In the B2C legal market place, clients are seeking assistance from non-lawyer professionals. Non-lawyer professionals include paralegal technicians, legal document preparers, legal self-help websites, virtual assistants and offshore legal vendors. These new sources are enabling disadvantaged populations to access legal services at affordable rates to deal with legal issues in their professional and personal lives. Since legal services costs are rising, new legal delivery models are emerging to offer affordable legal services to a large proportion of population.
THE BUSINESS RESEARCH COMPANY VALUED THE GLOBAL B2C LEGAL SERVICES MARKET AT $131 BILLION IN 2017
North America was the largest geographic region in the market, accounting for more than half of the global market. The USA was the largest country accounting for nearly one-third of the global B2C legal services market.
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According to The Business Research Company’s Consultant, Nitin Gianchandani, legal services industry is experiencing a shift in the delivery model for legal services. It involves outsourcing the work of attorneys, paralegals and other legal professionals to companies located either domestically within the country or overseas. Both onshore and offshore outsourcing is transforming legal services to minimize costs and increase their in-house capabilities. For instance, many companies in the US and the UK outsource legal services to countries such as India, the Philippines and South Korea where employees earn 30 to 70% lower wages, thus boosting the profits of legal services companies.
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Baker &McKenzie was the largest player in the B2C legal services market, with revenues of $2.7 billion in 2016. Baker & McKenzie’s growth strategy aims at diversification of the firm to capitalize on growth opportunities across the globe. The firm aims to increase its presence in the Asia Pacific and EMEA regions.
The B2C legal services market comprises establishments offering practices deal with the body of law that governs the disputes between individuals.
B2C Legal Services Global Market Report 2018 is a detailed report giving a unique insight into this market. The report is priced at $4000 for an individual user. To use across your office, the price is $6000 and $8000 if you wish to use across a multinational company.
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