Posts Categorized: Innovation

Back when we used lawyers

Posted by & filed under Innovation, Technology.

My father was born in 1922. When he was 7, and the stock market crash triggered the Great Depression, cars were still an unusual sight in his hometown. Forty years later, he watched a live broadcast of Neil Armstrong walking on the surface of the moon. Less than 40 years after that, he used Skype… Read more »

The confidence of the dinosaurs

Posted by & filed under Innovation.

“When the platform changes, the leaders change.” — Seth Godin You’ve seen the same signs I have. The volume of pro se litigation continues to set new records every year, most notably in family law. Do-it-yourself websites for contracts, wills and divorces keep flourishing, with non-lawyer providers like LegalZoom and Rocket Lawyer boasting millions of… Read more »

The limited-profit law firm

Posted by & filed under Innovation, Purpose, Uncategorized.

What if your law firm were legally prohibited from making too much money? What if there were a fixed profit ceiling for equity partners, and any profit exceeding that amount had to be distributed to others? What if your firm explicitly placed social goals ahead of revenue goals — what would change about your firm’s… Read more »

What mergers can’t achieve

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

Back in my university days, I remember walking past the Graduate Students Office and seeing a photocopied diagram taped to the door. It was called “The Doctoral Candidate Flowchart,” and it provided a series of turns and directions for graduates struggling to get their thesis finally completed. My favourite entry on the flowchart was in… Read more »

Goodbye to all that

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

Last week, having written about the rise of online disruptors and the emergence of super-boutiques, I promised that the final entry in this de facto trilogy would identify how lawyers and law firms can ensure their profitability in this new environment. But then I spent three days at ILTA’s Rev-elation, the 2011 annual meeting of… Read more »

The rise of the super-boutique

Posted by & filed under Big Firms, Innovation.

Yesterday, I advanced the notion that lawyers’ profitability now depends on what they do and how they do it. One reason is disruptive internet-based providers that not only are grabbing commodity work and profiting from it, but more dangerously, are also changing the values clients associate with “good legal service” to emphasize speed, affordability and… Read more »

Here come the disruptors

Posted by & filed under Innovation, Technology.

Lawyers used to have the Midas Touch: whatever we did, however we did it, we were profitable, because no one else could do it (and no one else was allowed to try). From now on, lawyers’ and law firms’ profitability hinges completely on what we choose to do and how we choose to do it…. Read more »

Innovation pays

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

I’m willing to wager that the one phrase most frequently spoken in partnership meetings, when the subject of potential new initiatives comes up, is: “Are any other firms doing this?” Law is virtually the only industry where a negative answer to that question is met with disappointment. Doing what everyone else is doing will get… Read more »

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