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A good recession: Why the recession is good for law firms

Chris Smylie discusses why the UK legal profession should view the current recession in a positive light

3 October 2012

P.G. Wodehouse once observed that it is never difficult to distinguish between a Scotsman with a grievance and a ray of sunshine. True to my Celtic roots – and as my fellow partners will no doubt attest – I am not prone to bouts of unrealistic or unwarranted optimism. Nevertheless, I am increasingly inclined to the view that posterity may well yet reflect the current recession in a positive light, at least as far as the UK legal sector is concerned.

It might be regarded as something of an understatement to say that the period since 2007 has been a tough one for law firms and, of course, for very many of their clients.

In the heady pre-recession days when work formed an orderly and seemingly endless queue outside the doors of most large law firms, lawyers at all levels were used to working with a degree of freneticism which, if anything, left rather too little time ...

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