What is a Network?
All businesses represent a pool of financial and human capital that creates a product or performs a service. This capital can be configured in an unlimited number of ways to achieve specific objectives for the service provider or manufacturer. In international professional services, the traditional delivery methods are operations by means of a controlled entity or membership in an association of independent service providers. These associations are commonly referred to as “professional services networks.” Law firm networks are one type of professional services networks.
Professional service networks are primarily found in accounting and law. They may also be found in investment banking, insurance, real estate, and architectural services. Every profession that operates locally but has clients in multiple locations is a potential profession for a network. This book will focus on legal, accounting, multidisciplinary, and specialty practice networks. Today, members of these networks employ more than one million professionals and staff, and have annual gross revenues that exceed $200 billion. In the legal profession revenues approach $100 billion U.S. dollars.