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
Although women comprise nearly half of all law students and incoming associates at law firms, and have done so for many years, they remain greatly outnumbered by men at senior levels. If nothing is done to change this trend, the percentage of women equity partners will remain under 20 percent for decades to come. Slow progress in gender equality at senior roles raises awkward questions for the industry - and highlights the challenges that women lawyers face when developing their careers. Indeed, at mid-career, when earnings peak, the top 10 percent of female lawyers earn more than $300,000 a year, while the top 10 percent of male lawyers earn more than $500,000. Coupled with this, the number of female equity partners at top US law firms has risen by only five percent in the last 12 years. Although women comprise 47 percent of associate ranks at law firms, female lawyers make up only 31 percent of those entering the equity partnership class. This book is for women, by women - to help female lawyers progress their careers in an industry still struggling with gender equality. Written by outstanding women lawyers in their respective fields, each contribution takes a personal and professional view of the legal sector, providing insight and analysis of issues as diverse as flexible working, portfolio careers, unconscious bias and the modern career trajectory. The book is split into four sections, and begins with the results of original research undertaken by ARK Group in early 2019. Surveying 100 women lawyers from across the globe, we asked women at all stages in their careers to open up about their experiences, from recruitment to retirement, and the challenges - and opportunities - that being female has brought. The results make for interesting, and perhaps surprising, reading.
Although women comprise nearly half of all law students and incoming associates at law firms, and have done so for many years, they remain greatly outnumbered by men at senior levels. If nothing is done to change this trend, the percentage of women equity partners will remain under 20 percent for decades to come. Slow progress in gender equality at senior roles raises awkward questions for the industry - and highlights the challenges that women lawyers face when developing their careers. Indeed, at mid-career, when earnings peak, the top 10 percent of female lawyers earn more than $300,000 a year, while the top 10 percent of male lawyers earn more than $500,000. Coupled with this, the number of female equity partners at top US law firms has risen by only five percent in the last 12 years. Although women comprise 47 percent of associate ranks at law firms, female lawyers make up only 31 percent of those entering the equity partnership class. This book is for women, by women - to help female lawyers progress their careers in an industry still struggling with gender equality. Written by outstanding women lawyers in their respective fields, each contribution takes a personal and professional view of the legal sector, providing insight and analysis of issues as diverse as flexible working, portfolio careers, unconscious bias and the modern career trajectory. The book is split into four sections, and begins with the results of original research undertaken by ARK Group in early 2019. Surveying 100 women lawyers from across the globe, we asked women at all stages in their careers to open up about their experiences, from recruitment to retirement, and the challenges - and opportunities - that being female has brought. The results make for interesting, and perhaps surprising, reading.
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
The Lawyer''s Guide to the Future of Practice Management provides law firm leaders with expert opinion on the very latest guidance and market knowledge on what today''s legal marketplace might look like tomorrow, organized into four crucial areas of practice management - technology, people and culture, finance and strategy - before taking a horizon-scan of the future, and what law firms need to be aware of in the coming months and years.
The Lawyer''s Guide to the Future of Practice Management provides law firm leaders with expert opinion on the very latest guidance and market knowledge on what today''s legal marketplace might look like tomorrow, organized into four crucial areas of practice management - technology, people and culture, finance and strategy - before taking a horizon-scan of the future, and what law firms need to be aware of in the coming months and years.