Wednesday, August 6th, 2014 – Monthly Insights
An Eco-system of BigLaw and LPOs
Peter Kalis, chairman of KL Gates, an out spoken and well spoken legal industry statesman gives a call to law firm leaders regarding the big picture of the evolving legal industry economy, the critics of BigLaw, new legal services providers and how it all fights together. To read his recent June 30th article click here.
Highlights:
- All legal service providers, whether firm or not, are based on the classical legal profession. Critics to BigLaw are only drawing attention, but are still apart of the classical lawyering eco-system
- ABLACs – Against Big Law at Any Cost – Just as it sounds, ABLACs are those who are one dimensional “enemies” to classical lawyering and BigLaw.
- BigLaw serves clients from the top end legal requirements. These top end services are driven by a) Globalization, 2) Regulation & 3) Innovation.
- As efficiencies further drive the legal industry, BigLaw should not fear LPO’s, etc. but rather see them as a complement to classical top end lawyering.
Now contrast this to Bruce MacEwen’s post 7 days later (click to read)
Your Weekly Adam Smith, Esq.
Bruce discusses what is Disruption based on Asymco’s definition. The definition spells out what disruption is, how can it happen, what makes a fight unfair, how do incumbents react and then the response of the challenger. The key question is who suffers on the incumbent side and why? It goes back to notion of speed and how quickly is it disrupting the incumbents.
It would be safe that say that many law firm partners are not truly disrupted by the legal changes in the industry and ultimately, the junior partners and law firm associates will be faced with the choices and consequences of their predecessors.
Escape and Explore – Alternative vacation secret spots
Lawyer Sales Tip
Start a Twitter account. Really. Its an incredible way to give yourself visibility to clients looking for representation or who was not looking for you. I was skeptical about this platform for sometime until I noticed how much visibility it brought to my services. Aside from LinkedIn being the best business development platform, Twitter is second on my list. To learn how, simply search Best Practices Twitter and you will get plenty of tips. Most important is to start now.
