Introducing Law2020TM
2007 was the most profitable year for law firms on record, and in the legal press that year we heard talk of law firm margins the likes of which even corporate giants would envy. As the decade turned, however, a shadow loomed. Not only had the economy turned sour, but clients were in revolt against high legal fees and at the billable hour itself. Moreover, clients began organizing their opposition to high rates in the form of the Association of Corporate Counsel’s Value Challenge. In 2010, it’s clear that a sea change is taking place, and law firms face the prospect of the most dynamic and threatening decade of the last fifty years.
Some firms will emerge from this decade thriving. Some will treat the changing environment as a field of opportunities and from that field will harvest real growth. What factors will allow those leaders to triumph? What skills will be needed, and what kind of leadership? What technologies will be key for those firms that not only survive, but thrive over the coming decade? And what can you do to acquire the skills you need to be part of a thriving firm?
Read more on page 42
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