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The future of law firm profitability

In ten years time, law firms will function in a very different manner from the way they do today. In particular, profitability will be affected by the fact that some practice areas will become more price-sensitive and clients will be more demanding. Norman K. Clark of Altman Weil Inc explores how firms will be able to counter these trends by making the most of new technologies to boost profit levels.

30 September 2000

In ten years time, law firms will function in a very different manner from the way they do today. In particular, profitability will be affected by the fact that some practice areas will become more price-sensitive and clients will be more demanding. Norman K. Clark of Altman Weil Inc explores how firms will be able to counter these trends by making the most of new technologies to boost profit levels.

A guided tour of the law firm of 2010

If we visit a successful law firm in the year 2010, we may not immediately recognise what we see:

First of all, the law office will appear to be more like the communications centre than a traditional place of business. There will not be as many people there as we saw in a law firm of the 1990s. We might not see many lawyers at all, even in the largest firms. Wireless and Internet-based communications technology will allow lawyers to be wherever they need to be to serve clients bes...

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