Anyone interested in the future of legal practice should read Richard Susskind’s “The End of Lawyers?: Rethinking the Nature of Legal Services”.
Clients are increasingly pushing back on passed-on fees for disbursements, according to an Administrative Director in an AMLaw 100 firm (who I was fortunate to speak with recently).
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DiligenceEngine is focused on a specific problem: improving legal due diligence. But our work fits into a broader issue: making lawyers more efficient and effective.
In line with previous posts explaining the background to what we do (make legal due diligence better, faster and cheaper), this post will focus on some of the issues considered in legal due diligence.
The Wall Street Journal ran a piece on the expanding use of contract attorneys. For the unfamiliar, contract attorneys are lawyers hired to work on a temporary basis, frequently on document review projects as part of large litigation matters.
The New York Times just ran an interesting article on how (1) legal outsourcing firms are creating jobs for American lawyers, (2) legal outsourcers are growing—they “made an estimated $400 million in revenue in 2010 … which was just a tiny fraction of the world’s $200-billion-a-year legal market.
The New York Times ran an interesting piece on Biglaw firms opening lower-cost domestic “in-sourcing” operations, which has gotten coverage in other outlets
Jordan Furlong of Law21, in a post worth reading, argues that “The future legal marketplace is going to require fewer, differently skilled lawyers than it has” but that “the overall legal services market seems poised for strong growth” driven by demand and innovations from new legal service providers (“virtual law firms, legal process outsourcing companies, freelance and contract lawyer organizations, e-discovery specialists, automated document assembly programs, consumer-friendly legal kiosks and outlets, and many other options still at the embryonic stage”).