Why the economics of free agency should worry partners

Some years ago, during a conference of BigLaw leaders in Chicago, I came to understand why the economics of free agency should worry partners in BigLaw firms. Until then I had not paid full attention to the free agent phenomenon.

David Parnell opens his book on The Failing Law Firm with an exposition of the adverse impact of free agents on that American religion, baseball. With David Goener, I updated the analysis of why law firms fail in this October 2017 post.

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Remaking the news of the week: Episode 1

Remaking the news of the week is a new feature on The Dialogue. Each week I will write circa 100 words why the chosen item is, in my opinion, newsworthy in a Remaking Law Firms context.

Appropriately Remaking the news of the week kicks off citing Bob Ambrogi‘s report in Above the Law on three BigLaw firms that are variously pioneering and supporting lawtech startups.

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New Book: What’s Your Digital Business Model?

Today I am unabashedly recommending What’s Your Digital Business Model?, a new book by Peter Weill and Stephanie Woerner. Chairman and Senior Research Scientist at MIT’s Center for Information Systems Research, Peter is regarded as the leading researcher and thinker in this space – and he is also my friend and former colleague at Melbourne Business School.

Watch the video, buy What’s Your Digital Business Model and accelerate your organization’s digital journey.

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De-equitization is the elephant in the room in BigLaw’s profit distribution

The annual ritual of the release of the Am Law 100 financial results is playing again. In 1979 Steven Brill launched American Lawyer and brilliantly used the Am Law 100 league table as a marketing tool. In doing so Steven allowed elephants into the room. In this post, I (re)make a few comments on the merits and dangers of league tables, making the point that de-equitization is the elephant in the room in BigLaw’s profit distribution.
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Update: NewLaw firm combo intends to halve corporates’ legal spend

For the first time, three luminaries who appear on The Dialogue are featured in the same story by legendary Bob Ambrogi on the equally renowned Above the Law website.

Bob reports on the formation of ElevateNext, an innovative partnership designed to comply with the US’s ethical rules and enable those who are not lawyers to invest in the provision of technology-based and process-related services bundled with legal services to corporate law departments.

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