In response to Bruce MacEwen’s highly stimulating article on the shape and structure of future law firms, in which he argues that the days of the traditional law firm may be numbered, Overture’s strategy director Mark Brandon considers several of the points MacEwen makes and counters them, equally eloquently.
In particular he argues against the ‘more for less’ agenda, suggests that ditching the partnership model in favour of a corporate structure is not the way forward, and claims that the idea that outside ownership automatically confers virtue is laughable.
“You only have to consider that around 75 per cent of M&A fails to deliver shareholder value, or live with the mess of the privatised UK rail network, or the US telecoms industry, to realise that the involvement of private capital is no guarantee of the success of either individual companies or entire industries,” says Brandon. “Most businesses in any sector fail, 80 per cent in the first five years of their existence if one piece of research is to be believed. Law seems to be doing pretty well.”
Like MacEwen’s original, the article has immediately generated a slew of comments, including some (not penned by the author, we understand) that could hardly be more complimentary: “This is the best article I’ve ever read on the Lawyer.com.”
Feel free to join the debate online. If you want to be part of the discussion in person next month, when Adam Smith, Esq’s MacEwen will be chairing the panel on this subject, make sure you sign up for a place the Summit.
For details on how to book your place at The Lawyer Business Leadership Summit, please contact Katrina Ryan on +44(0) 20 7970 4661.
Also on TheLawyer.com:
- Dentons circles Matthew Arnold & Baldwin for third 2015 merger
- Bircham Dyson Bell unveils 18 per cent profit growth for 2014/15
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