Consultants who prowl the corridors of Midsize law firms have been offering gloomy advice for years. “Merge, grow, or die,” they say, as though there are only three alternatives for any business in this market that wishes to prepare for the future. The gloom has sharpened since the Great Recession.  Some pundits are now predicting that by 2035—in roughly 15 years—more than half of the traditional law firms in the Midsize market will no longer exist. Despite such pronouncements, however, the Midsize segment had its best year in a decade in 2018. 

That one good year notwithstanding, many Midsize firms are feeling the pressure. While Big Law firms crow about their commitment to innovation, most Midsize firms are still trying to figure out where they fit in the new legal landscape that is taking shape. Some have embraced the “merge, grow, or die” dictum, and are busy trying to expand in some manner. Many others are still studying the problem and taking the first tentative steps—appointing committees, for example, or designating partners to lead their efforts. The key descriptor for much of this activity seems to be innovation—hence, we see the multiplication of innovation committees, innovation partners, innovation initiatives, etc.

Horizon Scanning: Modernizing Legal Service Delivery takes a look at the ways in which the delivery of legal services might change in the foreseeable future, bringing together the advice of leading industry practitioners and consultants who scan the legal horizon for indicators of change, offering their predictions, and sharing experience and practical guidance to help law firm leaders prepare for what is coming up next.

The Limited Liability Company under German Law, published in association with German Law Publishers, explores the most relevant legal issues and topics for investors seeking to establish or acquire a GmbH in Germany and is aimed at investors with a legal background as well as those without. In addition to providing an overview of the requirements of the formation process, this comprehensive edition demonstrates the GmbH’s inherent flexibility as well as helping legal practitioners (based in Germany and elsewhere) decide on whether a GmbH is most suitable for their needs. 

In an increasingly competitive landscape and with challenges from disrupters, the Big 4 and technology, business development has a pivotal role in a law firms’ strategic success and their ability to stand out from the crowd. 

The second edition of Business Development: A Practical Handbook for Lawyers, edited by Stephen Revell from Freshfields, revisits the theory, tools and skills needed to implement effective business development in law firms today. Content covers the practical elements – such as what the perfect pitch looks like – as well as the strategic elements, including the variety of structures and approaches to business development at law firms of all sizes.

Merger and acquisition (M&A) transactions have increased dramatically both in number and volume around the world in the last decades. Fully updated, this new edition features leading experts in the field of international arbitration who provide legal and practical guidance on the key types of dispute likely to arise from M&A transactions (eg, warranty claims, shareholder disputes, claims relating to completion accounts), and offer procedural and tactical tips for arbitration arising from them.

In-house legal teams are under more pressure than ever to add value to their organisations. This Special Report combines the rigour of Harvard research with a pragmatic focus based on input from hundreds of General Counsels, in-house lawyers, CEOs and board members to show why and how legal teams work across silos – what we call ‘Smart Collaboration.’ It includes the business case, practical tips, case studies and tools to help legal teams master the four essential ‘vectors’ of collaboration. 

This Special Report explores the central themes arising from the low carbon energy transition and explains why the challenges faced in delivering Net Zero should not be underestimated. It sets out how the road to Net Zero will involve a repurposing of not only our energy system but also our own behaviour. Written with both the lawyer and non-lawyer in mind, this report will appeal to those with an interest in the energy sector as well as those who are enthusiastic about the implications of the radical Net Zero ambition on the energy system as a whole.

Recent years have witnessed growing concern internationally in wellbeing and mental health across the legal community, a shift reflected in a host of initiatives, networks, reports and research studies. Changes to working patterns, generational shifts, and an increased interest in overall wellbeing have contributed to a growing movement towards better working practices - across all industries but particularly in high pressure professions such as law.

Many professionals, especially those who own all or part of their firm, find it difficult to think about retirement. Partner Retirement in Law Firms is designed to help reduce procrastination and encourage proactive retirement planning. In this new Special Report, expert contributors provide tips and guidance for navigating the difficult aspects of retirement in the broad context of career planning. 

Setting up a family office is never an easy undertaking and can present numerous challenges for anyone seeking to steward assets for future generations or meet the complex needs of extended family members. This Special Report provides a practical guide to the main factors to consider when setting up a family office and helps families and their advisers navigate a path through the wide range of family office models in use today.