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Large law firms have faced growing pressure since 2010 to deliver more value to clients, creating pressure for efficiency and lower rates. The 2020 Law Firms in Transition Survey (June 2020) reports on large law firm trends. In my Part 1 post, I covered survey results around long term changes, innovation, and the rise of senior strategic professionals. In this Part 2, I cover alternative staffing, efficiency initiatives, and pricing. Alternative Staffing Overview. Firms…
A Briefing written for Foundation Software Group I have long been a fan of Foundation Software Group. I remember seeing their platform with a consulting colleague the first time in 2016. One of our clients showed it to us. We were not only impressed by the functionality and design, we were shocked. I say shocked because between my blogging and Tweeting and my colleague’s connections to law firms, we could not understand how we…
This is a live blog post of a 90-minutes video discussion with Richard Susskind and Mark Cohen about “Digital transformation and the legal function” and “The future of legal technology”. It is hosted by Legal Geek and sponsored by Thomson Reuters, UnitedLex, and iManage. This is the fourth of a four-part discussion, The Uncertain Decade, “Richard Susskind and Mark Cohen debate the future of the legal industry”. (Prior posts: Session 1 and Session 2 and…
I recently spoke to two lawyers turned legal tech entrepreneurs about their early stage software companies. I start with a discussion of the problem each sets out to solve, then turn to observations of and implications for the legal tech market more broadly. Solving a Broad Problem: Allocating Lawyers to Matters and Managing Capacity At most large law firms, partners can choose associates to staff their matters. This causes multiple problems. Some lawyers get good…
This is a live blog post of a Legal Value Network virtual webinar, A Look at Client-Side AI-Powered Legal Spend Analytics Tools. As with all of my live blog post, I publish as a session finishes, so please forgive typos and misunderstandings of meaning. Panelists: Brad Blickstein, Principal at Blickstein Group and Partner and Co-Head, NewLaw Practice Group at Baretz+Brunelle [Moderator] Arun Mistry, Vice President, Legal Operations at Providence St. Joseph Health Brad Rogers, Chief…
At its core, knowledge management is about finding lawyers who or documents or matters that can answer another lawyer’s questions about law, transactions, regulatory matters, judges, investors, clients, or industries. With finding so central to KM, software that searches collections of documents and other data sources has long been central to most large US law firm KM initiatives. To be most useful, software should search across multiple data sources and presents results with the ones…
Last week Altman Weil released its 2020 Law Firms in Transition Survey, which reports on large law firm trends as of 2020. I provide comment here on several, including long term changes, innovation, and how many firms have senior strategic professionals. Part 2 of this post will cover additional trends, mainly around creating value for clients. [I also Tweeted about findings, here. I last blogged about the Law Firms in Transition survey in…
This is a live blog post of a 75-minutes video discussion with Richard Susskind and Mark Cohen about “UK vs US – the next decade” and “Skills and education for legal professionals in the 2020s”. It is hosted by Legal Geek and sponsored by Thomson Reuters, UnitedLex, and iManage. This is the third of a four-part discussion, The Uncertain Decade, “Richard Susskind and Mark Cohen debate the future of the legal industry”. The topic today…
Litigation, ADR, ODR—The Next Normal? a live blog post of a College of Law Practice Management virtual event. As with all my live posts, please forgive typos and misunderstandings of meaning. (Note abbreviations: ADR = alternative dispute resolution. ODR = online dispute resolution) The session description is below; the panelists are: Jordan Furlong, moderator—author, speaker, analyst, forecaster at Law 21. Nicole Nehama Auerbach—litigator, co-founder of pioneering law firms Valorem Law and ElevateNext. Sohail Mohammed—electrical engineer,…
This is a live blog post of Microsoft’s Trusted Advisor Forum on Innovation webinar on 17 June 2020. As with all my live posts, please forgive any typos or errors of understanding. I post this as the session ends. The full description of the event is below. A speaker reports this event has almost 300 registrant and between 200 and 250 were attending at about the 30 minute mark. This is a long post. This…