What is Latent Commercial Potential in a law firm?
The relationships, trust, expertise, experience and client knowledge a firm possesses that could become useful to a client but have not yet become work.
Short answer
The relationships, trust, expertise, experience and client knowledge a firm possesses that could become useful to a client but have not yet become work.
Why does Latent Commercial Potential matter?
A firm can possess significant commercial resources without converting them into matters. The distinction helps separate resource possession from resource activation.
What is the evidence status?
This is a working construct in the Law Firm Demand research program, not an established empirical finding. The definition is intended to be tested against practitioner evidence, prior research, counterexamples and actual matter-origin decisions.
Related foundational essay
Why can a trusted firm remain outside a client’s next major mandate? Distinguish capability, consideration and execution before choosing where to invest.
What Is Law Firm Demand? →Explore the Law Firm Demand research hub or read how the research is developed.