 x 10mm (L x W x T)

Format

Hardcover

Pages

176

ISBN-13

978-1-78811-969-6

Barcode

9781788119696

Categories

LSN

1-78811-969-X



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