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The Most Saturated Legal Market in the World
Executive Summary of an article written by
Tamar Sacerdoti, Robus Consulting & Legal Marketing
One of the most prominent characteristics of the Israeli legal market is the sheer number of attorneys, one for every 160 people, making it the most saturated legal market per capita in the world. Since a legislation change in 2012 allowing international law firms and attorneys to register their services in Israel, over 90 law firms are active within the Israeli legal market today, adding a congested international layer to the market. Competition has opened the market to new boutique law firms, and the number of law firms has decreased legal fees.
The Israeli legal market is increasingly using outsourcing as an effective solution to the market’s new challenges. Those outsourced find themselves unemployed or working for small wages in comparison with large law firms. Legal outsourcing provides these attorneys desperately needed supplementary income. On the other hand, those doing the outsourcing — law firms and general counsel at local and international corporations — find it a cheap, quick and effective tool for ad hoc projects they do not have the capacity to handle.
Due to the start-up atmosphere of the Israeli market, numerous disrupting technologies have been created that provide solutions for any size law firm or in-house counsel. In comparison to the United States and UK markets, Israeli legal teams have taken more time to implement legal technology into their daily routine. The uniqueness of the Israeli legal market has provided new opportunities for local and international businesses.Read the full article at:
Today's General Counsel