The rising influence of general counsel is playing a key role in dramatic changes shaking up the entire legal landscape, according to a new report from the Center for the Study of the Legal Profession at the Georgetown University Law Center.
“The first and perhaps the most obvious change is that the legal market has become much more intensely competitive than it was five years ago . . . [And] the market for legal services has
shifted from a sellers’ to a buyers’ market, a shift that has serious long-term implications,” according to the “2014 Report on the State of the Legal Market” [PDF].
The report was presented by the Center and Thomson Reuters Peer Monitor, a benchmarking program.
Law professor Milton (Mitt) Regan Jr., co-director of the legal profession center, told CorpCounsel.com that the evolving role of the general counsel has impacted the entire profession.
