James Caan – the charismatic chief executive of London-based private equity house Hamilton Bradshaw, and former star of BBC Television’s Dragons’ Den – told The Times newspaper that ‘just because you are a good lawyer, doesn’t mean you are a good businessman’. Mr Caan has just announced his involvement in an investment deal with an English provincial law firm under the newly instituted alternative business structure rules, so his brutal opinions have legitimacy. But only a few law firms will be able – or will be allowed – to bring in external investment. Others will need to brush up their business skills in other ways, and, as our survey of leading global partners illustrates, there is a recognition of the need.