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When Will Disruption Hit the Legal Industry?

By Hugh A. Simons and Nicholas Bruch
October 02, 2017

Economics tells us an industry that experiences a drop in aggregate demand, adds production capacity, and increases the market overlap among competitors will suffer price erosion and profitability decline. Law firms fit this profile. Yet, in talking with law firm partners, you don't get the sense that any such “disruption” is happening. Perhaps economics has bypassed law? A closer look seems warranted.

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