PwC's Entry Into the US Legal Market is Important—Just Not for the Reasons You Think It Is
PricewaterhouseCoopers' decision to open an office in Washington D.C., has attracted significant attention. Some, in the legal press, have called it a “wake-up call” for law firms. Others have said the move is a “game changer” for the U.S. legal market. Make no mistake, PwC's recent move is a big deal—just not for the reasons many think it is.
September 25, 2017 at 03:41 PM
5 minute read
PwC Legal's decision to open a US office, in Washington D.C., has attracted significant attention. Some, in the legal press, have called it a “wake-up call” for law firms. Others have said the move is a “game changer” for the US legal market. Make no mistake, PwC's recent move, is a big deal – just not for the reasons many think it is.
A new office, not a new strategy
In and of itself, the establishment of a new office by PwC Legal in the United States is neither particularly surprising nor is it market altering. As detailed in ALM Intelligence's recent report, Elephants in the Room Part: The Big Four's Expansion Into the Legal Market, the Big Four have been ehttps://www.alm.com/intelligence/solutions-we-provide/business-of-law-solutions/state-of-the-industry-research/elephants-in-the-room-the-big-4s-expansion-in-the-legal-services-market/xpanding rapidly into the legal market over the past decade. They have built legal arms which rival many of the biggest law firms and have penetrated deep into many major practice areas (see Figure 1). All of the details released on PwC's new office suggest this status quo remains in place.
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