Presentation Transcript

1. International Conference of Legal Regulators The Legal Market: Development and Issues John Flood Professor of Law and Sociology Leverhulme Research Fellow University of Westminster john@johnflood.com
2. GLOBAL LEGAL MARKET 2010 Size in US$585 billion 2015 Size in US$647 to $752 billion 2010 Numbers of legal professionals: 3,285,000
3. SECTORAL LEGAL MARKETS United States 2010 Size in US$240 billion 2015 Size in US$300 billion 2010 Numbers of legal professionals: 1,141,000 {>50% of global legal market}
4. SECTORAL LEGAL MARKETS European Union 2010 Size in US$195 billion 2015 Size in US$247 billion 2010 Numbers of legal professionals: 1,030,000 ---------------------------- United Kingdom 2010 Size in US$40 billion 2015 Size in US$50 billion
5. SECTORAL LEGAL MARKETS Asia-Pacific 2010 Size in US$69 billion 2015 Size in US$91.5 billion 2010 Numbers of legal professionals: 382,700
6. DRIVERS OF CHANGE IN LEGAL MARKETS DEMANDS OF SOCIO-POLITICAL COMPULSION OF GLOBALIZATION ADDICTION TO TECHNOLOGY Consequences of regulation
7. DEMANDS OF SOCIO-POLITICAL RISE OF ACTIVIST MOVEMENTS, e.g. consumerism environmentalism, equality in disability, ethnicity, Sexuality COMPETITION
8. GLOBALIZATION Rise of Global Law Firm
9. TECHNOLOGY ONLINE LEGAL SERVICES LEGAL ZOOM EPOQ ROCKET LAWYER LEGAL PROCESS OUTSOURCING PANGEA 3 LEGAL PROCESS INSOURCING WEST VIRGINIA BELFAST ONLINE DISPUTE RESOLUTION EBAY EUROPEAN SMALL CLAIMS PROCEDURE
10. REGULATION LEGAL SERVICES ACT EXTERNAL REGULATION ALTERNATIVE BUSINESS STRUCTURES
11. REGULATION Examples of ABS Slater & Gordon—First law firm IPO in Australia buying English law firm for £58m. Coop Legal Services—“Life Planning”: trusts, wills, health insurance, banking and credit, accident management, life insurance, pension planning, probate, funeral BT Claims—“Business2Business” claims management legal company growing out of internal claims handling department of telephone company These are exportable models, reliant on technology, outsourcing, and routinized services
12. REGULATION Examples of Non-Existent ABS Legal Process Outsourcer buys law firms Thomson Reuters becomes world’s biggest legal services provider Big 4 accounting firms go MDP Google buys all law firms
13. REGULATION Are Others Liberalizing and How? Troika (IMF, EU, ECB) forcing debtor countries to liberalize labor markets and professions So far Ireland has started to do this Greece and Portugal will have to undergo this Maybe Spain and Italy next Despite vigorous objections from ABA and CCBE, these reforms will be promoted
14. QUESTIONS WHAT IS A LAWYER? WHAT IS A LAW FIRM? (Does it matter?) WHAT ARE LEGAL SERVICES? HOW DO YOU REGULATE LAW FIRMS ACROSS BORDERS? ARE LEGAL ETHICS THE SAME ACROSS BORDERS? WHAT IS THE ROLE OF LEGAL EDUCATION IN NEW LEGAL SERVICES? WILL ECONOMIC CRISIS FORCE MORE COUNTRIES INTO INVOLUNTARY CHANGE IN THEIR LEGAL MARKETS?
15. LINKS THIS PRESENTATION IS LOCATED AT http://johnflood.blogspot.com AND AT http://www.scribd.com/doc/106933559/Flood-International-Legal-Regulators-Conference-Presentation-Legal-Market-Developments YOU CAN FIND MORE INFORMATION AT http://www.johnflood.com