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Determine your law firm’s destiny

Posted in Australasia, Business Models, Change, Leadership, Legal Profession, Strategy
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There are many interesting and innovative structural and strategic options for law firms nowadays which can be attractive to clients. It is wise for these to be considered in planning for your future.

The way legal services are delivered to clients and how firms are structured to do so, should undergo a significant transformation. This must also be factored into planning for the future.

So-called ‘NewLaw’ firms have been quick to capitalise on the opportunities this has presented, with an array of innovative structures and service delivery models all of their own. In this way they are determining their firms’ destinies, rather than having this dictated to them by market forces.

You can learn about these transformative practices as well at a Masterclass Workshop to be presented by my Edge International colleague, Jordan Furlong.

Jordan (at Edge we call him our ‘futurist guru’!) is a leading legal industry analyst, commentator and consultant, and will provides practical advice for traditional law firms looking to import and integrate relevant ”NewLaw” features into their businesses, in order to position themselves for their chosen future.  Jordan will be supported at the workshop by new Edge International Australia principal, Dr Neil Oakes.

Details for the workshop:

  • time and date: 12.30 – 5.00 pm, Wednesday 9 September, 2015;
  • venue: Gold Coast Convention & Exhibition Centre;
  • investment:  $495 (including GST) for ALPMA members and $595 for eligible non-members and includes lunch and afternoon tea. You do not have to attend the ALPMA Summit (taking place that week) to register for this workshop;
  • more details:  click here

At this workshop you will gain an understanding of:

  • the global legal market in mid-2015 and the trends that are reshaping the relationships between law firms (especially small and midsize firms) and their clients;
  • ‘NewLaw’ market participants in Australasia and worldwide, with a particular emphasis on the services they provide, the legal work they have already captured, and the future directions they are likeliest to pursue (with examples);
  • the essential features that allow these new participants to be so competitive, in particular their use of systematization, multi-sourcing, technology, incentive structures, pricing mechanisms, business intelligence, and client responsiveness; and
  • how traditional law firms can begin to import and integrate many of these features into their own businesses, in order to improve their own competitiveness (with examples of law firms worldwide that have already done so).

Jordan has also written a two part blog for the ALPMA blog on Adapting to NewLaw, that you might like to reference: Part 1 , Part 2

Sean Larkan, Principal, Edge International