Two paths to legal innovation that change how lawyers work

With growing relaistion that collaboration in the legal services supply chain is key to strategic innovation, Ron’s post – Two paths to legal innovation that change how lawyers work – is timely. 

In my last post, I wrote unless innovation changes how lawyers work, it likely delivers little benefit to firms or clients. Since publishing that post 10 days ago, three recent items suggest two ways to get lawyers to change how they work.

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Snapshot of the legal market, missing link, and mystery disconnect

In Snapshot of the legal market, missing link, and mystery disconnect Ron Friedmann draws on two recent US surveys, the Altman Weil 2017 Chief Legal Officer (CLO) Survey and the 2018 Report on the State of the Legal Market by The Center for the Study of the Legal Profession at the Georgetown University Law Center and Thomson Reuters Legal Executive Institute and Peer Monitor®, respectively, to construct a snapshot of the state of the legal market.

Ron builds on his analysis to argue there is a disconnect between anecdotal information that alternative services providers (aka NewLaw firms or law companies) are growing and taking share from BigLaw and the published data.

I have a sneaking explanation but will wait to make the first Comment on this thought-provoking thought. 

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Hype vs. Reality: Is everything AI now?

Today, Ron Friedmann, one of our regular contributors to The Dialogue, penned this live post on Prism Legal from the Hype vs. Reality: Is everything AI now? session at the College of Law Practice Management annual Futures Conference in Atlanta. I don’t normally post four times in a week, but Ron’s piece is so topical and interesting, I am sharing it while it’s ‘hot’. Thank you Ron; you are one of the master’s of the art of live-blogging. 

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Law firm ownership: An evidence-based approach

Law firm ownership: An evidence-based approach was posted by Ron Friedmann on his blog on September 04, 2017. coming from the land of the world’s first stock exchange-listed law firm, I cannot but say Ron’s rebuttal of Bruce MacEwan (aka Adam Smith Esq.) is a must read to mull over.  

All in and observers of the BigLaw ecosystem need to have a view. Ownership and its consequences is a very important issue in maintaining the capacity of firms to deliver high and sustainable value to clients. In my opinion, the woes of Slater & Gordon not withstanding, ownership is already the major issue of our times.    

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Law Firm Profitability + Service Delivery: What the Altman Weil Survey Says

In today’s post, Law Firm Profitability + Service Delivery Ron Friedmann analyses data from the recent Altman Weil Survey in the US to show just how internally-focused BigLaw firms can be. Ron’s message is telling: The raison d’être for any professional services firm is service to clients. Its profitability is a function of the extent a firm does this successfully and sustainably.

Law firm management needs to think more about their clients. Right now, they expend more energy on boosting profitability with inward measures than they do on client service. That cannot be sustainable. 

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