Report on commoditisation in the legal services sector
Clients see most legal work as commoditised while the lawyers still consider most of their work bespoke. Clients have already realised massive savings on their external legal spend while law firms report business as usual. The report by TGO Consulting finds an explanation for this paradox. The trend is clear, but the blow it yet to come. Commoditisation is silently but rapidly undermining the law firms’ traditional business model that is still tailored towards bespoke work.
Senior lawyers from over a 100 business law firms across Europe were invited to participate online between 29 February 2016 and 11 March 2016, on an anonymous basis. On the client side, 15 general counsel, or persons in charge of managing outside legal services were interviewed face-to-face on the subject of commoditisation of legal services. All 15 interviewees represent internationally operating companies that are large buyers of legal services across several jurisdictions.
We would like to thank everyone who participated.
Click on report to open.