The roundtable report produced by Legal Futures, in association with Thomson Reuters, looks at what law firms in the smaller to mid-tier market are doing to grow their profit margins, at a time of economic uncertainty and ever-greater competition. To download the full report please click here.
Chris Jeffrey of Thomson Reuters argued that “To stand out from the crowd and win new work, lawyers need to be good at more than the law …”
Topics discussed at the roundtable affecting the legal profession included:
- the state of the legal market
- preparing for uncertainty
- recruitment opportunities
- expanding beyond the law
- giving clients what they want
- how much of a hindrance is a partnership structure?
- differentiating one’s self
In terms of Sherrards’ differentiation, Paul Marmor, Head of Litigation and International Services, commented that: “We have found that there has been interest from foreign companies coming to the UK looking for bargains following Brexit. Particularly in China, we have seen some real interest in UK business and in the UK property market.”