Lawyers to shrink 25 per cent by 2020

Addleshaw Goddard is predicting a 2020 legal market in which there are 20 per cent fewer law firms and 25 per cent fewer lawyers.

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The predictions are made as part of the practice's 'Law Rethought' programme in which the firm seeks to work out what will happen in future and put itself in the lead. It also expects that fixed-price, annual fees and product prices will replace hourly billings. Legal Futures reveals that Addleshaws will soon launch its 'flexible resource pool', a staging post on the way to fulfilling future demand, in which 'a group of freelance lawyers..can advise clients on lower-level work at a cheaper price than the main firm'.

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