The UK's sophisticated economy has many drivers, with the financial and professional services industries as two of its pillars. Its legal sector stands out as world class and is relied upon not just by domestic businesses, but also by companies and individuals the world over.
Some people change the world whilst others live the easy life, going with the grain. The most successful figures revolutionize their sector, their environment, their country. Whether it’s Xavier Niel, Mark Zuckerberg, Steve Jobs, Gandhi or Nelson Mandela, what are the secrets to leadership?
What is the role of a company? Two schools of thought, two rival philosophies, have vied for supremacy for over twenty years now. Is it to put the interests of shareholders above all else, as Nobel prize-winning economist Milton Freedman declared? Or is it, in addition to the shareholders, to serve other stakeholders such as staff, clients, suppliers and beyond?
Now that the storm has passed and the industry has returned to rude health, lawyers' thoughts can turn to redrawing the legal landscape through new technology and globalization. Whether it comes from within France or goes through the Hexagon, this new spirit of conquest touches all aspects, from geographical locations to judicial space and digital automation.
It is the best of times, it is the worst of times. In a world where the only thing that doesn't change is change itself, opportunities and risks are too obvious to ignore, and the legal market is no exception. As a nearly $300 billion industry and one of the most profitable in the world, the U.S. legal industry is under fundamental transformation. Whether in-house counsel or law firms, only those with far-ranging sights, clear thoughts and quick action can survive and thrive.