Practice: the Future of IP and TMT Services
Happy New Year! Every time there is an economic downturn businesses look for ways of saving money on legal services, particularly in intellectual property ( "IP" ) and technology, media and telecommunications ( "TMT" ). The beneficiaries of the last downturn were regional firms such as Addleshaws of Manchester, Eversheds , Pinsents and Wragge's of Birningham , A V Hammond and Last Suddard of Bradford and, above all, Dibb , Lupton , Broomhead of Leeds and Sheffield which grew rapidly because they could provide high quality services for less than City practices. This time clients will want to make much greater savings given the severity and probably duration of this downturn, advances in technology and Part V the Legal Services Act 2007. One of the talking points of several American blogs is "Kill the Billable Hour" by Evan Chesler which appeared in Forbes just before Christmas. It is subtitled "Lawyers should bill the way Joe the Co...