John Alber, Mike Polson, Michael Roster, Richard Tapp, Emma Ziercke, Martyn Caplan, Joanna Goodman, Christie Guimond, Markus Hartung, Debbie Epstein Henry, Fleur Kitchingman, Chrissie Lightfoot, Janvi Patel

New Directions in Legal Services

Herausgeber: Armentano, Laura

• Broschiertes Buch

Produktbeschreibung

Legal services providers today need to innovate in their business models, delivery methods, and moreover in their value propositions in order to compete against competition coming in all shapes and sizes (and from unexpected quarters).New Directions in Legal Services examines the fast pace of change in the legal services sector, driven in part by new technologies, and considers what the future holds. We also look at some examples of new business models and service delivery methods that are disrupting the market, and the new approaches to pricing and profitability that are necessary to support new ways of working and delivering legal services. With research, insight and real world case studies from law firm leaders, NewLaw pioneers, in-house counsels, academics, consultants, and legal futurists New Directions in Legal Services covers:The impact of technology on the traditional law firm business model New business models altering the legal services landscape, driven by AI and emerging technologiesMoving beyond AI and CC, what is the next big thing for legal services?How Design Thinking can be applied to legal service designThe evolving legal talent poolRethinking pricing and profitability to support new ways of delivering legal servicesUmbrella models for law firmsUnbundling legal services and new options for in-house teamsLaw firm-client collaboration through the managed legal networkBusiness model innovation - Implementing and sustaining changeThe message to the legal sector could not be clearer: innovate or die. New Directions in Legal Services clearly outlines how individuals, law firms, and legal departments are accepting the challenge and are innovating alongside the New Law service providers that have taken root in the industry to provide a growing array of options for lawyers and clients

Produktdetails

• Verlag: Globe Law and Business Limited
• Seitenzahl: 96
• Erscheinungstermin: 1. August 2017
• Englisch
• Abmessung: 156mm x 234mm x 13mm
• Gewicht: 454g
• ISBN-13: 9781783582983
• ISBN-10: 1783582987
• Artikelnr.: 62119242

Autorenporträt

By John Alber; Martyn Caplan; Joanna Goodman; Christie Guimond; Markus Hartung; Debbie Epstein Henry; Fleur Kitchingman; Chrissie Lightfoot; Janvi Patel; Mike Polson; Michael Roster; Richard Tapp and Emma Ziercke - Edited by Laura Armentano

Inhaltsangabe

Executive summary . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . .viiAbout the authors . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . xiChapter 1: Why the developments to the competence
divide (and notthe digital divide) will make or break the law fi rm
business model . . . . . . . . . .1By Emma Ziercke, research assistant, and
Markus Hartung, director, at theBucerius Center on the Legal Profession
(CLP) at the Bucerius Law SchoolFrom information asymmetry to the closing
competence divide:An elusive aspect of the law fi rm paradigm . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . 1How legal technology will
change the business of law . . . . . . . . . . . . . . . . . . . 3Is legal
technology really changing the law fi rm model? . . . . . . . . . . . . . .
. . . 5Information equilibrium, but in a dynamic market? . . . . . . . . .
. . . . . . . . . . . . 9Chapter 2: AI and fi ve new business models for
legal services . . . . . . . . . . . .11By Joanna Goodman, writer, editor,
and IT columnist for the Law SocietyGazette and the Guardian Media
NetworkNew business model 1: The lawtech start-up . . . . . . . . . . . . .
. . . . . . . . . . . . . . 13New business model 2: The legal chatbot . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . 15New business model
3: Online legal advice . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . 17New business model 4: The legal platform as a service . . . . . . .
. . . . . . . . . . 19New business model 5: The legal engineer . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . 21Chapter 3: What is the next
big thing for legal services? . . . . . . . . . . . . . . . . 23By Chrissie
Lightfoot, CEO of Robot Lawyer LISA and CEO of EntrepreneurLawyer
LimitedSuspicions and reinventions . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . 24From AlphaGo to AlphaLaw? .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . 24Four aspects of legal services . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . 26Time equals money . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . 27ContentsNew-Directions_RO_2017.indd iii
ew-Directions_RO_2017.indd iii 27/07/2017 13:23 7/07/2017 13:23Evolving
legal artifi cial intelligence from carthorse to racehorse . . . . . . . .
. 28Inviolable lawyers . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . 29Paper-pusher
pushout . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . 30Renovating private practice . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
31Chapter 4: The missing ‘E' in legal innovation . . . . . . . . . . . . .
. . . . . . . . . . . . . 33By John Alber, futurist at the International
Legal Technology AssociationInnovation talk . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. 33Apple innovation . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . 34Design Thinking . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . 36A new model? . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. 38Chapter 5: The evolving legal talent pool . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . 41By Debbie Epstein Henry, founder of DEH
Consulting, Speaking, WritingChapter 6: Rethinking pricing and profi
tability . . . . . . . . . . . . . . . . . . . . . . . . . 45By Michael
Roster, co-chair of the Association of Corporate Counsel's ValueChallenge
steering committee; previously managing partner of Morrison &Foerster's Los
Angeles offi ce and GC of Stanford UniversityThe historical problem . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . 45Use of market data to determine pricing . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . 46Matrix budget . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . 47The three Es . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
48Multi-disciplinary practices . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . 49Chapter 7: A new business
model for a sustainable future . . . . . . . . . . . . . . 51By Martyn
Caplan, founder and director of Lawyers Inc.The traditional legal model . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . 51Potential threats to the fi nancial stability and future of a
legal practice . . 52Creating a different business model . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . 55It's good to talk –
and we will listen . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . 57Chapter 8: Evolving business models in legal services . .
. . . . . . . . . . . . . . . . . 59By Janvi Patel, executive chairwoman
and founder of HaleburyTraditional law fi rms . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 59The
in-house model . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . 60Unbundling legal services . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . 63Our evolution – The Halebury model . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . 64Next stage of the evolution . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . 66Conclusion . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
67New-Directions_RO_2017.indd iv ew-Directions_RO_2017.indd iv 27/07/2017
13:23 7/07/2017 13:23New Directions in Legal ServicesChapter 9: Law fi
rm-client collaboration through the managed legalnetwork . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . 69By Richard Tapp, company secretary and
director of legal services,Carillion plc and Fleur Kitchingman, senior vice
president of legal andcorporate secretary, Carillion CanadaIntroduction . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . 69Agenda for change . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . 70Our aspirations . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 71Our processes .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . 71Reflections on collaboration . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. 76Chapter 10: Business model innovation – Implementing andsustaining
change . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . 77By Mike Polson, director of Ashurst
Advance and co-head of innovation atAshurst, and Christie Guimond, R&D
strategy manager at Ashurst AdvanceDrivers for change . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . 77Traditional Big Law vs Evolving Big Law models . . . . . . . . . .
. . . . . . . . . . . . . . . 78The evolving business model in practice –
Ashurst Advance . . . . . . . . . . . . . . . . . . 80Implementing and
sustaining change . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . 81Parallels from the past? . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . 84