Remaking News of the Week: Traditional law firms must adapt or die

Legal Futures recently headlined Traditional law firms must adapt or die, tech GCs warn. 

The interview reported the use of what some might call melodramatic language, like ‘inertia’, ‘still stacking meetings with lawyers’, ‘unless BigLaw adapts to the way agile providers are doing things, they’re on their death bed’ and ‘they need to change their (business) model’.

The GCs head the legal functions in Monzo, Transferwise and Revolut– all tech companies. They are exposed on a daily basis to tech- and business model-based innovation in the early stages of the life cycle. As such, their voices are portents for BigLaw.

Big Money Is Betting On Legal Industry Transformation

Big Money Is Betting On Legal Industry Transformation writes prolific contributor to Dialogue, Mark Cohen.

If “Money makes the world go ‘round,” then the legal world is spinning as never before. Law has been big business for decades, but only recently has significant venture capital, private equity, and entrepreneur money been pumped into the legal sector. Last year saw an eye-popping 718% increase in legal industry investment, and this year’s capital infusion through the third-quarter has already surpassed last year’s $1 billion total and could well double it.

Choice point: Tackle this law firm profit problem or go for a surf

Remaking News of the Week: Canadian business is turning away from BigLaw

I re-phrased the headline of this week’s Remaking News of the Week to read Canadian business is turning away from BigLaw because, like some others, I find the reference to ‘alternative legal service providers’ in the source of the news an anachronism.

In Tune With the Future: College of Law Practice Management

The College of Law Practice Management presents In Tune With the Future, a conference focused on demonstrating how the future of legal practice has already arrived.

The conference will take place in Nashville on 24-25 October 2019, featuring 40+ experts presenting examples of the future in practice today.

Remaking News of the Week: Mark Rigotti speaks about the future of work

In Remaking News of the Week, Mark Rigotti speaks about the future of work in an interview with journalist James Ashton. Mark is the long-standing CEO of Herbert Snith Freehills which is a pioneer of many new ways in a legacy BigLaw business model firm.