11 May 2012

LILO - Lawyers in lawyers out

Internationally the law firm scenario is changing rapidly as clients are demanding performance and accountability of lawyers's work - it's the beginning of the end of low skilled, high rates hourly billings. Top lawyers will of course continue to be extremely expensive, and commodity lawyers will earn much lower returns per hour. Clearly, there is opportunity at that level with scaling up of numbers, making up in turnover what they are losing in margins.

At the same time, overly aggressive law firms some of which borrowed money to expand and pay remuneration are likely in trouble - with one of them close to declaring bankruptcy.

PS: It seems Nicolas Sarkozy is going back to practice law.

No comments: