Posts Categorized: Clients

The stratified legal market and its implications

Posted by & filed under Big Firms, Clients, Innovation.

An extraordinary conversation has emerged among multiple authors in the blawgosphere over the past few days. It revolves around a pressing question: in light of the huge changes in the marketplace, what will become of law firms? More specifically, given the increasing segmentation and stratification of the universe of legal work, how can law firms… Read more »

The new price wars

Posted by & filed under Billing, Clients, Innovation.

Their World Series victory last fall wasn’t the only surprise the San Francisco Giants sprang on the baseball establishment. Throughout the 2010 season, the team engaged in “dynamic pricing,” changing the price of single-game tickets according to demand. The same seat for a Monday night yawnfest in May against the Washington Nationals, for example, would… Read more »

The new battlefield: convenience

Posted by & filed under Clients, Competition, Innovation.

Whatever happened to Napster? Depending on your age, you might remember it either as a piracy-enabling nuisance, a groundbreaking music-swapping service, or the dusty antecedent of iTunes. Time magazine caught up with Napster’s founder, Shawn Fanning, and three other pioneering hackers in a recent article that describes them as “The Men Who Changed The World.”… Read more »

Will-writing and the redefinition of “legal services”

Posted by & filed under Clients, Competition, Governance, Outsourcing.

Last month, a BBC investigative program called Panorama exposed a wide range of illegal and unethical practices by “will-writers,” advisors who help people prepare wills and who are not lawyers. One result of that broadcast could be a significant clawback of lawyer regulatory power over the legal services marketplace in the UK, with implications for… Read more »

The evolution of outsourcing

Posted by & filed under Clients, Innovation, Outsourcing.

Still in its relative infancy, legal process outsourcing has already had a huge impact on the legal services marketplace: scoring major deals with the likes of Microsoft and Rio Tinto, garnering the attention of private-equity investors, and helping to expose the degree to which law firms have overcharged for the simplest legal work, among other… Read more »

The end of inevitability

Posted by & filed under Clients, Competition.

If you want an example of how the legal profession likely will respond to new competitors and a future marketplace very different than today’s, take a look at how Canada’s real estate agents are coping with change in their market. (Short answer: not well). The Globe & Mail reports on a rising wave of sell-it-yourself… Read more »

Frugal innovation and the law

Posted by & filed under Clients, Innovation, Purpose.

Lawyers need to learn a very important lesson from a salad spinner.  Specifically, we need to understand the implications of the Sally Centrifuge, developed by students at Rice University in Texas: The necessary parts: one salad spinner, some hair combs, a yogurt container, plastic lids, and a glue gun. The finished product: a manual, push-pump… Read more »

The new rules of pricing

Posted by & filed under Billing, Clients.

Recently, I’m told, several GCs and senior lawyers of large law firms gathered in London for a high-level conversation about new billing mechanisms. One noteworthy observation to emerge from the meeting was the law firms’ insistence that whatever new mechanism was developed, it had to take into account chargeable time invested in the work. I… Read more »

Ready or not, here come the clients

Posted by & filed under Clients.

What’s left to say about the 2000s? What the legal profession (and the marketplace in which it operates) have just gone through was, as Brad Hildebrandt points out, unprecedented in almost every way. I won’t recap the changes — as Law21′s second full year draws to a close, you can read about them in many… Read more »

The hyperlocal lawyer

Posted by & filed under Clients, Solo & Small Firm.

You’ve seen plenty of references to the decline of traditional news media here, usually in the context of similar struggles in the legal marketplace. Instead of dwelling on that industry’s problems, however, here’s what looks like one of its future successes, and how it might have potentially profound applications to the law. It’s the rise… Read more »

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