Page 17 - Lawyers and Accountants - The Future of Professional Services -1
P. 17
Lawyers and Accountants 2020 - 2024
It is unlikely that any one firm can ever reach this number of unique users.54 This means that marketing
revenue must be spent to differentiate one firm from another. Given the number of law firms in the same
space only further increases the costs.
Section summary, the principal reason why Biglaw has nothing to fear in the medium term is because they
have offices in the same markets as their competition which cumulatively are much larger that the Big Four
who have focused on the smaller jurisdictions to expand. This means that adding more lawyers to these
markets has a small or no effect on the competitive environment.
The separation within the legal and accounting media means that the Big Four are not yet “formally”
recognized as part of the legal profession.55 Formal integration and recognition will require a considerable
amount of time and resources on their part, which is to Biglaw’s present advantage.
54 Similarweb.com Collected May 28, 2018
55 See discussion at Section III, infra.
14
It is unlikely that any one firm can ever reach this number of unique users.54 This means that marketing
revenue must be spent to differentiate one firm from another. Given the number of law firms in the same
space only further increases the costs.
Section summary, the principal reason why Biglaw has nothing to fear in the medium term is because they
have offices in the same markets as their competition which cumulatively are much larger that the Big Four
who have focused on the smaller jurisdictions to expand. This means that adding more lawyers to these
markets has a small or no effect on the competitive environment.
The separation within the legal and accounting media means that the Big Four are not yet “formally”
recognized as part of the legal profession.55 Formal integration and recognition will require a considerable
amount of time and resources on their part, which is to Biglaw’s present advantage.
54 Similarweb.com Collected May 28, 2018
55 See discussion at Section III, infra.
14
