What’s happening in the law that’s different? Actually, quite a lot.
Last month, here, the UK’s Solicitors’ Regulation Authority (SRA) and the Legal Services Board (LSB) reported on their research into how law firms (and others providing legal services) are changing the way they operate. The research aims to understand what innovation means in the legal services market, explore what is driving innovation, including the impact of competition in inspiring firms to try new approaches, and understand the barriers to greater innovation.
Richard Collins, SRA Executive Director, said: “This is our first large scale research study on this topic and will help us to understand the new and different approaches law firms and others are taking and any potential barriers they face….”
Also, last month, a Legal Futures Special Report, published in association with Thomson Reuters, looked at how SME law firms are driving change in the delivery of legal services. Innovation Nation – how SME firms are driving change in delivering legal services. The report, Innovation Nation, is available for download or viewing online here.
I came across two other interesting examples of other changes in the legal landscape: see what you think:
AdventBalance is the largest and fastest growing alternative legal services business in the Asia-Pacific region. Based in Sydney, Melbourne, Perth, Brisbane, Singapore and Hong Kong, this is what they say about themselves:
- We know and understand the business of law and have responded to market demands, creating a model that is a win-win for both lawyers and clients.
- Our clients have access to a team of lawyers and consultants, combining the expertise of outside counsel with the best qualities and experience of in-house lawyers. They integrate seamlessly into your business and/or team by sitting on-site with you when needed. We get a real kick out of helping our clients solve their problems more efficiently and cost effectively.
- With innovation and value at the heart of everything we do, AdventBalance provides a genuine alternative that is changing the game.
- Our innovative approach provides a unique and immediate alternative to permanently hiring in-house lawyers or outsourcing to traditional law firms on expensive hourly rates.
- We represent significantly better value by providing exceptional lawyers without the unnecessary overheads, passing these savings directly through to our clients.
- The right legal or consulting resource when you need it. From one lawyer to a team, a day to 5 years, on-site or remote – we can do it all.
With a growing team of experienced lawyers and consultants of varying backgrounds and seniority, AdventBalance clients engage them when they:
- need to reduce their legal costs or require budget certainty;
- have a spike in workload or drop in manpower;
- need specialist expertise for a project or transaction; or
- want to develop a business case before recruiting.
More about the firm here.
Axiom is an American legal company. It has a mix of both business and legal talent—alums of the nation’s best law firms and companies. They say “because we’re the only thing like us, positions [work] with Axiom are hard-won.”
Axiom is a 1,200+ person firm, serving over half the F100 through 14 offices and 5 centres of excellence globally. This is what they say:
- As leaders and experts in the business of law, we experience a nerdy excitement from helping General Counsel solve business problems and we do it through three forms of engagement:
– Outsourcing; and
- In recent years, the historically changeless legal industry has begun to shake itself awake.
- Clients are demanding control, firms are looking to be more efficient and new entrants are innovating ways to meet changing demands. Market forces are shouting and progress is real— this changes everything.
- We’ve long found ourselves inside a complex industry. We gladly stand beside the world’s greatest companies and industry leaders, helping them navigate our changing industry with innovation that makes sense.
More about the firm here.
He has written over 700 business publications (see Glossaries at http://onesmartplace.com/resources/glossaries/) and is editor of Better Business Focus (see http://onesmartplace.com/resources/better-business-focus-magazine). His Blog, on a wide range of subjects can be found at: http://onesmartplace.com/blog/
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