The Legal Services Act 2007 has fundamentally altered the legal market, transforming the regulatory framework and economic landscape. In an increasingly competitive market place, law firms must make strategic choices that will affect their long-term prospects. "Strategy for Law Firms" guides firms through the strategic options available to them and suggests how they might position themselves to succeed in the market. The book provides a practical approach that is underpinned by sound strategic and academic principles. The author offers insight, drawn from his vast experience of the legal market, on a range of topics including: harnessing a firm's intangible resources and capabilities; competitive positioning; the creation of a value added strategic plan; Alternative Business Structures as a tool to implement strategy; mergers; law firm funding and valuations, including external funding; governance; and profit sharing. The author has created a new framework with which to analyse and assess your firm's position in the market, and identifies and explains 15 possible models of ABS under the new rules. Although primarily aimed at law firms in the UK, the book is relevant to legal firms around the world.
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'Readable, practical and thought-provoking throughout. I have no criticisms of this excellent book, which misses nothing and could well become an industry standard for the next few years.' Managing for Sucess
About the Author
Nick Jarrett-Kerr LL.B is a specialist adviser to law firms world-wide on issues of strategy, governance and leadership development as well as all important business issues facing law firms as they compete in difficult market conditions. In the last eight years, Nick has established himself as one of the leading UK and international advisers to law firms. He was a founder member of the (England & Wales) Law Society's Law Management Section and served as its Chairman for two years. Nick is also is a module leader for the Nottingham Law School strategy modules and a core MBA faculty member. Michael Roch contributed the chapter on Law Firm Valuation and advises professional service firms on the economics of their practice.
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