However, although multi-disciplinary mergers are seen as a way forward, 67% of respondents do not feel that mergers with accountants, insurers or banks are likely to happen at the moment. The research is based on interviews with around 30 managing partners last month by InfoTrack and Chilli IQ. 

Threats to business lines

While 25% of law firms say they have lost work to non-lawyer businesses, some 45% say that they know of other law firms which have been edged out in this way. Stephen Wood, CEO of InfoTrack, said: 'The challenge for firms now is to genuinely understand the potential threats to their business lines.' Source: Lawyers Weekly