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Five ways to ensure your firm’s professional services are ‘high art’

By Nick Jarrett-Kerr, Visiting Professor, Nottingham Law School

18 January 2013

A combination of recessional pressures and the tide of commoditisation has led to widespread discussion of the ‘new normal’ in which law firms are predicted to continue to decline in profitability and – in the case of weaker firms – face possible extinction.

It is asserted that all types of professional service firms have already faced similar commoditisation pressures and that the legal profession, as the last of the professional cottage industries, is merely playing catch-up in a world in which professional services are increasingly dumbed down and packaged – like off-the-shelf suits – into ready-to-wear interchangeable products.

Just as the clothing industry has a place for bespoke tailors and fashion icons, similarly there can still be a place for knowledge-intensive professional service providers within our future world of legal servi...

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