Commoditisation of legal services
Few of us have failed to notice how clients are changing the manner in which they purchase external legal services and their efforts in putting pressure on pricing. At the same time, law firms are reporting more or less business as usual. How can this be?
TGO Consulting undertook a quantitative survey amongst lawyers aimed at canvassing to which extend there is a real downward pressure on the price of legal services. Senior lawyers from over a 100 business law firms across Europe were invited to participate on-line, on an anonymous basis.
Further, 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 interviewees represent internationally operating companies that are large buyers of legal services. The results presented in this report are thought-provoking and we hope that our conclusions stimulate a further debate.
A PDF version can be downloaded for free by clicking on the picture of the report on the left side of this text. If you are interested in a complimentary hard copy please do not hesitate to request one here.
TGO Consulting conducts research into aspects of the legal market worldwide and publishes reports that provide insights into both clients’ buying behaviour as well as the organisations of legal service providers. We collect and analyse market data, conduct in-depth interviews as well as quantitative surveys, whichever will be fit for the purpose at hand.
We are currently, amongst other, working on a report on legal markets in Africa, as well as a report jointly with a Fortune top-10 company that will examine current and future tools in buying legal services.
Partner mobility in the German market
This is the first report that presents an in-depth analysis of lateral partner moves in the German market over a longer period of time. It covers the hiring activity of the 25 top-ranked law firms in the German legal market since the start of 2011. For the first time, it is revealed that the German lateral hiring market has evolved to reach an unprecedented high and that partners are shifting across the board. An analysis of the data provides an insight into the practice areas that are most concerned and which type of firms are hit the hardest by equity partners seeking opportunities elsewhere.
In a sector where the hunt for talent is fierce and law firms are scrambling to shape themselves for the opportunities to come, top lawyers are simply in too high demand to be loyal. The results of this report can be seen as a sign of the times we can expect ahead. With Brexit on the horizon firms will jostle to position themselves in order to benefit from a shifting market. In an ever more competitive playing field the fittest will survive.
A PDF version can be downloaded for free by clicking on the report. If you are interested in a complimentary hard copy please do not hesitate to request one here.