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Posts Tagged: Legal Sector

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  • Growth is Dead: Now What?

    March 2015

    Rating: Published: 2013 Growth is Dead: Now What? is written by Bruce MacEwen, a lawyer and President of Adam Smith Esq., an online publication providing insights on the business of law. The core focus of this book is the changes in the legal industry brought about by the 2008 downturn. MacEwen defines 6 core challenges affecting the sector: Pricing pressures Excess capacity Proliferation of career tracks Partner expectations Lateral partner mobility Critical role of truly strategic thinking Ultimately these issues boil down to the fact that the market has changed substantially. Previously lawyers were in the driving seat, and with hourly billing there was little need to be efficient. But the market now finds itself in a position of low growth. The client is in the driving seat and they are are expecting more for less! MacEwen does a good job in exploring each of the challenges, backing up findings…

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  • Are Lawyers Afraid of Technology?

    February 2015

    Reading time: 3 minutes Calls for the government to implement a system of on-line dispute resolution surfaced this week. The concept is for ‘facilitators’ to work with litigants to prevent disputes going any further, with judges ruling on-line for cases that cannot be settled. The aim is to reduce litigation costs for low value claims. Of interest was not so much the article itself (posted on the Law Gazette – ‘Online courts will cut need for lawyers – IT guru), but the negative responses it received. Granted, this was not helped by the title of the article, and the term ‘guru’ hints at a certain arrogance. However, comments after the article included: “Why does every technological advancement have to ELIMINATE solicitors? Can’t it just make our jobs and the process easier?” “With the increase in automation and AI only some 10 years away, who will be litigating? Having a job will…

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  • Legal Project Management, Pricing, and Alternative Fee Arrangements

    October 2014

    Rating: Published: 2013 Legal Project Management, Pricing, and Alternative Fee Arrangements is written by Jim Hassett and has probably the longest, most cumbersome title of any book I’ve ever read! Thankfully the content is better than the title. The main focus of this book is really alternative fee arrangements, or AFA’s as they are often known. Legal Project Management (LPM) is an essential discipline to be able to use AFA’s profitably, and Hassett has chosen to introduce LPM first. Like many books on the legal sector, it makes reference to the Altman Weil surveys. These annual surveys really do provide great insight into the sector. Hassett quotes a general counsel responses to the 2012 Chief Legal Officer Survey on the question of: “what you would most like to see from outside counsel?” the answers to which were: Cost reduction (50%) Non-hourly based pricing structures (53%) More efficient project management (53%)…

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