Comment, Opinion & Guest Articles Latest News

Comment: Law firms think they can’t be substituted. New entrants are delighted!

Over 30 years ago Harvard Business School’s Michael Porter wrote his first and most famous book on Competitive Strategy. Knowledge of what a substitute is and why the economics of its business model are so dangerous are no longer curiosities for those studying at business school. But law firms still do not realise the magnitude of the threat posed by substitutes.