The CLSB has published its final report from its project funded by the Regulators’ Pioneer Fund: How could Costs Lawyers reduce the costs of legal services?
The project, guided by the CLSB’s framework for good consumer outcomes and the Competition and Markets Authority’s findings in its Market Study on legal services, looked at how regulation or legislation might help or hinder the emergence of innovative services provided by advisors specialising in legal costs.
Key findings from the project include that:
- large corporate buyers of legal services feel that legal costs are out of control;
- the Costs Lawyer profession has the potential to have a much bigger impact on legal costs than it does today;
- strengthening the position of Costs Lawyers as independent actors in the sector, outside of employment in solicitors’ firms, has the potential to harness numerous benefits;
- there may be benefits in a stronger distinction between the interests of instructing solicitors (or others) and the ultimate client of Costs Lawyers.
Read the final report here.
CLSB thanks the members of the challenge board who gave up their time to assist us in our work: Stephanie McIntosh (CLSB Board Member), Elisabeth Davies (Chair, Office for Legal Complaints), Fran Gillon (Chief Executive. Intellectual Property Regulation Board).
This project has been made possible by a grant from the £3.7 million Regulators’ Pioneer Fund launched by the Department for Business, Energy and Industrial Strategy (BEIS). The fund enables UK regulators and local authorities to help create a UK regulatory environment that unleashes innovation and makes the UK the best place to start and grow a business.