Tuesday, 21 May 2013

The Big Four Challenges Facing the Legal Profession: Overheads, Market Liberalisation, Technology and Client Demands



The author of Tomorrow's Lawyer Richard Susskind (@richardsusskind) recently appeared on an episode of Bloomberg Law with Lee Pacchia (@leepacchia). Lee Pacchia asked: "What is the current state of the legal profession?"

"It's in a tremendous state of flux. I've been looking at it for over 30 years and we're seeing three huge drivers of change. 
One: massive cost pressures of a kind and dimension we've never experienced. 
Secondly: especially in England we're seeing liberalisation; as in non-lawyers and non-law firms are more heavily involved in the delivery of legal services. 
Thirdly: globally as we're seeing there's immense opportunity for the use of technology to streamline and sometimes transform the way that legal services are delivered. 
So all of this adds up to a marketplace very much in flux. With new potential competitors to law firms coming into play and clients becoming ever more demanding. They've really got to cut their costs."
These changes and challenges echo the overview of the new professional services landscape provided in a report by the FT in conjunction with Meridian West. See it here.

Richard went on to give a pen sketch of some of the more changes happening at a micro-level including the shaping of new kinds of lawyers and legal professionals who will specialise in and carry out very specific work. One last quote from the tomorrow's world lawyer:
"We're living in a world transformed by technology and the law will be no exception."
- Richard Susskind 

6 comments:

  1. Great post, I can definitely relate to a lot of this. Our firm specializes in personal injury and boasts one of the best personal injury attorneys in Worcester and all of Massachusetts. The biggest challenge for us is definitely client demands, which can often be a bit extensive in large legal battles.

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