50 Ways to Leave Your Law Firm

The authors of this article from The Economist. (http://www.economist.com/node/21525907?fsrc=scn/fb/wl/ar/bargainbriefs) describe how some law firms in the United States and Great Britain are becoming more client-centric and offering greater value. If successful, this trend may migrate to other professional services firms.

It seems to be a confluence of modern technologies and the loosening of out-of-date policies that protect  professions from competition. Of course, there are risks from bad lawyers jumping into the marketing mode and exposing their clients to shoddy performance. For a reference point just look back to the time when law firms were allowed to advertise -- we are now flooded with ambulance chasers on every billboard, bus bench and late-night television ad. It feels sleazy. It makes better professionals uncomfortable. And it probably clogs our courts. Is Lionel Hutz listening from the grave?

But this doesn't take away from the classic arguments for free-market competition. Business efficiencies are usually rewarded. And if those improvements come from better technology and less regulation, then there will be a widespread benefit.