Page 13 - Legal and Accounting Markets 1985 -2022
P. 13
Global Law and Accounting Practices and Markets
This would be similar to the Big Four
legal where each firm is independent so
profits will vary depending on the
country.
Brand
The Big Four are already consolidated
organizations at the top of their market
development. The largest law firms
cannot achieve this without substantial
consolidation of their markets. Is a
20,000-person firm possible? Yes, a
verein could grow to this size, but even
then, it would be smaller than the
largest legal networks.48
Operations
The Big Four can offer integrated services beyond
law that go to management of the entire project.
This is a true one stop shop which in essence the
exact purpose of the multidisciplinary practice
model. This is illustrated by EY – OME Law. 50
The alternative is for law firms to create a joint
venture with ALSPs. Given the large number of
law firms and the limited number of ALSPs, this is
not a practical solution.
Both professions can do the same thing. Law firms
are branching into this level of cooperation by
bringing in ALSPs.51 The Big Four are doing the
same thing with law.52
48 Steven Martin, 3 Charts Which Illustrate the Future of the Legal Industry, FRESH MINDS (April 13, 2017), http://www.freshminds.net/2017/04/3-
charts-illustrate-future-legal-industry/.
50 Rutger Lambriex, Operating Model Effectiveness, EY, http://www.ey.com/gl/en/services/tax/law/ey-law-solutions-operating-model-effectiveness.
51 id
52 id
11
This would be similar to the Big Four
legal where each firm is independent so
profits will vary depending on the
country.
Brand
The Big Four are already consolidated
organizations at the top of their market
development. The largest law firms
cannot achieve this without substantial
consolidation of their markets. Is a
20,000-person firm possible? Yes, a
verein could grow to this size, but even
then, it would be smaller than the
largest legal networks.48
Operations
The Big Four can offer integrated services beyond
law that go to management of the entire project.
This is a true one stop shop which in essence the
exact purpose of the multidisciplinary practice
model. This is illustrated by EY – OME Law. 50
The alternative is for law firms to create a joint
venture with ALSPs. Given the large number of
law firms and the limited number of ALSPs, this is
not a practical solution.
Both professions can do the same thing. Law firms
are branching into this level of cooperation by
bringing in ALSPs.51 The Big Four are doing the
same thing with law.52
48 Steven Martin, 3 Charts Which Illustrate the Future of the Legal Industry, FRESH MINDS (April 13, 2017), http://www.freshminds.net/2017/04/3-
charts-illustrate-future-legal-industry/.
50 Rutger Lambriex, Operating Model Effectiveness, EY, http://www.ey.com/gl/en/services/tax/law/ey-law-solutions-operating-model-effectiveness.
51 id
52 id
11
