Until recently, lawyers were to some degree insulated from market forces. The virtual monopoly law firms had in providing legal services in a buoyant market allowed them to define the reference points of competition. Market dynamics, in particular after the global financial crisis, prised that monopoly open.
The subsequent pressure on clients and the demand to drive down costs and deliver services in a far more efficient way are only some of the well-documented factors that forced lawyers to reappraise what being competitive means.
