New Directions in Legal Services

New Directions in Legal Services examines the fast pace of change in the legal services sector, driven in part by new technologies, and considers what the future holds. 

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Details

  • Publication date: August, 2017
  • Pages: 100

Description

Legal services providers today need to innovate in their business models, delivery methods, and moreover in their value propositions in order to compete against competition coming in all shapes and sizes (and from unexpected quarters).

New Directions in Legal Services examines the fast pace of change in the legal services sector, driven in part by new technologies, and considers what the future holds. 

We also look at some examples of new business models and service delivery methods that are disrupting the market, and the new approaches to pricing and profitability that are necessary to support new ways of working and delivering legal services. 

With research, insight and real world case studies from law firm leaders, in-house counsels, academics, consultants and legal futurists New Directions in Legal Services covers:

  • Technologies impact on the traditional law firm business model 
  • How AI is revolutionizing legal services delivery
  • What is the next big thing for legal services
  • The missing “E” in legal innovation
  • The evolving legal talent pool
  • Rethinking pricing and profitability
  • A new business model for a sustainable future
  • Law firm-client collaboration through the managed legal network
  • Business model innovation – Implementing and sustaining change

The message to the legal sector could not be clearer: innovate or die. New Directions in Legal Services clearly outlines how individuals, law firms, and legal departments are accepting the challenge and are innovating alongside the New Law service providers that have taken root in the industry to provide a growing array of options for lawyers and clients.

Contents

Chapter 1: Why the developments to the competence divide (and not the digital divide) will make or break the law firm business model
  • From information asymmetry to the closing competence divide: An elusive aspect of the law firm paradigm
  • How legal technology will change the business of law
  • Is legal technology really changing the law firm model?
  • Information equilibrium, but in a dynamic market? 
Chapter 2: AI and five new business models for legal services
  • New business model 1: The lawtech start-up
  • New business model 2: The legal chatbot
  • New business model 3: Online legal advice
  • New business model 4: The legal platform as a service
  • New business model 5: The legal engineer
Chapter 3: What is the next big thing for legal services? 
  • Suspicions and reinventions
  • From AlphaGo to AlphaLaw?
  • Four aspects of legal services
  • Time equals money
  • Evolving legal artificial intelligence from carthorse to racehorse 
  • Inviolable lawyers
  • Paper-pusher pushout
  • Renovating private practice
Chapter 4: The missing “E” in legal innovation
  • Innovation talk
  • Apple innovation
  • Design Thinking 
  • A new model? 
Chapter 5: The evolving legal talent pool
 
Chapter 6: Rethinking pricing and profitability 
  • The historical problem
  • Use of market data to determine pricing
  • Matrix budget
  • The three Es
  • Multi-disciplinary practices
Chapter 7: A new business model for a sustainable future 
  • The traditional legal model
  • Potential threats to the financial stability and future of a legal practice
  • Creating a different business model
  • It’s good to talk – and we will listen
Chapter 8: Evolving business models in legal services
  • Traditional law firms
  • The in-house model
  • Unbundling legal services 
  • Our evolution – The Halebury model
  • Next stage of the evolution
  • Conclusion
Chapter 9: Law firm-client collaboration through the managed legal network
  • Introduction
  • Agenda for change
  • Our aspirations
  • Our processes
  • Reflections on collaboration
Chapter 10: Business model innovation – Implementing and sustaining change
  • Drivers for change
  • Traditional Big Law v Evolving Big Law models
  • Case study: The evolving business model in practice – Ashurst Advance
  • Implementing and sustaining change
  • Parallels from the past?
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Authors

