Industry Analysis & Industry Trends
The past five years have challenged the Legal Services industry, with the end of the commodities boom taking its toll on industry demand. Over the past five years, fluctuating business confidence has slowed industry revenue growth as businesses have tended to improve operational efficiency rather than expand through mergers. Additionally, price pressures have mounted over the past five years as external competition for commercial legal work, particularly from accounting firms, has risen... purchase to read more
Industry Report - Industry Products Chapter
The industry provides a variety of legal services. Small law firms and sole proprietors tend to specialise in one service segment, as they do not have the scale to offer a wider range of services. The largest service segments are commercial law, personal legal services and property law.
Commercial law services
Commercial law services include the legal advice provided to businesses, much of which relates to major corporate transactions, such as mergers and acquisitions, IPOs, financing methods and taxation solutions. Demand for these services is heavily affected by the business cycle, level of investment, and corporate activity.
Many of the top-tier law firms generate high fees by working on complex specialised deals in commercial areas... purchase to read more