Brexit: expecting a bonfire of regulation?

What will the vote to leave the EU mean for law firm compliance? We consider the implications for data protection, financial crime prevention, cyber-security, tax evasion and the SRA’s proposed programme of radical reform. Our conclusion is this: anyone expecting a bonfire of regulation is in for a disappointment. The UK has voted to leave the European Union by 52% to 48%, with a turnout of ... Read more

Are you ready for continuing competence?

From 1 November 2016, all solicitors and law firms will need to move across to the new continuing competence regime, which the Solicitors Regulation Authority (SRA) has brought in to replace the previous continuing professional development (CPD) scheme which has been operating since 1985. Under continuing competence practitioners will no longer need to count up the number of hours that they ... Read more

Legalex: views on the future of the legal profession

LexisNexis interviewed attendees at Legalex 2016, one of the largest UK national conferences dedicated to the business behind the law. This was a great opportunity to listen to thoughts from the market. We asked them three questions: what were the main challenges for the legal profession in 2016; if they had a magic wand what would they change; and what one word would they use to ... Read more

Bellwether Report 2016: key findings

We’ve launched the Bellwether Report 2016: The Riddle of Perception at Legalex, one of the largest UK national conferences dedicated to the business behind the law. Here are some of the key findings from the report. Get your copy of the Bellwether Report 2016: The Riddle of Perception here on the Business of Law Blog. You’ll receive a free copy of the research, along with a series of ... Read more

Will lawyers ever really understand what their clients want?

I have been thinking a lot about why law firms seem to struggle with Client Service. The 'LexisNexis Bellwether Report 2015' highlighted the gap in perceptions: 80% of lawyers think they’re good at client service whilst only 40% of clients feel that they get good service from their lawyers. When I talk to lawyers about what makes good client service I often get the strong impression that many ... Read more

Keeping Up, Smartly

Mike Willis_For Blog

A paper released by LexisNexis, “The Art of Keeping Up” follows up its 2015 Bellwether survey Report, “The Age of the Client” – to effect that modern clients are more informed, choosy and demanding, and legal businesses have to be increasingly smart and entrepreneurial to survive – and highlights myopia or even complacency towards these trends among law firms. Apparently, some 80% of lawyers think ... Read more

What does “embracing change” really mean?

Our latest sub-report, "The Art of Keeping Up" reveals lawyers’ attitudes towards change against the backdrop of a shifting balance of power between the lawyer and client – where the well informed ‘customer’ is strongly challenging the traditional working practices of legal professionals. Whilst the statistics suggest that firms are working hard to appease the client – by developing a client ... Read more

Limiting liability after 1 October 2015: what do you need to know?

It makes good business sense to seek to limit the extent of your liability to clients. If you act for consumer clients, from today (1 October 2015) things are a little more ‘interesting’ as they will have the protection of the Consumer Rights Act 2015 (CRA 2015). CRA 2015 doesn’t use the expression 'limiting liability' but it does talk about 'excluding' or 'restricting' liability and/or the ... Read more

9 Common Merger Pitfalls

This article was first published on Lexis®PSL on 14th August 2015, click here for a free trial to LexisPSL. The views expressed by our Legal Analysis interviewees are not necessarily those of the proprietor. Practice Management analysis: Law firm mergers have become increasingly common in recent years. Peter Scott, principal of Peter Scott Consulting and former manager partner of Eversheds’ ... Read more

Do you have a client relationship management strategy?

The legal sector is upbeat and from talking to people, there is a definite sense amongst lawyers that it’s all getting better. This is evidenced in The Bellwether Report 2015: The Age of the Client too – it highlights that practice performance is showing encouraging signs of growth. 63 per cent of firms say performance in increasing and two-thirds of lawyers anticipate growth over the next five ... Read more