Stable definitions for the working constructs used across the research program.
Demand Potential
The conditional possibility that a defined client need becomes a professional-service engagement with a particular firm, given the firm's relationships, relevance, timing, mobilization and the client's buying decision.
Read the definition →Latent Commercial Potential
The relationships, trust, expertise, experience and client knowledge a firm possesses that could become useful to a client but have not yet become work.
Read the definition →Demand Conversion
The process through which a firm recognizes a client need, connects it with relevant capabilities and helps the client decide whether to engage the firm.
Read the definition →Conversion Window
The period between a client need becoming actionable and the point at which the firm's ability to influence counsel selection materially declines.
Read the definition →Relationship Compounding
The possibility that repeated, relevant interactions build trust and understanding that make a future engagement more likely.
Read the definition →Demand Activation
A change in a client's circumstances that creates or brings forward a legal need, making the firm's capabilities relevant.
Read the definition →Institutional Expansion
The development of broader client relationships across a firm's capabilities where additional expertise serves a real client need.
Read the definition →Demand Leaks
Points where potential work fails to progress because awareness, relevance, ownership, coordination or action is missing, or because the client sees insufficient value.
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