As the global financial economy approaches meltdown point and long established UK law firms enter uncharted waters in terms of the financial knock-on effect, drastic action is required in the legal profession in order for some law firms to survive. Commentators have long spoke of the need for managing partners and CEO's of law firms to consider market consolidation and some are now either looking at ways to either restructure their firms or merge with another in order to align themselves for the challenging times ahead.
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