The core of Bower's presentation focused on the potential forces at work on the practice of law for the next five to10 years. Five Primary Forces in the Future Practice of Law 1. In a buyers' market, the customer drives decisions, sets terms and strategies, and evaluates costs. This is a permanent shift that means reduced profitability. Marketing and overhead costs are increasing faster than revenues.
Many firms already know they are in trouble and are shopping for merger possibilities.
The mystique of law practice is gone. Fee scales will float and become much more market driven. There will be a demand for more free speech in advertising. There will be the inevitable erosion of the independence of lawyers. The WTO is already asserting its authority over many professions.