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Financial Times; January 13, 2014

The US legal market may be out of the doldrums, but a fundamental shift since the financial crisis means its old ways of working must be jettisoned to survive.

Better technology and more sophisticated purchasing of legal services by large companies are squeezing firms’ profit margins across America – the world’s largest legal market – even as the demand for their advice is beginning to increase, the findings of Citigroup and Hildebrandt Consulting’s annual survey of the biggest US firms show.

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