Break the law firm business model

Today we re-publish Break the law firm business model, Jordan’s Furlong’s inaugural post on the blog of the ABA’s Center for Innovation, on the Advisory Board of which Jordan serves. He starts by quoting what is becoming an apocryphal statement by Neota Logic founder Michael Mills“Innovation destroys hours” and goes on to say those three words in a 2014 blog post summarize the fundamental challenge that every law firm faces today. They reflect two market realities that are inherently incompatible with each other.

Since I published Remaking Law Firms: Why & How in 2016 (ABA) the realisation that the business model of BigLaw firms is their Achilles heel has been gathering momentum. Jordan concludes this post by addressing BigLaw leaders and owners: “You’re going to have to change your law firm’s business model eventually”; read on to understand the logic of his argument.

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Navigating the multi-polar legal market

Georgetown Law School and the Thomson Reuters Legal Executive Institute are ready to call it: the party’s officially over. The 2017 edition of their annual Report on the State of the Legal Market is unequivocal in its assessment of how completely the commercial legal services market has changed over the past decade.

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Law firm strategy in a buyer’s market

 Today’s post is by Jordan Furlong about his new book, ‘Law Firm Strategy in a Buyer’s Market’.

“Strategy” is a widely used and frequently misunderstood term in law firms. Ask most lawyers about their firm’s strategy, and they’ll think back to that time when the firm’s leadership team took several meetings and at least one offsite retreat to come up with a grand vision for the firm, eventually expressed in a handsome bound document that now occupies the rarely accessed top shelf in their office. (Editor: The truth of Jordan’s observation is not limited law firms.)

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The intangible law firm

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The party is over! Navigating the multi-polar legal market

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