Dec
03
This is the age of the customer. The asymmetrical advantage that sellers long held over buyers is gone. Consumers have access to market information and choice that has transformed the buy-sell dynamic. Social media provides them with a reference source and a voice. The balance of power has shifted from...
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Nov
03
Transformation is a staple in legal industry articles, conferences and parlance. What is it, and what is the gauge for law’s progress? Short answer: transformation is an omnibus term to describe powerful macro socio-economic forces impacting all industries. Those same drivers—notably digital transformation—are reshaping the legal buy-sell dynamic. Legal delivery is being reimagined...
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Oct
11
If “Money makes the world go ‘round,” then the legal world is spinning as never before. Law has been big business for decades, but only recently has significant venture capital, private equity, and entrepreneur money been pumped into the legal sector. Last year saw an eye-popping 718% increase in legal industry investment,...
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Sep
30
During a recent visit to the National University of Singapore Law School (NUS), I asked a first-year student what being a lawyer meant to him. His response was thoughtful and prescient: “I regard law as a skill. I plan to leverage my legal training and meld it with my passion...
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Sep
30
Lawyers use words like masons lay stones. Words are tools of the legal trade. It’s odd, then, that one of the most important words in the legal lexicon, “upskilling,” is scarcely known to most legal professionals. That will change soon—here’s why. Upskilling is a term well-known to business. In the...
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Aug
26
Law firm sustainability—and more specifically, the future of the partnership model-- is a hotly debated topic. Some pundits suggest partnership firms are dinosaurs on the brink of extinction. They point to a Darwinian marketplace with peripatetic rainmakers; migration of work in-house and to other provider sources; competition from the Big Four and other formidable...
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Aug
12
Business is about doing more with less. This is its mantra since the global financial crisis. Tech-enabled, data and process-driven upstarts have unseated a pan-industry array of incumbents and ushered in the digital age. Optimization of customer access, satisfaction, and value are common denominators among the disruptors. Law is about...
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Jul
29
Collaboration is a fiber of the digital age business fabric. In a global marketplace climate where boundaries separating geographies and industries are melting like glaciers and technological advances are enabling new delivery models to transcend traditional divides, collaboration is essential for competitiveness. Organizations that collaborate internally, with others in the supply chain,...
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Jul
15
Law schools have ceded an opportunity to shore up their balance sheets and to do right by grads, the legal industry, and the broader society. How? They have failed to transition from three-year degree stopovers to learning centers for life that upskill grads and other professionals throughout their careers. This would have...
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Jul
09
This past Monday (July 2) Mark A. Cohen wrote the following in Forbes online: “Law is staging its own version of ‘every kid gets a trophy’ … Every week, all over the globe, the legal industry throws gala dinners to celebrate its ‘innovators,’ ‘visionaries,’ and ‘pioneers.’ These gatherings afford attendees a chance...
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