The change is predicted by a number of consultants involved in the Law2023 initiative. Timothy B Corcoran of Corcoran Consulting Group said: ‘And the delivery of legal services will benefit, as firms will focus on approaches that are proven to have a greater likelihood of success than throwing a lot of smart, experienced bodies at each client issue, and treating each issue as if it’s new and unique.’

R&D teams - located separately

Some firms will locate their R&D teams away from the main body of the firm, says Mr Corcoran, as a way of keeping them fresh and distanced from traditional approaches. This is expected to result in a regular stream of innovative products and services in some firms. 

A&O in the vanguard

Allen & Overy is one firm that stands out for its regular analyses and reports, some of them far closer to standard market research than what one would traditionally expect from a legal practice. Most large firms have made efforts to showcase strong industry specialisations in recent years. Sources: JD Supra and Global Legal Post