Rely on the most comprehensive, up-to-date legal content designed and curated by lawyers for lawyers
Work faster and smarter to improve your drafting productivity without increasing risk
Accelerate the creation and use of high quality and trusted legal documents and forms
Streamline how you manage your legal business with proven tools and processes
Manage risk and compliance in your organisation to reduce your risk profile
Stay up to date and informed with insights from our trusted experts, news and information sources
Access the best content in the industry, effortlessly — confident that your news is trustworthy and up to date.
Find up-to-date guidance on points of law and then easily pull up sources to support your advice with Lexis PSL
With over 30 practice areas, we have all bases covered. Find out how we can help
Our trusted tax intelligence solutions, highly-regarded exam training and education materials help guide and tutor Tax professionals
Regulatory, business information and analytics solutions that help professionals make better decisions
A leading provider of software platforms for professional services firms
In-depth analysis, commentary and practical information to help you protect your business
LexisNexis Blogs shed light on topics affecting the legal profession and the issues you're facing
Legal professionals trust us to help navigate change. Find out how we help ensure they exceed expectations
Lex Chat is a LexisNexis current affairs podcast sharing insights on topics for the legal profession
Discuss the latest legal developments, ask questions, and share best practice with other LexisPSL subscribers
We've read about it to the point of exasperation. The "new normal" for the legal services market. Basically, a shift in buying behaviours in a changing market environment, brought about by a compelling combination of external factors over a period of time, with increased competition from new market entrants thrown into the mix.
I don't think it needs to be explored in any more detail here, but I do think a different term should be used to describe this state of affairs; perhaps something like "normal".
This state of heightened buyer influence generally seems to be recognised by many law firms, albeit with varying degrees of reluctance and perhaps also a measure of "things are picking up again" denial.
Still, some evidence of progress seems to be appearing, in the form of increased focus on things like fixed pricing, project management, cost efficiency and increased investment in technology, marketing and social media. Whether these measures are merely cosmetic or truly transformational remains to be seen.
We hear less discussion about what this all means for the Bar and I think sets of chambers can be forgiven for feeling somewhat insulated from its effects. This is not because they are in any way immune to them, nor can they afford to be complacent.
However, market pressures of this sort are not a new phenomenon at the Bar, buyer p
Access this article and thousands of others like it free by subscribing to our blog.
Read full article
Already a subscriber? Login
0330 161 1234