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The legal services marketplace has become ever more competitive. Identifying a robust business strategy and sources of competitive advantage are difficult challenges for law firms today. The review of legal services carried out by Sir David Clementi, leading to the UK Legal Services Bill, paves the way for yet more change, competition and consolidation. As well as reviewing the way that law firms are regulated, the bill will de-regulate the ownership of law firms, so that they can be made public or owned by multi-disciplinary principals. For the first time, firms now face the prospect of not...

Examining the structure, strategy and ownership of law firms, this work describes the changing legal environment, explores the strategic choices for the firm, and describes the application of appropriate business principles to law firms.