A strange finding on the use of NewLaw providers by BigLaw firms

A strange finding on the use of NewLaw providers by BigLaw firms focuses a seeming omission in the 2016 Alternative Legal Service (ALS) Study by the Thomson Reuters Legal Executive Institute, Georgetown University’s Law Center for the Study of the Legal Profession and Oxford’s Saïd Business School.

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Posted by on Nov 2, 2017 in BigLaw firms, Law departments, NewLaw business models, Strategy | 5 comments

Why BigLaw firms fail

This post on ‘Why BigLaw firms fail’ aims to help prevent future failure of more firms.

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Posted by on Oct 31, 2017 in BigLaw firms | 3 comments

Classic: Why BigLaw firms go down the money hole

‘Why BigLaw firms go down the money hole’ was first published by Ed Reeser in 2015. It is re-posted on Dialogue as a Classic because I have recently been made aware of two Australian law firms that are in difficulty, at least in part, for reasons related to Ed Reeser’s thesis, namely propping up profits per equity point is somehow viewed as a means of maintaining confidence in the firm.   

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Posted by on Aug 17, 2017 in BigLaw firms | 0 comments

Lost in translation: BigLaw’s communication (and trust) issues

Today celebrated BigLaw leader, chairman emeritus of Seyfarth Shaw LLP, Stephen Poor contributes ‘Lost in translation: BigLaw’s communication (and trust) issues‘ to Dialogue.  

We talk a lot about the change needed in pricing legal services. The reality, however, is that the impetus for change in pricing structures will come from the corporate buyers, not the BigLaw sellers, of legal services. In fact, law firm leaders have consistently acknowledged this in every Altman Weil survey for the past 5 years: 66% or more of firms offering services on an alternative fee arrangement (AFA) basis did so “in response to client demand,” rather than acting proactively out of a belief that new pricing models will create a competitive advantage.

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Posted by on Aug 15, 2017 in BigLaw firms, Clients | 1 comment

BigLaw is adopting elements of NewLaw to stay competitive

The latest edition of the CommBank Legal Market Pulse report in Australia reveals BigLaw is adopting elements of NewLaw to stay competitive. The report is based on a quantitative survey by Beaton Research + Consulting of CEOs, managing partners and other senior leaders in Australia. Forty law firms participated in the survey for during May 2017.

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Posted by on Aug 11, 2017 in BigLaw firms, Business models, NewLaw business models | 0 comments