Using a unique data set comprised of original research of both the corporate websites of the Big Four — PwC, Deloitte, KPMG, and EY — and their affiliated law firms, as well as archival material from the legal and accountancy press, this article documents the rise and transformation of the Big Four legal service lines…
The Women and Men of Harvard Law School: Preliminary Results from the HLS Career Study
The Preliminary Report presents the results of the Harvard Law School Career Study (HLSCS), conducted by the school’s Center on the Legal Profession (CLP). Begun with a generous grant from a group of women alumnae in connection with the 55th celebration of the graduation of the school’s first female students in 1953, the study seeks…
The Leadership Imperative: A Collaborative Approach to Professional Development in the Global Age of More for Less
Notwithstanding the increasing importance of technology, the practice of corporate law is — and is likely to remain for the foreseeable future — a human capital business. As a result, law firms must continue to attract, develop, and retain talented lawyers. Unfortunately, the traditional approach, which divides responsibility for professional development among law schools, which…
Risk Regulation for the Legal Profession
Winds of change are blowing over the legal profession. Yet, compared to other professions and industries, legal services regulation remains very much a laggard. For the most part, legal services regulation remains rigid, reactive and complaint-based. These are not characteristics that are considered regulatory best practices. Recognizing this, a number of law societies are contemplating…
Lawyers as Professionals and as Citizens: Key Roles and Responsibilities in the 21st Century
This essay, published by the Center on the Legal Profession at Harvard Law School, presents a practical vision of the responsibilities of lawyers as both professionals and as citizens at the beginning of the 21st century. Specifically, it seeks to define and give content to four ethical responsibilities that the authors believe are of signal…
What We Know and Need to Know About Global Lawyer Regulation
This article is one of a series addressing the American Bar Association’s Commission on the Future of Legal Services, and is intended to provide a foundation for policymakers interested in global lawyer regulation. Rather than suggest the best approach to regulating global lawyering and lawyers, however, the article instead takes aim at developing a wish-list…
Focus on…cyber attacks
Cybercrime is now considered one of the leading risks to the global economy. Data is the world’s new natural resource. It is the new basis of competitive advantage, and it is transforming every profession and industry. Despite the lessons of the so-called ‘Panama Papers’ scandal of 2016, law firms continue to be soft targets for…
A review of the SRA’s ‘Trust and the Market’ Conference
On 22 June, the SRA hosted “Trust and the market: Building confidence”. The conference attracted more than 142 participants, reaching beyond the legal profession to regulators of other professions, government bodies, think tanks, parliamentarians and academics. SRA Chief Executive Paul Philip talked about the balance to be struck between building confidence and public protection, and…
Focus on… ABS investment activity
A major aim of the introduction of alternative business structures (ABS) in England and Wales was to allow new forms of capital into regulated law firms to improve market efficiency. Enabling external investment in law firms was designed to allow less reliance on short term sources of financing such as personal debt and overdrafts. The…
ICLR 2017 – Panel: “Protecting the Vulnerable”
A synopsis of panel session 7, which takes place on 6 October at ICLR Singapore, kindly provided by the session’s moderator, Lim Tanguy – Chief Executive Officer, Law Society Pro Bono Services Limited. Conference materials will be made available to ICLR.net members after the conference. This panel discussion will hear from regulators on the work that…