Lawyers tend to see themselves as sharply different from consultants — as masters of the long, legal document rather than the PowerPoint presentation. But, now, the two professions are encroaching on each other’s territory with increasing vigour.
“They’re stealing our lunch . . . but we’re stealing their dinner,” claims one partner at a City of London law firm.
As businesses expand their legal and compliance departments, lawyers and consultants alike are identifying new kinds of demand from clients. These range from business advice arising from legal problems to help with humdrum projects such as regular midsized mergers and acquisitions, and managing thousands of commercial contracts.