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The ‘Personal Legal and Industrial Relations’ services sector of the Australian Legal Services Industry, according to IBISWorld, accounts for 21.7% of the total industry’s revenue (which in 2019 was estimated to be AUD $20.8 billion).
The ‘Personal Legal and Industrial Relations’ services sector of the Australian Legal Services Industry, according to IBISWorld, includes legal work related to wills and estates, personal injury, workers’ compensation and family law.
Legal services related to ‘industrial relations’ usually involve unions and large corporations. Since the Fair Work Act 2009 was implemented, employers have grappled with good-faith bargaining, industrial action and permitted agreements. Legal firms can provide services to both employers and individual employees.
Sole proprietors and small firms primarily are the primary providers of personal legal services, as services in this segment are less profitable than services in other segments.
The ‘Personal Legal and Industrial Relations’ services sector of the Australian Legal Services Industry, according to IBISWorld, has increased as a share of industry revenue over the past five years, despite a decline in the workplace accident rate.
Divorce processes tend to be complex and often involve dividing matrimonial assets and custody of dependents. A rise in the number of divorces generally increases demand for law firms and practitioners that specialise in family law.
Growth in this segment is largely due to law firms increasingly offering a no-win no-fee incentive to consumers for personal injury and workplace claims.
Note 1: This information is reproduced from the IBISWorld Industry Report M6931 Legal Services in Australia February 2019 Kim Do
AVG Forensic’s primary referral source is the Australian legal services industry. The Australian Legal Industry – Drivers of Value provides our insight into the value drivers for this industry based on our research, experience and knowledge. To receive a copy of our full report, please supply your details below you will receive a link to your copy.
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