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The new model of law firm

Innovation is just as important for legal practitioners as it is for consumers of legal services, writes Bhavini Kalaria

31 January 2017

With the Panama Papers scandal, the three-way merger of CMS, Nabarro & Olswang confirmed, and Brexit, 2016 was an interesting year.

All of these distinct events have one thing in common: lawyers themselves, whether that’s the type of lawyer, the knowledge of the lawyer, or the importance of retaining good lawyers. This year will no doubt see lawyers, and how lawyers do business, once again in the limelight.

New business structures

In the post-2007 landscape, law firms have explored different business structures to attract outside investment and to enable non-lawyers to be part of the overall management. Firms used the more open regulatory framework to see how to better manage themselves – not just to deliver a more commercial service to their clients. Some of the other responses to the perceived openi...

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