LexisNexis’ Bob Hadingham argues that law firms should be gearing up to radically overhaul their underlying business processes in order to emerge from the recession in the best possible form
The recession has thrown the legal sector into turmoil – not simply because of some of the predictable ways in which law firms have reacted to market conditions, such as cutting staff, laying off associates and even de-equitising partners. It has initiated irreversible change. For instance, hourly rates for legal services could soon be a thing of the past, as could the notion of ‘partner for life’.
