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International Conference of Legal Regulators The Legal Market: Development and Issues John Flood Professor of Law and Sociology Leverhulme Research Fellow PowerPoint PPT Presentation


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International Conference of Legal Regulators The Legal Market: Development and Issues John Flood Professor of Law and Sociology Leverhulme Research Fellow University of Westminster [email protected] GLOBAL LEGAL MARKET 2010 Size in US$585 billion 2015 Size in US$647 to $752 billion

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International Conference of Legal Regulators The Legal Market: Development and Issues John Flood Professor of Law and Sociology Leverhulme Research Fellow

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International conference of legal regulators the legal market development and issues john flood professor of law and sociology leverhulme research fellow

International Conference of Legal Regulators

The Legal Market: Development and Issues

John Flood

Professor of Law and Sociology

Leverhulme Research Fellow

University of Westminster

[email protected]


International conference of legal regulators the legal market development and issues john flood professor of law and sociology leverhulme research fellow

GLOBAL LEGAL MARKET

2010 Size in US$585 billion

2015 Size in US$647 to $752 billion

2010 Numbers of legal professionals: 3,285,000


International conference of legal regulators the legal market development and issues john flood professor of law and sociology leverhulme research fellow

SECTORAL LEGAL MARKETS

United States

2010 Size in US$240 billion

2015 Size in US$300 billion

2010 Numbers of legal professionals: 1,141,000

{>50% of global legal market}


International conference of legal regulators the legal market development and issues john flood professor of law and sociology leverhulme research fellow

SECTORAL LEGAL MARKETS

European Union

2010 Size in US$195 billion

2015 Size in US$247 billion

2010 Numbers of legal professionals: 1,030,000

----------------------------

United Kingdom

2010 Size in US$40 billion

2015 Size in US$50 billion


International conference of legal regulators the legal market development and issues john flood professor of law and sociology leverhulme research fellow

SECTORAL LEGAL MARKETS

Asia-Pacific

2010 Size in US$69 billion

2015 Size in US$91.5 billion

2010 Numbers of legal professionals: 382,700


International conference of legal regulators the legal market development and issues john flood professor of law and sociology leverhulme research fellow

DRIVERS OF CHANGE IN LEGAL MARKETS

DEMANDS OF SOCIO-POLITICAL

COMPULSION OF GLOBALIZATION

ADDICTION TO TECHNOLOGY

Consequences of regulation


International conference of legal regulators the legal market development and issues john flood professor of law and sociology leverhulme research fellow

  • DEMANDS OF SOCIO-POLITICAL

  • RISE OF ACTIVIST MOVEMENTS, e.g.

  • consumerism

  • environmentalism,

  • equality in disability,

  • ethnicity,

  • Sexuality

  • COMPETITION


International conference of legal regulators the legal market development and issues john flood professor of law and sociology leverhulme research fellow

GLOBALIZATION

Rise of Global Law Firm


International conference of legal regulators the legal market development and issues john flood professor of law and sociology leverhulme research fellow

TECHNOLOGY

ONLINE LEGAL SERVICES

LEGAL ZOOM

EPOQ

ROCKET LAWYER

LEGAL PROCESS OUTSOURCING

PANGEA 3

LEGAL PROCESS INSOURCING

WEST VIRGINIA

BELFAST

ONLINE DISPUTE RESOLUTION

EBAY

EUROPEAN SMALL CLAIMS PROCEDURE


International conference of legal regulators the legal market development and issues john flood professor of law and sociology leverhulme research fellow

REGULATION

LEGAL SERVICES ACT

EXTERNAL REGULATION

ALTERNATIVE BUSINESS STRUCTURES


International conference of legal regulators the legal market development and issues john flood professor of law and sociology leverhulme research fellow

REGULATION

  • Examples of ABS

  • Slater & Gordon—First law firm IPO in Australia buying English law firm for £58m.

  • Coop Legal Services—“Life Planning”: trusts, wills, health insurance, banking and credit, accident management, life insurance, pension planning, probate, funeral

  • BT Claims—“Business2Business” claims management legal company growing out of internal claims handling department of telephone company

  • These are exportable models, reliant on technology, outsourcing, and routinized services


International conference of legal regulators the legal market development and issues john flood professor of law and sociology leverhulme research fellow

REGULATION

  • Examples of Non-Existent ABS

  • Legal Process Outsourcer buys law firms

  • Thomson Reuters becomes world’s biggest legal services provider

  • Big 4 accounting firms go MDP

  • Google buys all law firms


International conference of legal regulators the legal market development and issues john flood professor of law and sociology leverhulme research fellow

REGULATION

  • Are Others Liberalizing and How?

  • Troika (IMF, EU, ECB) forcing debtor countries to liberalize labor markets and professions

  • So far Ireland has started to do this

  • Greece and Portugal will have to undergo this

  • Maybe Spain and Italy next

  • Despite vigorous objections from ABA and CCBE, these reforms will be promoted


International conference of legal regulators the legal market development and issues john flood professor of law and sociology leverhulme research fellow

  • QUESTIONS

  • WHAT IS A LAWYER?

  • WHAT IS A LAW FIRM?

    • (Does it matter?)

  • WHAT ARE LEGAL SERVICES?

  • HOW DO YOU REGULATE LAW FIRMS ACROSS BORDERS?

  • ARE LEGAL ETHICS THE SAME ACROSS BORDERS?

  • WHAT IS THE ROLE OF LEGAL EDUCATION IN NEW LEGAL SERVICES?

  • WILL ECONOMIC CRISIS FORCE MORE COUNTRIES INTO INVOLUNTARY CHANGE IN THEIR LEGAL MARKETS?


International conference of legal regulators the legal market development and issues john flood professor of law and sociology leverhulme research fellow

LINKS

THIS PRESENTATION IS LOCATED AT http://johnflood.blogspot.com

AND AT http://www.scribd.com/doc/106933559/Flood-International-Legal-Regulators-Conference-Presentation-Legal-Market-Developments

YOU CAN FIND MORE INFORMATION AT http://www.johnflood.com


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