Whilst the last five years or so have finally seen some big changes in the legal industry across the globe with many top tier US and UK firms, in particular, starting to globalise, the profession is still hugely fragmented compared to others such as accounting.

At the same time the Big Four accounting firms have struggled to generate organic growth in tougher economic conditions and are looking for growth through diversification into additional services such as legal. Not a surprising approach - strong brands and blue chip client bases to leverage from. They tried before pre-Enron but this time is different. And the law firms seem to be just burying their heads in the sand as their industry gets taken over by stealth.

This article in The Economist articulates well how this is playing out...