Industry Analysis & Industry Trends
Workers, households and individuals across Australia are exposed to numerous risks. The number of incidents and transactions that occur annually that require the services of a legal practitioner is endless. While a significant contributor to industry revenue is personal injury, other significant components of the industry's services include property law and family law matters. As the demand for legal services from households pertaining to these matters are typically unaffected by economic conditions, industry revenue has not been greatly impacted by the global financial crisis. Over the five years through 2012-13, industry revenue is forecast to grow at a compound annual rate of 3.1%, to reach $3.11 billion in 2012-13. In 2012-13, industry revenue is forecast to grow by 2.0%... purchase to read more
Industry Report - Industry Investment Chapter
The industry's capital intensity is low as the industry is heavily reliant on personal client contact. Furthermore, individuals employed within the industry are highly skilled and qualified professionals that command significant wages. Although investment in technology has risen significantly over the past decade, clients still require customised solutions that are provided by solicitors or barristers. Larger firms have made larger investments in systems and databases that can help them better inform their clients and improve record keeping... purchase to read more