Litigation funding looks likely to grow in popularity, as law firms embrace the opportunity to mitigate costs and manage risks. However, some companies may struggle to scale their resources and ensure profitability. Legal outsourcing could be the solution to these problems.
There’s a growing trend of more specialist law firms being favoured within the marketplace, leading to a surge in ‘boutique’ law firms being established in recent years. However, the trend has been more prominent in the UK than in Ireland, where one in five solicitors still work in top-tiered firms. As Irish clients become more discerning around price and expect more flexible delivery of legal services, will the legal sector continue to specialise?
In an age where information is so vital, companies possess huge amounts of personal data, and some individuals are starting to ask for their information back. As a result, data controllers must find cost- and time-effective ways of complying with subject access requests. Some organisations are benefitting from the support of an alternative legal service provider.
Any actor who provides financial services is subject to the scrutiny of the Financial Conduct Authority (FCA), and actively encouraged to conduct investigations of their own affairs when things go wrong. However, there are a few things you need to know about internal compliance investigations. In fact, some organisations choose to outsource legal services for this very task.
The new GDPR is getting plenty of press recently. From 2018, it will be applicable to any company that processes and stores personal data, irrespective of size. However, I think it would be a fair statement to suggest that many organisations are still very much unprepared, and in need of transparent legal services to help with their GDPR preparations.