Managing partners question current business model

Students may need to develop more skills before they are taken on by law firms so that they are not seen as a cost burden by clients, according to managing partners in Australia who appear to be rethinking the law firm model.

Comments made in a recent survey by Eaton Capital Partners suggests that the leaders of law firms are fundamentally rethinking their mode of operation. One said: 'They have become too expensive in a cost sense and not valuable enough in a skill-set sense.' He added: 'Junior lawyers are going to need to develop a different set of skills from the past to find a new way of providing a new service to a law firm.'

Widespread view

Comments from other managing partners suggests a widespread view that clients are dissatisfied with the current model in which they can feel that they are bearing the cost of training students. Source: Lawyers Weekly

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