How BigLaw and NewLaw are entering the vernacular

Stories in today’s Lawyers Weekly are a pointer to how the terms BigLaw and NewLaw are entering the vernacular. Coined as neologisms to capture the essence of two types of business model for the delivery of legal services, BigLaw and NewLaw are becoming entrenched, at least in some parts of the ecosystem.Lawyers Weekly carries two stories in which the journalists Lara Bullock and Melissa Coade have done an excellent job in reporting on developments of interest in the emerging story of BigLaw firms remaking their business models and the growth of NewLaw firms.

Minter Ellison’s Tony Harrington talks about one of the biggest opportunities and challenges faced by BigLaw business model firms like his: Change management. For those readers not yet aware, Minter Ellison launched Flex, a variable cost delivery model earlier this year.

Further growth in Marcus McCarthy’s Nexus Law Group is reported in the In-house lawyers join NewLaw boutique article.

Both stories are worth more than a passing glance for many reasons, including how the terms BigLaw and NewLaw are entering the vernacular.