Abstract

This chapter first discusses the business aspect of law firms. Law firms have the same financial motivations and pressures as any other business. They need money (investment) to set up, and then to survive and grow. Law firms need to make a profit, attract clients, and stay ahead of other law firms. They operate within the legal market, producing a product-legal services-the ‘consumers’ of which are the clients. The chapter considers the different types of law firm operating within this market, who their clients are, and why those clients chose a particular firm. It examines the challenges faced by law firms in both the domestic and international markets.

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