Home advantage – the biggest challenges facing Canada's law firms
Canada's legal services market continues to grow, albeit at a slower pace than in previous years. Lawyers at the country's largest independent firms believe there are three principal factors driving the market: pressure on fees, increased competition and the state of the global economy, especially in regard to commodities prices. Steven Smith, partner in the corporate group and head of the UK and Europe sector at Osler Hoskin & Harcourt, says: "The biggest challenge that law firms are facing in Canada is the pressure on fees from clients who simply want more for their money. Reduction in fee income and pressure on prices is making the market more competitive." Marc-Andre Blanchard, chairman and chief executive of McCarthy Tetrault, comments: "Like other firms, we believe that the legal services market here is very competitive and that the pressure on fees is growing. But we believe that our emphasis on service delivery is helping us retain clients and win new business."
Neil Hodge reports on how Canada’s economic recovery is helping its legal profession flex its muscles
This premium content is reserved for
Legal Week Subscribers.
Subscribe today and get 10% off.
A PREMIUM SUBSCRIPTION PROVIDES:
- Trusted insight, news and analysis from the UK and across the globe
- Connections to senior business lawyers within the leading law firms and legal departments
- Unique access to ALM's unrivalled, market-leading reporting in the US and Asia and cutting-edge research, including Legal Week's UK Top 50 and Global 100 rankings
- The Legal Week Daily News Alert, Editor's Highlights, and Breaking News digital newsletters and more, plus a choice of over 70 ALM newsletters
- Optimized access on all of your devices: desktop, tablet and mobile
- Complete access to the site's full archive of more than 56,000 articles
Already have an account? Sign In Now
For enterprise-wide or corporate enquiries, please contact Paul Reeves on Preeves@alm.com or call on +44 (0) 203 875 0651