Market change requires change in lawyer thinking

Law firms are paying more attention to, and investing more money in, business development, but many lawyers still aren’t sure why all this is happening and why they should do things differently. The answer: The legal service market has undergone a basic and permanent economic shift from a demand market to a supply market.

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A Challenge For The Gatekeepers

In his recent post, A Challenge For The Gatekeepers on Above-The-Law, David Perla wrote: “I have a message for the gatekeepers of the legal industry: Change is coming — with or without you”. In my opinion, David knows a thing or two about the challenges that BigLaw firms face – and are largely still ignoring. Read what he has to say. Stop and reflect ‘Are you a gatekeeper?’ and if so, ‘Who’s interests are you serving?’  

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One of the last bastions of the old world

In his review of Remaking Law Firms in the Journal of the Law Society of New South Wales, Justin Moses refers to the traditional law firm as ‘one of the last bastions of the old world’. Read what the Head of Knowledge & Development: Compliance, Legal & Secretariat at the Westpac Banking Corporation has to say.

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Partners cannot say they weren’t warned

In Partners cannot say they weren’t warned Barry Wilkinson reviews of Remaking Law Firms: Why and How?, a book which looks ahead at the changing shape of the legal services market, and predicts a future in which the business models of successful law firms will have changed significantly.

Remaking Law Firms should be standard reading for anyone who is, or intends to be a partner (or owner) in a law firm of any substance in the next 10 to 15 years, putting their own money at risk. It is mainly directed at large commercial firms (BigLaw) but it has implications for firms of all sizes.

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Law 2023: A Look Ahead for the Legal Profession

Tim Corcoran’s assessment of the future of the legal services industry is captured in his post ‘Law 2023: A Look Ahead for the Legal Profession’. Tim draws, in part, on a report issued by Law2023.org, to which he was a major contributor. 

The Law 2023 report is of particular interest because its authors are independent (i.e. not commissioned by a bar association or law society or regulator), the method adopted by the collaborating partners, and the range of interviewees.  Law 2023 is well worth the time to study.

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