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Only global firms and 'super niche' to prosper, says DLA head
Sir Nigel Knowles, joint global chief of DLA Piper, has predicted that only the 'truly global or super niche' will thrive in a future which looks likely to be changed by market consolidation.
Law firms must go global or niche to success, says Nigel Knowles Kentoh
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Sir Nigel says that the arrival of Alternative Business Structures and other current trends will render obsolete the strategies of many practices. 'It is difficult to see the status quo remaining,' he wrote in an article for The London Evening Standard. He wrote: 'Commercial law is a $300bn global industry – no one firm has more than one per cent of the market share and this has to change. The sector is still remarkably fragmented; there are simply too many firms (and too many lawyers) in the market offering the same services without any clear differentiation.' Source: Legal Futures
