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Chart your own course: How law firm structures are changing

by: Jayne Durden, VP of Law Firm Strategy, and Host of the ongoing Law Firm Webinar Series

When I began my career in law, the way law firms positioned themselves was quite different.  Firms looked very similar from the outside and clients chose outside counsel based on reputation and relationships. Law firms didn’t need to advertise their services or differentiate by their efficiency.

But 2020 is a very different story. Today’s law firms know they must change, with globalization, technological revolutions, and the changing demands of clients all pressuring the legal profession to adapt. Competition is also high and differentiating their practice is key.

Unfortunately, knowing they must change and actually changing are two very different things.

Indeed, a recent survey by Wolters Kluwer found that legal professionals believe there’s a significant gap between trends and readiness to address them. Three-quarters of these professionals say that the increasing importance of legal technology will be the top trend to impact their organizations over the next three years, but only 28% are ready.

The legal profession has traditionally been slow to adapt, but the disruption caused by the 2020 pandemic is forcing firms to examine their structures and adapt to a new normal. With most of their workforce now working out of their homes, law firms have had to introduce flexible working and remote options, while introducing new technology to make this all happen.

This isn’t the ‘end of lawyers’ as some have predicted but refusing to adapt to the new landscape will undoubtedly cause problems in the not too distant future. However, buying an array of new technology and hiring some business professionals is not enough now. A brand above your door means nothing if you can’t deliver on your promises. The old mechanisms for success are not guaranteed, so are you ready to meet the challenges ahead?

To navigate the unfamiliar terrain of this ever-changing landscape, it’s best to seek advice from those who are already moving ahead.


Join our panel discussion “Law Firms Navigating New Frontiers” on Thursday, October 15.

Our panelists include Jessica Lancia, Patent Operations Manager at Alston & Bird, Neil Kardos, Partner with Harrity & Harrity, and Randy Noranbrock, Partner at Hauptman Ham. The panel will cover how their IP law firms are organizing their businesses, what they are trying to achieve, and the pressures on them right now.

 

Register

 

This webinar is part of a two-month series that will provide you with practical skills to take back to your firm and learn from diverse law firms on how they are moving forward during these challenging times. View the full calendar here.