Innovation in the City

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10 November 2014


This first Legal Futures Special Report, in association with Thomson Reuters, examines the changing face of City law firms. It demonstrates how far City law firms have moved in a relatively short period of time, mainly (but not exclusively) in response to the recession and the demands of their clients.

Many are coming up with a range of tactical and strategic responses to the challenges they face, while a smaller number are rethinking the way they do business, and the value and service they provide to clients. Through interviews with leading figures in the City, and a roundtable debate between representatives of the new entrants to the market and traditional big firms, this Special Report shows how innovation is as much part of the City’s story as it is the rest of the profession’s in the ABS era.


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Lawyers must now draw on the data and drive change

Chris Marston 2014

The results from this year’s legal services consumer tracker survey make for interesting reading. In its sixth year, the research finds that a firm’s reputation continues to grow in importance, holding its top slot as the number one factor influencing choice of lawyer, with price remaining a strong second, reflected in a shift towards higher numbers of fixed-fee transactions. Alongside, it reports that trust in lawyers has declined to 42%, from 47% in 2012. It’s useful information as far as it goes, but what is the sector going to do with it?

September 26th, 2016