The Post-Pandemic Law Firm
Paperback Engels 2021 1e druk 9781787428010Samenvatting
The COVID-19 pandemic has undoubtedly had a seismic and lasting impact on how the business of law is conducted. Whilst 2020 certainly expedited changes that were already trending – flexible work schedules, fully-remote offices, revised resource allocations, new client expectations – it also forced firms to adopt practices, methodologies, and strategies that pre-COVID they insisted they could not.
These changes are not only here to stay but have become the expectation. Law firm attorneys, staff, and indeed clients are no longer interested in a traditional office, nor the practices that typically occurred within them. The modern law firm needs to evolve with both employee and consumer expectations in order to stay abreast with the post-pandemic world.
The Post-Pandemic Law Firm looks at how law firms can make a paradigm shift, adopting an entirely new business model that focuses on providing outcomes, outputs, and results to their clients and internally places the wellbeing of their team as a cornerstone to the future long-term success and sustainability of the legal profession. Chapters include changes to business models, virtual and remote working, how the pandemic has affected women in the profession, the future of dispute resolution, M&A activity and changes to pricing models – all authored by highly respected practitioners in the modern legal system.
For those law firm leaders and lawyers that realize a ‘return to normal’ is exactly the wrong approach, there is an opportunity to create a brighter future where work–life balance, market innovation, and smart use of technology will define the law firm of the future.
Trefwoorden
Specificaties
Lezersrecensies
Inhoudsopgave
About the authors xi
Chapter 1: COVID-19 and the rise of the 21st century law firm 1
By Wayne Hassay, Maguire Schneider Hassay, LLP
The seeds of innovation 2
And then there was a pandemic 3
The rise of the pandemic-era law firm 4
The rise of the 21st century law firm 7
Chapter 2: Pricing and business model change post-COVID-19 9
By John Chisholm, John Chisholm Consulting
Some perspective 9
Pricing 9
The “OldLaw” business and “pricing” model 10
Maybe not really fee pressures but predictability pressures? 12
Did the business model change during COVID-19? 12
The post-COVID law firm: timeless 13
Incentives matter 14
Some firm-wide Key Predictive Indicators 15
Individual Key Predictive Indicators 16
Some practical tips if you really want to move to a post-COVID timeless model 16
Final comment 19
Chapter 3: Never let a good crisis go to waste – creating value from the COVID-19 experience 23
By Stuart Wilson, chief executive officer, BIRA COVID-19 change 23
What’s next? Seven strategies for the post COVID-19 law firm 24
Conclusion 30
Chapter 4: The pandemic – a Trojan Horse for advancing diversity and inclusion? 33
By Patricia K. Gillette, author and inspirational speaker
Using remote work models to advance diversity goals 34
Using the momentum of social movements to advance diversity 37
Chapter 5: Law firms of the future (and other legal business models) 43
By Yvonne Nath, consultant, LawVision and CEO, ALSP Advisor
A brief overview of the evolving law firm model in the United States 43
Pressures shaping legal service providers 44
Other viable legal business models 48
Exploring other legal business models in more depth 53
In conclusion 56
Chapter 6: The fledgling post-pandemic law firm – status quo or brand new normal? 59
By Mary Juetten, Singular Law Group
Start with the end in mind 59
What is client-centric? 60
What is ABS? 61
Why ABS? 62
What does ABS mean for virtual firms? 63
Getting started 64
Create a solid foundation 65
Build it and they will come? 66
Virtual versus technology 66
How much virtual is too much? 66
More on subscription business plans 67
The Post-Pandemic Law Firm
Chapter 7: The value of non-legal skills in the management of law firms 69
By Jon Whittle, Jon Whittle Consulting Ltd
Why is there a problem? 69
What does “normal” look like? 72
What should law firms do to make themselves fit for the
post-pandemic market? 73
Next steps on the journey to commercial success 74
Chapter 8: Dispute resolution from A to Z – will remote
practice prevail? 77
By Mary Juetten, Traklight
Why “alternative”? 77
Preventative dispute resolution 78
Technology and artificial intelligence (AI) 79
Mediation 80
Collaborative law 81
Online education 81
Small steps forward 82
Beyond ZDR 83
Evaluating the staying power of remote. 83
Chapter 9: M&A activity post-pandemic – the future landscape of law 85
By Viv Williams, Viv Williams Consulting
Structural change 86
Succession crisis 86
Utilizing a non-executive director 87
Professional indemnity premiums 88
Market disruption 89
Cost efficiency 90
Consumer choice 90
The consolidators 91
Chapter 10: Thriving in a post-pandemic world – cutting-edge law practice areas 93
By Sally Kane and Ashley B. Jordan, Reed Smith LLP
A new era of law practice 93
Litigation 93
Insurance recovery 94
Cyber law 96
Labor and employment 97
Private equity 98
Regulatory and compliance 99
Intellectual property 100
Health law 101
Chapter 11: A happy, profitable law firm – no, really 103
By Debbie Epstein Henry, founder, DEH Consulting, Speaking, Writing
Introduction 103
Luxuriate in the billable hour 104
Invest in your firm culture 105
Facilitate connection and personal development 105
Create a work–life career continuum 106
Embrace the flexible remote lawyer 107
Perpetuate the inventive spirit 107
Conclusion 108
About Globe Law and Business 109
Rubrieken
- advisering
- algemeen management
- coaching en trainen
- communicatie en media
- economie
- financieel management
- inkoop en logistiek
- internet en social media
- it-management / ict
- juridisch
- leiderschap
- marketing
- mens en maatschappij
- non-profit
- ondernemen
- organisatiekunde
- personal finance
- personeelsmanagement
- persoonlijke effectiviteit
- projectmanagement
- psychologie
- reclame en verkoop
- strategisch management
- verandermanagement
- werk en loopbaan
