Review and Analysis of Market failure- free market - in Legal services market (advocacy) and studying the solutions: comparative study of US and UN

Document Type : Research Paper

Authors

1 llm

2 Ph.D; Associate Professor of Law;Tarbiat Modares University

10.22099/jls.2021.34509.3553

Abstract

In a free market, spending market participants in the form of private law institutions (law of contracts, civil liability, property rights) does not necessarily meet the objectives of competition law and will not have full competition. This is particularly due to the specialization of the legal profession and the factors such as Asymmetric information between lawyer and client makes this market in the event of failure and not satisfy the interests of the consumers of these services. This article is intended to express that in this issue what is the market sailure and what solutions can be offered. In short, we can say that the liberalization of the market and removing barriers to competition, must have a minimal supervision in the form of "regulation" exist to ensure quality of the service, In this paper, we express the characteristics of the market and then look at its failures and a variety of mechanisms to respond to it

Keywords

References

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