Guy Vincent, a partner at Bircham Dyson Bell and a contributing blogger for Managing Partner magazine, recently wrote an article titled New Players In The UK Legal Market May Cause A Bloody Revolution.
His article lends further support to the arguments I made in my prior blog post. I have reproduced several choice quotes from the article below.
- “In our legal pond, there are more new players emerging by the day. . . There will be more to come. These new entrants all have deep pockets and substantial resources. They can use their capital base to advertise widely and invest heavily in technology.”
- “The marketplace for legal services will undoubtedly be expanded as the new players aggressively pursue people who may not normally spend money with lawyers. However, they will not just create a new client base. They will also raid the existing client base of many practices. It won’t just be firms specialising in volume work or selling low-cost services that will be affected by the new entrants. The new kids on the block are not going to stop there.”
This is a great article but its title is too guarded. The question is not whether a revolution will occur. The question is when will the revolution occur.