The litigation industry continues to grow and thrive, including change and expansion outside the US.
Background – Slater & Gordon is an entrepreneurial plaintiff’s firm from Australia. It was the first law firm to do an IPO, and it used the proceeds to acquire plaintiff’s firms all across Australia. More recently, it began acquiring UK law firms, with some of them focused on asbestos litigation.
Current news: Slater & Gordon UK (impressive website) recently reported strong profits from its UK ventures. Lawyers’ Weekly has an article with details, including Slater’s view that it has captured 5% of the UK claiming market. Slater also does commercial litigation.
“What will the global litigation industry look like in 10 years? My bet is that it will look increasingly entrepreneurial, and more like the litigation industry as it presently exists outside the US.”
Another thought? The larger capital base of larger plaintiff’s firms allows them to better take on financial barriers the UK insurance industry continues to try to create.