Is the BigLaw business model sustainable?

This is the question that I was recently given five minutes to answer! This post is intended as a more expanded response. It begs some prior questions about what we mean by ‘BigLaw’, ‘business model’ and ‘the BigLaw business model’. But [spoiler alert] the short and long answers are the same: it doesn’t look like it.

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Regulation: from infection to inflection point

Here is a fascinating podcast: a conversation between Jordan Furlong (guest) and Professor Mike Madison of the University of Pittsburgh School of Law (host) on the future of law, re-regulation, access to justice, and the rule of law. Over many years, Jordan has perfected the gift of identifying nails in the legal services sector and then hitting each of them firmly on the head. This episode has a good number of those nails. In this post, I pick up on some of the themes it explores.

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Misperceptions of ‘deregulation’

Last month, Boston Consulting Group published a report that claimed to assess the effects of deregulating legal services in England & Wales, as driven by the Legal Services Act 2007. The analysis and conclusions are, to put it at its best, disappointing. I am grateful to have been spared the need to offer a detailed review, thanks to this informed critique of the report by Alison Hook.

In the interests of full disclosure, I should note that the report’s authors based some of their work on my independent review (Legal Services Reform: Regulation Beyond the Echo Chambers, published last year). However, having done so, their report could encourage others to take my principal conclusion – that further reform is needed – and, contrary to my intention, use it to amplify the echo within the chambers of my title.

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