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.
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
By Nick Hood
The UK legal market has been a challenging professional and financial environment for some years now, but 2013 is turning into a truly gruesome experience for lawyers of all specialisms and firms of all shapes and size.
An objective outside observer might be tempted to think that the Ministry of Justice is determined to re-prove Darwin’s theory of the survival of the fittest by moving the legal goal posts with such rapidity that most players are no longer sure any more which is the goal line, or indeed where the pitch is these days.
Hard on the heels of the most far reaching reform of civil litigation in several generations with the badly bungled implementation of the Jackson reforms, legal aid has been slashed, threatening the livelihood of even more lawyers.
The impact on financial performance is clear, even for the most powerful firms. A recent estimate published on the Legal Business website suggests that the profitability of the UK's top 100 law firms is c.25-30% below their boom-time highs. No wonder there have been cash calls on equity
Access this article and thousands of others like it free by subscribing to our blog.
Read full article
Already a subscriber? Login
Nick Hood is a Director of the legal costs firm, Kain Knight. He is a
Chartered Accountant and also an insolvency practitioner with the
Begbies Traynor Group, as well as a business risk analyst for corporate
health monitoring experts, Company Watch.
Email: email@example.com Tel: +44 (0)7967 658 296
0330 161 1234