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Legal Lines   Wills And Trusts
 

Legal Lines Wills And Trusts

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    Legal Lines   Wills And Trusts Legal Lines Wills And Trusts Document Transcript

    • Brochure More information from http://www.researchandmarkets.com/reports/659022/ The UK Legal Services Market 2008 Description: The Changing Legal Services Market: a slowdown in revenue growth in the short-term followed by new ways of working, competition, and consolidation in a liberalised market In 2007, annual revenues in the UK legal services market increased by an estimated 9.8% over 2006 continuing the healthy year-on-year growth in the sector. The legal services market has traditionally been a resilient one during periods of economic downturn but the credit crunch and global economic problems are beginning to have an impact. As a result, revenue growth in 2008 and 2009 is likely to be at a much slower pace than in 2007. The UK Legal Services Market Report provides a market review of the UK legal services market, a market that is now set to experience a period of major change as liberalisation, increased competition, and new ways of working transform this traditional market. There are over 10,000 law practices in England and Wales and these range from large city-based international practices to sole traders on the high street. The range of work undertaken also varies considerably from areas such as conveyancing and will writing which is increasingly process-driven and commoditised through to corporate merger and acquisition work and corporate governance which can be highly detailed and time-consuming. While the sector is populated by many small and medium sized practices, it is the larger firms that take a dominant market share in terms of annual revenues. In 2007, for example, the top 100 UK law firms claimed almost 70% of total private practice revenues while the top ten firms accounted for an estimated 39% of all revenues. Many of the larger firms are increasingly looking to overseas markets to boost revenues as UK revenue growth slows. The Legal Services Act 2007 will provide the framework for significant changes in the industry in the next few years and these changes will include opportunities for outside investment in law firms, and the likelihood of the emergence of national legal brands. As competition increases, particularly in commodity law areas such as conveyancing and wills/probate, consolidation in the sector is inevitable although the scale of this consolidation is unclear. The pessimistic view is that thousands of law firms, mainly smaller operations, could disappear but we believe that the changes are likely to be much less dramatic. David Mort, notes that “so far, there is little evidence that non-law companies or venture capitalists are queuing up to buy into the legal services sector and a long-term economic recession could dampen interest even further. To fight the competition from new suppliers, innovative and nimble smaller firms will look to merge with other law firms or seek tie-ups with other professional services firms such as insurance companies and estate agents to offer one-stop local service shops, and seek to diversify their service offering. These tie-ups will also pool IT, marketing and other resources to improve efficiencies. Others may have specialist expertise which the new entrants cannot provide.” A closer and new look at marketing, an area which many law firms have traditionally failed to invest enough in, may also be required. Original consumer research in the report shows that the way consumers look for and choose legal representation is changing. Recommendations from friends or relatives are still the most important method. However, other traditional sources of finding a law firm, such as Yellow Pages and other local directories, are becoming less important for consumers while the Internet is becoming significantly more important. Contents: Executive Summary 1.Industry Overview 1.1 Report Coverage & Introduction 1.2 Market Size 1.3 Market Characteristics and Trends 1.4 Market Segmentation
    • 1.5 Industry Structure 1.6 Solicitor Numbers 2.Key Trends 2.1 Legal Services Act 2007 2.2 Alternative Business Structures (ABS) & Legal Disciplinary Practices (LDPs) 2.3 Post Legal Services Act 2007 Initiatives 2.4 Legal Services in Scotland 2.5 The High Street Brands 2.6 Legal Aid Review 2.7 Community Legal Advice Centres (CLACs) 2.8 Legal Fees 2.9 Home Information Packs (HIPs) 2.10 E-conveyancing 2.11 Personal Injury Claims 2.12 Claims Management Companies 3.Selected Bodies and Associations in Legal Services 4.PEST Analysis 4.1 Political 4.2 Economic 4.3 Social 4.4 Technological 5.IRN Consumer Research 5.1 Introduction 5.2 Key Survey Results 5.2.1 Channels Used to Find Legal Advice 5.2.2 Results by Age 5.2.3 Results by Social Class 5.2.4 Ratings of Law Firms and Solicitors Used 6.Competitive Structure 6.1 The Marketplace 6.2 Leading Law Firms 6.3 Law Firm Profiles Clifford Chance Freshfields Bruckhaus Deringer Linklaters Allen & Overy Lovells Eversheds DLA Piper Rudnick Gray Cary Slaughter & May Herbert Smith Ashurst Other Law Firms Norton Rose Simmons & Simmons Denton Wilde Sapte CMS Cameron McKenna Hammonds Addleshaw Goddard SJ Berwin Pinsent Masons Berwin Leighton Paisner Taylor Wessing Clyde & Co Irwin Mitchell 6.4 Local Law Markets and Key Firms 6.4.1 Scotland
    • 6.4.2 Birmingham 6.4.3 Cardiff 6.4.4 Manchester 6.5 Marketing Activity 7.Future Trends 7.1 General Trends 7.2 Forecasts 2008-2009 7.3 Summary of Future Market Influences Ordering: Order Online - http://www.researchandmarkets.com/reports/659022/ Order by Fax - using the form below Order by Post - print the order form below and sent to Research and Markets, Guinness Centre, Taylors Lane, Dublin 8, Ireland.
    • Page 1 of 2 Fax Order Form To place an order via fax simply print this form, fill in the information below and fax the completed form to 646-607- 1907 (from USA) or +353-1-481-1716 (from Rest of World). If you have any questions please visit http://www.researchandmarkets.com/contact/ Order Information Please verify that the product information is correct. Product Name: The UK Legal Services Market 2008 Web Address: http://www.researchandmarkets.com/reports/659022/ Office Code: OCSCB1966 Product Format Please select the product format and quantity you require: Quantity Electronic: EURO €616.00 Contact Information Please enter all the information below in BLOCK CAPITALS Title: Mr Mrs Dr Miss Ms Prof First Name: Last Name: Email Address: * Job Title: Organisation: Address: City: Postal / Zip Code: Country: Phone Number: Fax Number: * Please refrain from using free email accounts when ordering (e.g. Yahoo, Hotmail, AOL)
    • Page 2 of 2 Payment Information Please indicate the payment method you would like to use by selecting the appropriate box. Pay by credit card: American Express Diners Club Master Card Visa Cardholder Name Expiry Date Card Number CVV Number Issue Date (for Diners Club only) Pay by check: Please post the check, accompanied by this form, to: Research and Markets, Guinness Center, Taylors Lane, Dublin 8, Ireland. Please transfer funds to: Pay by wire transfer: Account number 833 130 83 Sort code 98-53-30 Swift code ULSBIE2D IBAN number IE78ULSB98533083313083 Bank Address Ulster Bank, 27-35 Main Street, Blackrock, Co. Dublin, Ireland. If you have a Marketing Code please enter it below: Marketing Code: Please note that by ordering from Research and Markets you are agreeing to our Terms and Conditions at http://www.researchandmarkets.com/info/terms.asp Please fax this form to: (646)607-1907 or (646)964-6609 - From USA +353-1-481-1716 or +353-1-653-1571 - From Rest of World