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Legal Services Global Market Briefing Outlook 2016

Legal Services Global Market Briefing Outlook 2016

From $1,000.00

Including – Offices of Lawyers, Title Abstract And Settlement Offices and Offices Of Notaries.

Covering – Deloitte, Latham & Watkins, Baker & McKenzie, DLA Piper and Skadden, Arps, Slate, Meagher & Flom


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SKU: 1371. Categories: , .
Description

A legal services company advises clients (individuals or corporations) about their legal rights and responsibilities, and represent clients in civil or criminal cases, business transactions, and other matters in which legal advice and other assistance are sought.

Legal services Global Market Briefing provides strategists, marketers and senior management with the critical information they need to assess the global legal services.

Reasons to Purchase

  • Get up to date information available on the legal services market globally.
  • Identify growth segments and opportunities.
  • Facilitate decision making on the basis of historic and forecast data and understand the drivers and restraints on the market.
  • Develop strategies based on likely future developments.
  • Gain a global perspective on the development of the market.
Additional Information
Markets Covered:

Civil Law Practices, Criminal Law Practices and others.

Companies mentioned:

Deloitte, Latham & Watkins, Baker & McKenzie, DLA Piper USA, Skadden, Arps, Slate, Meagher & Flom, Kirkland & Ellis, Allen & Overy, Jones Day, Sidley Austin, Morgan and Lewis & Bockius

Geographic scope

Americas, Europe, Asia, Middle East and Africa, Oceania.

Time series:

Five years historic and forecast.

Data:

Market value in $ billions.

Data Segmentations:

Regional breakdowns, market share of competitors, key sub segments.

Sourcing and Referencing:

Data and analysis throughout the report is sourced using end notes.

Table Of Contents
Legal Services Market Characteristics 5
Legal Services Market Historic Growth 6
Drivers Of The Market 7
Restraints On The Market 7
Legal Services Market Forecast Growth 8
Drivers Of The Market 9
Restraints On The Market 9
Legal Services Compared With Other Segments Of Professional Services 10
General professional services 11
Legal services 11
Accounting 11
Legal Services Market Regional and Country Comparison 12
Global Legal Services Market, Split By Region, 2015 12
Global Legal Services Market, Historic and Forecast Growth Rate, By Region, 2011-2019 13
Global Legal Services Market, Split By Country, 2015 15
Global Legal Services Market, Historic and Forecast Growth Rate, Split By Country, 2011-2019 17
Legal Services Market Segmentation 19
Legal Services Market Size, Split By Segments, 2015, $ Billion 19
Legal Services Market Competitors 20
Deloitte 21
Latham & Watkins 23
Baker & McKenzie 24
DLA Piper 25
Skadden, Arps, Slate, Meagher & Flom 26
Legal Services Market Mergers And Acquisitions 27
Legal Services Market Trends And Strategies 28
Legal Process Outsourcing To Cut Costs 28
Changing Purchase Patterns And Demand For Alternative Legal Services 28
Alternative Billing Models 28
Alternative Legal Service Models 28
Professional Services Appendix 30
Accounting Services 30
Design, Research, Promotional And Consulting Services 30
Architectural, Engineering, And Related Services 30
Specialized Design Services 31
Management Consulting Services 32
Environmental Consulting Services 33
Scientific Research And Development Services 33
Advertising, Public Relations, And Related Services 34
Market Research And Other General Professional Services 34
Photographic Services 35
Legal Services 35
Research Methodology 36
Abbreviations 36
Currencies 36
Research Inquiries 36
The Business Research Company 36
Executive Summary
Legal services comprises offices of lawyers, title abstract and settlement offices, offices of notaries. The various types of laws predominantly followed in most countries are criminal law and civil law. The legal professionals in the legal services industry include solicitors, barristers, and lawyers.
The global legal services market is expected to grow to more than $750 billion in 2019. Many domestic law firms are entering into new markets, collaborating with foreign counsels to offer wide range of services, thereby eliminating boundaries on the geographic scope of law practice. Globalization is gaining momentum due to rapid growth in internet, automation of legal processes and developments in data security. Also, in many parts of the world there was limited demand for more sophisticated services. Now many clients have globalized and thus require more sophisticated and internationally-oriented legal service providers with global reach.
The top ten competitors in the market made up approximately 4% of the total market share in 2015. Deloitte was the largest competitor with 1% of the market, followed by Latham & Watkins, Baker & McKenzie and DLA Piper USA. Pressure to control costs have forced law firms to move away from traditional by-the-hour billing models to alternative billing models. The new alternative billing models include fixed, flat blended and capped fees. Many law firms are switching to alternative billing models to build long term relationships with clients and to maximize value they are offering to clients. According to a survey by the US law department, about 70% of fees paid to outside counsel was not based on standard hourly rates or the billable hours.
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