Legal Services

Legal Services

Brief Excerpt from Industry Overview Chapter:

Firms in this industry provide the services of lawyers and other legal practitioners to individuals, businesses, government agencies, and nonprofits. Major firms include Baker McKenzie; Kirkland & Ellis; Latham & Watkins; and Skadden Arps (all based in the US). A&O Shearman, Clifford Chance, Dentons, DLA Piper, and Freshfields Bruckhaus Deringer are all based in the UK.

COMPETITIVE LANDSCAPE

The overall health of the global economy, and the corresponding volume of commercial transactions, heavily influences demand for legal services. Large firms achieve success by working on cross-border cases for multinational clients and constantly expanding their industry practice areas. Small firms rely on serving local clients and developing expertise in a few practice areas.

PRODUCTS, OPERATIONS & TECHNOLOGY

Business and commercial law practices account for more than 40% of industry revenue; civil law account for about 25%. Real estate law account for nearly 10% and labor and employment law practices account for more than 5%.