John Alber
John Alber serves as futurist for the Institute for Future of Law Practice. He was also the first futurist for the International Legal Technology Association. He writes, speaks and consults widely, focusing on finding practical ways to reshape the delivery of legal services to suit a future demanding excellence far beyond substantive legal skills. Prior to his current role, John was a transportation industry CEO. Thereafter, he led Bryan Cave LLP to become one of the most innovative firms in the world, serving as its strategic innovation partner for more than 16 years. While at Bryan Cave, he also served for seven years on the firm’s operating group (its management committee). At Bryan Cave, John created one of the first Practice Economics consulting groups, one of the client facing technology groups and one of the first in-firm legal process outsourcing (LPO) organizations. The groups he created developed innovative web-based, client-centric applications that delivered legal advice to clients, managed complex workflows and even created pleadings automatically. They also developed client-facing knowledge management, project management, project estimation and business intelligence systems and highly technology-leveraged alternative staffing solutions for engagements of all types. John is an Emeritus fellow of the College of Law Practice Management. He has received a number of awards, both in the legal field and in information technology generally. Among other awards, he received ILTA’s first ever Premiership Award, was named American Lawyer Media’s first ever “Champion of Technology”, was given a Lifetime Achievement Award by Law Technology News and recognized as one of the Top 25 CTOs in the world by Infoworld. In addition, while under his leadership, Bryan Cave received recognition as a CIO Magazine “Top 100 Company” and was twice recognized as ILTA’s Most Innovative Firm.
Chrissie Lightfoot
CEO of Robot Lawyer LISA and CEO of EntrepreneurLawyer Limited. Author of The Naked Lawyer and Tomorrow’s Naked Lawyer.
Joanna Goodman
Writer, editor, and IT columnist for the Law Society Gazette and the Guardian Media Network; author of Robots in Law
Michael Roster
Steering committee co-chair, Association of Corporate Counsel’s Value Challenge
Markus Hartung
Markus Hartung is a lawyer and mediator. He is director of the Bucerius Center on the Legal Profession (CLP) at Bucerius Law School, Hamburg. His expertise in the framework of the CLP lies in market development and trends, management and strategic leadership, as well as corporate governance of law firms and business models of law firms with regard to digitalisation of the legal market. He is chair of the committee on professional regulation of the German Bar Association (DAV). As a lawyer he focuses on conflict management, regulatory matters and professional indemnity issues. In addition, he advises law firms in strategy and management questions and coaches partners in management xvi About the authors functions. He is a regular lecturer and conference-speaker on leadership, management topics, and professional ethics and has written numerous articles and book chapters on these topics. He is co-editor and author of Wegerich/Hartung: Der Rechtsmarkt in Deutschland (The Legal Market in Germany) which came to the market in early 2014 and has developed into a standard reference for the German legal market. He is also co-author of How Legal Technology Will Change the Business of Law, a joint study of The Boston Consulting Group and the Bucerius Law School. His recently published book Legal Tech. Die Digitalisierung des Rechtsmarkts is the first comprehensive analysis of the impact of legal technology on the legal profession in German speaking countries. 
Emma Zierke
Bucerius Center on the Legal Profession (CLP) at the Bucerius Law School
Debbie Epstein Henry
Founder of DEH Consulting, Speaking, Writing, and internationally recognized expert, consultant, best-selling author and public speaker on careers, workplaces, women, and the law. 
Martyn Caplan
Founder and director of Lawyers Inc.
Janvi Patel
Executive chairwoman & founder of Halebury. Janvi Patel is a NewLaw pioneer and has been spearheading operational, structural and cultural change within the legal services industry since starting NewLaw firm Halebury in 2007.  Her aim: to create an entirely original business model to service the needs of clients and lawyers at the senior end of the market by offering a range of strategic resourcing options. Ten years on the firm has grown to a team of 35 senior in-house lawyers and has partnerships with clients such at BT, Sky and Virgin Media. It is highly ranked in the Legal 500 for its work in Technology, Media and Telecoms. Halebury has particular expertise in advising on and implementing legal transformation projects for in-house teams and businesses, a consultancy service delivered by former General Counsels and Heads of Legal from businesses such as Cisco, FremantleMedia and ATOS.
Richard Tapp
Company secretary and director of legal services at Carillion plc 
Fleur Kitchingman
Senior vice president legal and corporate secretary at Carillion Canada
Christie Guimond
R&D strategy executive at Ashurst
Mike Polson
Director of Ashurst Advance and co-head of innovation for leading international law firm Ashurst

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