The Legal Services Act 2007 has fundamentally altered the legal market, transforming the regulatory framework and economic landscape. In an increasingly competitive market place, law firms must make strategic choices that will affect their long-term prospects. "Strategy for Law Firms" guides firms through the strategic options available to them and suggests how they might position themselves to succeed in the market. The book provides a practical approach that is underpinned by sound strategic and academic principles. The author offers insight, drawn from his vast experience of the legal market, on a range of topics including: harnessing a firm's intangible resources and capabilities; competitive positioning; the creation of a value added strategic plan; Alternative Business Structures as a tool to implement strategy; mergers; law firm funding and valuations, including external funding; governance; and profit sharing. The author has created a new framework with which to analyse and assess your firm's position in the market, and identifies and explains 15 possible models of ABS under the new rules.Although primarily aimed at law firms in the UK, the book is relevant to legal firms around the world.