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UK Business Law Market Briefing 2017: A Market Reshaped by Brexit - Research and MarketsResearch and Markets has announced the addition of the "UK Business Law Market Briefing 2017" report to their offering. The UK Business Law Market Briefing is the first edition of an annual Legal Market Briefing and provides an overview of the UK business law market. In addition, to looking at the market as a whole, it looks specifically at: Corporate, financial and company law; Employment law; International Litigation and Dispute Resolution; Intellectual Property, Patents and Trademarks; and Commercial Property. The business legal services market is a large market and constitutes the largest share of the UK Legal Services sector. Despite its size, this market is experiencing fundamental changes in terms of competition, operations and future development. Brexit is just one of the key issues impacting on the market but it is the factor causing the greatest uncertainty regarding the future path of demand. Key Findings Total turnover of business legal services providers reached £24.7 billion in 2015. While turnover grew rapidly in 2015, growth slowe in 2016. The two main segments of the UK business legal market for solicitors and barristers are corporate/ commercial law and dispute resolution/litigation. There is a growing competitive threat to traditional business legal services providers from client's own in-house legal teams, with competition from in-house legal departments increasing particularly sharply in the SME segment of the market over the past year. The market has been and is being reshaped by: - Brexit - Increased pressure to offer more fixed-price work - Increased pressure to make prices more transparent - The growth in third-party funding - The increasing use of digital technology in the courts and within legal practices - Moves to limit the number of cases going to court - The development ABS (News - Alert) practices from companies outside of the legal market especially by accountancy firms. In the future, business legal practices will have to become nimbler and more flexible, with cost control a greater priority as fees come under pressure. There are also likely to be more mergers and acquisitions between legal firms. Key Topics Covered: 1. Introduction - Overview of Business Law 2. Executive Summary 3. Market Structure And Trends 4. Recent Developments 5. The Business Law Market 6. The Future 7. Corporate, Financial And Commercial Law 8. Employment Law 9. International Litigation And Dispute Resolution 10. Intellectual Property, Patents And Trademarks 11. Commercial Property Law 12. Associations For more information about this report visit http://www.researchandmarkets.com/research/8m7vbp/uk_business_law
View source version on businesswire.com: http://www.businesswire.com/news/home/20170118005680/en/ |
