Search

The article comments that the legal services white paper should prompt chambers to develop into modern business. Some fascinating doors for barristers will be opened by the British Government's white paper on the future of legal services. To start modernizing, recruitment might be an appropriate place. Although many chambers are offering jobs for life, there are few chambers that devote significant time to the selection of pupils. Within chambers, efficient management would also be an area of improvement that might be highlighted by these new proposals.

The author examines the opportunities for British law firms once the European Union referendum is over the British Ministry of Justice will publish a paper considering the separation of the representative and regulatory functions of the various legal professional bodies. He mentions that opportunity can be used by The Law Society and the Solicitors Regulation Authority (SRA) to clearly define and articulate their roles.

The article focuses on the evolution of the acquisition finance market, with the private equity houses enforcing their own term sheets on the banks in Great Britain. The sponsor finance work of law firms is more lucrative since the fees of the companies being instructed by the banks at the commitment paper stage are now being reimbursed.

The article focuses on the removal of the obstacles to firms floating upon the passage of the white paper proposals on law firm ownership in Great Britain. The sale of minority stocks to a venture capital firm might become an attractive proposal for companies in need of capital. Some of them have been converted to limited-liability partnership status.

The article presents an interview with John Evans, head of employment law, in law firm Coudert Brothers. In response to a question regarding his experiences as trainee, Evans says that Being sent unbriefed and without papers to court to represent a commercial client on a driving offence, with no idea of procedure or what he was meant to do.

The article provides a ten-point checklist to ensure lawyers go into a client pitch armed to the teeth. One is a strategy paper that puts forward the business case for a major acquisition. Success depends on the ability to focus on the totality of the client's agenda. High up that agenda is a rigorous approach to procurement and costs, of which lawyers need to have a clear understanding. Clients are applying this rigor in their own organizations. Their own customers or clients are unwilling to accept any increase in what they pay for goods and services. Every budget holder has to demonstrate that the money they spend delivers best value to the business. It is perfectly legitimate for clients to apply the same rigor to the purchase of professional services that they bring to paying for facilities management or office supplies.