There has never been a more challenging time to be running a law firm. Talking to solicitors around the country, including specialist and high-street firms, it is clear that adapting to the colossal changes that have swept the legal sector is essential, if they wish to survive and thrive.
The liberalisation of services, demise of legal aid, professional indemnity insurance headaches, and new regulations regarding fixed fees are all serious challenges to the legal profession. Law firms face a stark choice – adapt and invest to remain competitive or face extinction. These pressures are forcing firms to question their financial stability and, for many, raising seri...
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