denotes premium content | Jul 4 2008 Managing Partner archive
Volume 8 Issue 7
Editor’s foreword
So ends another year at Managing Partner magazine. In many ways, 2005 has seemed a quiet time for the legal profession. The ‘2005 Financial Management in Law Firms’ survey by PricewaterhouseCoopers is largely positive, revealing higher profits per partner in many firms since 2004. Strong figures, however, are balanced against the fact that many top-25 firms reduced their number of equity partners in 2005, and have kept close control of general staff numbers since reductions in 2004. But with the survey suggesting that many firms are optimistic for 2006, it may very well be next year that we see the more dramatic figures hitting the headlines.
While there have been no financial shocks, good or bad, over 2005, other areas have also seemed relatively static. This month’s ‘Technology year in review’ (page 21), refers to a legal technology market that has lost its spark, while sweeping business change promised by the Clementi Review still seems a long way from fruition.
Quiet though the year has seemed, though, appearances can be deceptive. Smaller law firms at the consumer end of the market are most threatened by Clementi and the recent government white paper, ‘The Future of Legal Services’. But a number have spent recent times gearing up for change on a grand scale.
Withy King Solicitors is a particular example of a firm that is little prepared to take a ‘wait and see’ approach (case study, page 18). In recognising the shifts in the legal profession, the firm has moved to position itself as a professional-services business, rather than just a firm of solicitors. This has led to the creation of four separately branded businesses: Withy King Solicitors, a full-service firm; Complete, shop-front locations for services such as wills and conveyancing; Accrue, investment-management and stock-broking retail services; and Flamesoft, a provider of network-integration services, web design, software products and business-improvement consultancy. Such a broad business proposition puts the firm on good ground for success in the changing times ahead, and positions it more firmly within the Clementi goals of better meeting consumer needs. Other firms in the same market would do well take any ‘quiet’ time to review whether their own business models are sufficiently resilient for the market changes ahead.
Similarly, in the technology market, Kieran Flatt argues that much has been happening beneath the seemingly still waters. Matter-centricity has taken centre stage in 2005, with firms no longer just talking about it, but implementing the technology; and there are signs there will be significant matter-centric success stories early next year. Knowledge-management technologies also seem to be emerging from the doldrums, while firms are developing the functionality of client-relationship-management systems and seeing real improvements. It is likely that 2006 will be a year of further innovation and development in a market that is far from stagnant.
Managing Partner magazine has also continued its steady progress over 2005, further broadening its readership and refining its content to the latest trends in the market. But, in parallel with the legal profession, there have also been plenty of exciting developments behind the scenes, with Ark Group becoming part of Wilmington Group in November 2005. This will undoubtedly provide the magazine with new avenues for development and growth into 2006.
Before Managing Partner and the legal profession looks to year ahead, however, I would like to take this opportunity to thank you for your support of the magazine over the past year, and to wish you all a very happy and prosperous new year.
Caroline Poynton
Editor
Features
Cross-border spin-offs – Canadian tax implications
Many Canadian corporations are multinational and deal with numerous cross-border transactions. Adrienne F. Oliver of Ogilvy Renault LLP particularly focuses on cross-border spin-offs and their implications to shareholders.
Lighting the way?
Paul H. Harricks of Gowlings assesses recent developments in the Canadian electricity sector, where the provinces bear the weight of responsibility for electricity provision.
Taming the internet
As the internet becomes central to business life across the globe, Amy-Lynne Williams and Jason Young of Deeth Williams Wall examine the legal issues surrounding its use in Canada.
IP overview 2005
Marijo Coates and Hung Nguyen of Deeth Williams Wall assess important changes in Canadian intellectual property law, with a particular focus on how developments fit into the multinational arena.
To merge or not to merge?
Government approval of bank mergers in Canada continues to elude merger proponents, despite recent hopes for change. By James R. Christie and Ian J. Binnie of Blake, Cassels & Graydon LLP.
Canada country focus: Putting partnership first
It may be early days for the public-private-partnership model in Canada, but it is likely to expand and mature in coming years, creating a wealth of opportunities for Canadian and foreign companies. By Mark Bain and Tara Mackay of Bennett Jones LLP.
Canada country focus: Fighting fraud across borders
In a fast-moving multinational business environment, combating cross-border fraud has become a key challenge. Jim Patterson, Lincoln Caylor and Maureen Ward of Bennett Jones LLP investigate developments in Canada in fighting cross-border fraud
Competition and change: The Canadian legal landscape
In keeping with a competitive international market for legal services, law firms in Canada are fighting hard for coveted places in the top tier. Sandy Rubin reports.
Country report: Canada
It is with great pleasure that I am able to introduce to you a new feature of Managing Partner magazine: our international-focus country reports. We would also like to welcome Anna Head, who joins the Managing Partner team from In Brief, and will head up the country reports into 2006.
Merger strategies: A marriage made in heaven?
The nebulous quality of culture in merger discussion can mean it is all too easily overlooked. But leaving cultural compatibility to a later date is a recipe for disaster. By David Lewis, regional managing partner, Weightmans
Case study: Liberating the legal business model
Many smaller law firms are facing tough times ahead as a recent government white paper promises further changes in the legal landscape. But Withy King Solicitors has implemented an innovative customer-focused business model that puts it ahead of the game in embracing the changes ahead. By Martin Powell, managing partner, Withy King
Trend tracker: The technology year in review
The legal-technology market continues to develop apace, with several key developments in 2005 suggesting interesting times ahead. By Keiran Flatt, freelance journalist
Case study: Tech Trends in Practice
Large law firms face several key technology challenges in 2006, but Allen & Overy is keen to lead the way with a broad focus including compliance, mobility, e-business and matter centricity. By Dave Burwell, chief information officer at Allen & Overy LLP
Case study: Portal culture
How to connect to your audience if you really want to deliver the full potential of your portal. By Jane McKay, PricewaterhouseCoopers
Masterclass: Road map to a sales culture
In the second installment of a two-part article on boosting the top line, the focus shifts from behaviour change to seven practical steps firms can take to build profit from sales. By Andrew Bass and Paul Clusker
Regulars
Thought leader
As Tim Foster, UK managing partner of Reed Smith LLP, joins Managing Partner’s editorial board, Caroline Poynton asks him about his evolving role in the London office.
Opinion: Putting people at the heart of successful mergers
It is difficult to make a merger work and the hours it consumes are unforgiving, so why does this masochistic trend look set to continue in the legal world? By Colin White, managing director, Ortus Research
