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Aspiring Lawyers - Interviews & Vacation Schemes
Commercial Awareness Discussion
If clients are increasingly unwilling to pay high fees, how else can law firms make money?
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<blockquote data-quote="Ellisha" data-source="post: 42350" data-attributes="member: 8762"><p>I've seen a few variations of this question, e.g.:</p><p>given that London clients are not willing to pay as high fees as Wall Street clients, how can UK firms stay competitive against US firms?</p><p>or </p><p>How can firms survive the proliferation of AI which may render charging high fees for services unjustifiable?</p><p></p><p>I'm honestly a bit stuck. It seems to me like clients are THE primary way for law firms to make money, and if clients increasingly opt for the 'big 4' accounting firms or expect significantly lower prices, aren't law firms in trouble?</p></blockquote><p></p>
[QUOTE="Ellisha, post: 42350, member: 8762"] I've seen a few variations of this question, e.g.: given that London clients are not willing to pay as high fees as Wall Street clients, how can UK firms stay competitive against US firms? or How can firms survive the proliferation of AI which may render charging high fees for services unjustifiable? I'm honestly a bit stuck. It seems to me like clients are THE primary way for law firms to make money, and if clients increasingly opt for the 'big 4' accounting firms or expect significantly lower prices, aren't law firms in trouble? [/QUOTE]
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Aspiring Lawyers - Interviews & Vacation Schemes
Commercial Awareness Discussion
If clients are increasingly unwilling to pay high fees, how else can law firms make money?
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