- Are not high value add advisory activities
- Are relatively inefficient due to lack of skills
- Are probably underinvested in
- Have limited consolidation/centralisation
In short, they could be more effective/efficient and lead to greater revenues. In reality, it is an asset that has zero value placed on it, but only if viewed with a “traditional” perspective.
The fact is that there are now opportunities available to transfer these “hidden assets” into different commercial models (whether sold, turned into a JV, or just operated on a commercial footing). Viewing LPO as an opportunity – whether M&A or just commercialisation – requires a different mindset to that in place in most law firms.
If you are one of the ones who want to realise significant financial gains from being different then you should be exploring the market now, as of early 2013. There are buyers and potential partners who are ready and willing to get you there.
Contact me on [email protected] today.