The growing trend for businesses to choose niche legal providers to obtain better value

It seems that e3 is at the forefront of a new wave of law firms catering to the changing needs of the business world.

 

You cannot open the business periodicals or the legal press at present without seeing one informed commentator or another describing the growing trend for discerning businesses to move away from large full service legal providers and to choose smaller niche firms who provide the twin business benefits of extra specialism and greater cost efficiency.

 

Examples of recent commentary includes: 

 

The Law Society Gazette of 12 June 2013 reporting that the Solicitors Regulation Authority has revealed that "more than 30 of the top 200 UK law firms are in serious financial difficulty".

 

The Law Society Gazette front page report of 18 March 2013 under the heading "Emergency declared ..." following the collapse of more large law firms in which it quoted Law Society Chief Executive, Desmond Hudson's warning to law firms: "If your business model is not as efficient as others, you will feel the chill winds of change."

 

John Hyde in the headline story in the 4 March 2013 Law Society Gazette citing legal finance experts view that "the demise of top-100 firm Cobbetts should serve as a wake up cal for legal practices with outdated structures and mounting bank debts."

 

Eduardo Reyes' feature article in the Law Society Gazette referring to US lawyer-economist, Michael Trotters analysis that "the largest corporate law firms are wedded to an unsustainable business model that is designed around the support for the massive overheads such firms have acquired

 

Chris Barry in The Business Desk referring to "the continued rise of niche players challenging established firms"

 

Bruce MacEwen in Legal Week describing the fundamental economic problems facing 'big law' firms saying, "Simply put, clients are pushing back as never before ... they are serious for the first time about alternative fee arrangements, strongly resisting - even refusing - paying for junior associates."

 

Legal 500 directory predicting opportunities for smaller and newer players to provide niche offerings and to gain market share



e3 employment law LLP was created in response to grass roots feedback from the business community on the need for greater value from their lawyers, both in terms of expertise and efficiency. It seems that the move away from big law firms and towards niche legal service providers is a growing trend.

 

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