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Conference Recap: Legal Services in Transition – From the Perspective of Businesses and Law Firms
Conference Recap: Legal Services in Transition – From the Perspective of Businesses and Law Firms
Bucerius Law School
Hamburg, Germany
November 21, 2012
How is the legal service market changing and what does it mean for cooperation between businesses and law firms? These were the central questions at the Bucerius Center on the Legal Profession’s second annual fall conference in November. Presentations highlighted the biggest, long-term trends in the legal services market, including the challenges of the newest wave of development in the marketplace, what Markus Hartung characterized as the era of “productivity.”
Highlights:
– Former UBS Chairman Dr. Peter Kurer analyzed the impact of current economic trends on lawyers and law firms, trends which have led to challenges such as declining profitability and equity and the rush to join global law firms. Strong competition has made imaginative marketing and strategic thinking all the more important, Dr. Kurer stressed.
– In his presentation, Dr. Ute Rajathurai, attorney in the procurement department at Bayer AG, gave insight into the diverse, interdisciplinary approach that the legal and procurement departments at Bayer follow when selecting external legal services.
– In his lecture on the “emotional” benefits of legal advice, Professor Georg-Christof Bertsch of Bertsch.Brand Consultants explained that firms now must differentiate from their competitors with innovation, pro-active communication, and an emotional appeal.
– In small discussion groups, the 130 participants questioned the value-added contribution of legal services and the role of LPOs. Talk focused on the erosion of legal services, the resulting impact on make-or-buy company decisions and the involvement of LPO vendors.
– Professor Stephen Mayson of Legal Services Institute in the United Kingdom spoke about the possibilities and threats of alternative business structures for law firms.
The next CLP Fall Conference will be held on November 22nd at the Bucerius Law School in Hamburg.
Birte Gall, CEO Bucerius Executive Education