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Under pressure to develop deep expertise as a way to differentiate themselves in a crowded legal arena, many lawyers have focused more and more on a narrow aspect of the law – data privacy for financial institutions in the EU, say, or public-private partnerships in the transportation sector. Like law firms themselves, clients are facing a world that is increasingly volatile, uncertain, complex and ambiguous. Clients need outside counsel that can collaborate to solve their problems, but law firms’ increased specialisation creates an unfortunate conflict, and many are leaving big money on the table as a result.

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