Could someone please explain what's meant by the terms B2B and B2C law firms?

[folklor3]

I am researching material for TC applications and I came across these terms in a Law Society report. I understand that they stand for 'Business-to-Business' and 'Business-to-Consumer'.. but what does that actually mean in practice? Could someone very kindly break it down in the simplest terms! Would greatly appreciate it!

 

[Will Jones]

Sure - B2C would be a business that gets hired by individuals (e.g. a no-win/no-fee personal injury law firm) while B2B would be a business that gets hired by other businesses (e.g. Kirkland & Ellis is unlikely to act for individuals and mostly acts for corporates). It's easier to make this distinction for businesses though more than law firms... for example McDonalds sells food to individuals (B2C), while Workday sells HR software to businesses (B2B)

 

[folklor3]

Sure - B2C would be a business that gets hired by individuals (e.g. a no-win/no-fee personal injury law firm) while B2B would be a business that gets hired by other businesses (e.g. Kirkland & Ellis is unlikely to act for individuals and mostly acts for corporates). It's easier to make this distinction for businesses though more than law firms... for example McDonalds sells food to individuals (B2C), while Workday sells HR software to businesses (B2B)

Ah understood! Thanks for such a helpful explanation

 

[danielnesbitt]

B2B is business to business, B2C is business to consumer - equally there are B2B2C companies out there, e.g. Amazon, which acts as a marketplace linking businesses and consumers

 

[miachaniev]

B2B is business to business, B2C is business to consumer - equally there are B2B2C companies out there, e.g. Amazon, which acts as a marketplace linking businesses and consumers

More clearly - B2B means that a business trades with other companies, B2C means that it trades with individual consumers directly