Trust as basis for development of relationships between professional service providers and their clients. Economics and management = Ekonomika ir vadyba

In the world professional services dominated by knowledge represent a large and rapidly increasing sector of the economy. Professionals have the scope to focus their resources on narrow fields of expertise, gain experience across diverse range of clients, and innovate in the process of their engagement. Because of reason that knowledge and relationships are being the true sources of sustainable competitive advantage, professional service providers and clients need continually to enhance the development of their relationships. Knowledge-based relationships can be deepened by mutual trust. The aim of this paper is to point up the importance of trust in professional service providers ’ and clients ’ relationships dynamics. The paper is divided in three parts. First part addresses for conceptualization of professional services, second one reveals the nature and dimensions of trust; and the third part examines the different trust dimensions in dynamics of relationships between professional service provider and client