New opportunities for boutique firms in the modern marketplace

As international law firms have grown in size and influence, boutique firms are emerging to take up ground in niche legal markets. These boutique firms are often better placed to maintain long-term relationships, and they can focus on practice areas that do not need the massive infrastructure of a large firm, enabling them to charge lower fees. Recent changes to the Legal Services Act have given rise to a new creature of the legal services industry. The recently launched MJ Hudson is funded by private equity money and will work with hedge funds. Instead of charging its clients an hourly rate or a flat fee, it will take a cut of their profits. In addition, the firm can further deepen the relationship with clients by investing equity in their funds and transactions.

New opportunities for boutique firms in the modern marketplace cityam.com Wed, Aug 11, 2010