There is no question that the worst recession for 80 years has had a major impact on the legal sector. General counsel are under pressure to deliver more for less. In turn, they are demanding reduced costs and greater value from their legal advisers. They demand accountability when it comes to how their budgets are being spent and more imagination when it comes to fee structures.

For law firms this has meant facing up to challenge and change. Whilst some are holding fast, hoping that the boom times will return soon, the smarter ones are adapting for the longer term.

In this video interview, Eversheds chief executive Bryan Hughes and Legal Week editor-in-chief John Malpas discuss the results of a recent survey of the legal profession which highlights a shift in the traditional balance of power between major law firms and general counsel.

This report shows that the legal landscape has changed permanently and more quickly than anyone could have imagined. Even before the credit crunch, it was clear that business people were disillusioned with ever increasing fees, wasteful practices and an unwillingness to change. Harsh economic times have pointedly polarised these issues.

While little good has come out of this recession, the much needed reality check for lawyers is, perhaps, one positive by-product. Is the time ripe for a revolution in the delivery of legal services? This report suggests, that the revolution has now arrived.