⚠️ Commercial Awareness Alert for training contract/vacation scheme applicants⚠️ 1. Commercial News: Reed Smith converts to an Alternative Business Structure (ABS) - 1:07
2. Increased Competition for Law Firms?: Impact of the Legal Services Act 2007 - 3:09
3. Big Four Accountancy Firms: One of the biggest competitors - 5:06
4. "Swiss Verein" Model (firms e.g. Baker McKenzie, DLA Piper, Norton Rose Fulbright, Dentons, Hogan Lovells, Squire Patton Boggs) - 7:39
5. "Best Friends" Network (firms e.g. Slaughter and May, Travers Smith and Macfarlanes) - 10:02
Alternative business structure (ABS), Legal Services Act 2007, the Big Four, Swiss Verein, ‘best friends’ network etc…
if you are not familiar with any of these terms, you have to check out this video. When it comes to commercial awareness, aspiring lawyers are always told to read Financial Times or the Economist. However, many law students neglect the fact that law firm itself is a business.
When I did my master of corporate law degree at Cambridge University, I studied a module called ‘Law Firm as a Business’ and it opened my eyes. By understanding the internal operation and strategies of different law firms, you will easily be able to distinguish one firm from another.
Check out the following news/articles:
1) Reed Smith converts to ABS:
2) Big four accountants 'quietly' threatening mid-tier law firms
3) EY Acquires Riverview Law: A Different Perspective
4) Globalised law and best friends networks
// S U B S C R I B E.
New Videos Every Wednesday or Thursday!
// F O L L O W.
Instagram | gordonchung
LinkedIn | Gordon Chung
Facebook | Gordon Chung
0 Comments