Sydney, Australia – Australian law firms stand at a critical “fork in the road” where they face key – and risky – decisions that will determine their paths moving forward.
A new report issued by Thomson Reuters Peer Monitor and Melbourne Law School, “2017 Australia: State of the Legal Market”, says that despite improvements in the large law firm market, firms must make “big strategic decisions” on how to deploy technology to ensure their best opportunity for future growth.
The report is based on financial data drawn from the Australian offices of 18 major law firms, with analysis undertaken by Thomson Reuters Peer Monitor.
The market for large law firm services may have turned a corner in FY 2017. After four consecutive years of declining demand, the market returned to positive growth, albeit a mere 0.1%. Overall, the market showed growth in four key metrics: demand, worked rates, fees worked and utilisation – although none was greater than 1%. However, after contracting for most of the last decade, even this modest success may mark an important inflection point.
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Sydney, Australia – Page Seager, a leading commercial law firm has partnered with Thomson Reuters Legal to leverage Thomson Reuters Contract Express software to power Page Seager’s newly-launched Page Create service. Page Create is Australia’s first publicly-available technology platform to deliver free legal documents online via Contract Express.
Page Create lets businesses prepare accurate and high-quality legal documents in minutes. Users simply fill out an online questionnaire and the legal document they need is generated automatically by Page Create. The Page Create website (www.pagecreate.com.au) provides a selection of legal documents to users for free.
Contract Express is used by law firms throughout Australia and New Zealand to simplify the process of creating legal documents. The software lets firms create their own templates, which are then modified according to the answers to an online questionnaire. The result is a tailored version of the document that meets the client’s unique requirements.
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