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Global commercial law market worth US$300 billion
Sir Nigel Knowles, global co-chief executive of DLA Piper, estimates that the commercial legal services market is worth about US$ 300 billion and is 15 per cent over-supplied by lawyers.
Corporates demand more value from law firms IQoncept
Speaking at the Yorkshire Post Business Club, he also predicted a continuing rise in the influence of procurement teams on legal services. He said: 'They all want more for less or they want more for nothing, which is called investing in the relationship or partnering.' He also predicted that the Magic Circle firms would become smaller in size and focus more on work related to investment banks.
