The slow pace of change in the legal profession means it is “not surprising” to see new types of firms, with completely different business models, winning market share, an authoritative survey has found, adding that “the market is ripe for change”.
Is every person in your law firm representing your brand values to clients? This is an issue which can threaten your firm’s hard-won place on an advisory panel, as a recent interview highlighted. Mavericks have no place in any service-based business, let alone in a highly competitive market. Few law firms are able to differentiate their services to the point that corporate counsel consider them to be indispensable and irreplaceable. In-house legal departments are also investing in technology, including artificial intelligence, to produce repetitive legal work to a higher quality and lower cost than law firms.
A lawyer-matching service originally designed for tech start-ups and SMEs has secured a second, much larger cash injection of £850,000 from a range of investors led by e-commerce specialist Forward Partners.
Legal technology columns and opinions by Christy Burke.
The Internet of Things (IoT) is poised to affect everyone, everything, everywhere, no doubt including the legal industry and the clients it serves. But will it have a drastic impact on IT operations at law firms? How can lawyers participate in the IoT phenomenon in a meaningful way?
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