Law Is No Longer Immune To Broader Forces Driving Global Change

Discerning corporate legal buyers are less concerned with traditional legal distinctions like in-house versus firm or firm versus legal service provider. In the new legal marketplace, right-sourcing demands more collaboration and more fluidity between and among provider sources.

en flag
nl flag
fr flag
de flag
pt flag
es flag

Editor’s Note: Mark A. Cohen is one of the most cogent commentators on the area of legal business within the dynamic global legal industry. His recent article titled The Legal Industry is Starting to Collaborate — Why Now and Why It Matters shares excellent insight into the kinetics of a changing market and the impact of forces driving global change. A short extract from his just-published Forbes article highlights some of his clear insight into the culture, change, and characteristics facing new-model legal providers.

Extract from an article by Mark A. Cohen as published by Forbes

Law Is No Longer Is Immune To Broader Forces Driving Global Change

Law’s insularity—if not its culture—has changed during the past decade with the convergence of the global financial crisis, technology, and globalism. These powerful global macro-economic forces have produced legal disaggregation, segmentation, and a separation of legal practice from the business of delivering legal services-among, other things. Technology has enabled the creation of new legal delivery models whose DNA resembles business more than law.

Some common characteristics among leading new-model legal providers include: a flatter, corporate organizational structure; an economic model aligned with client value; tech-enabled platforms; focus on net promoter score (client satisfaction); institutional capital; agile, multi-generational, multidisciplinary, diverse workforces; data-driven internal and client-facing operations; proactive risk identification/mitigation; and a customer-centric focus. These providers are often referred to as “legal tech” companies. While they are tech-enabled, technology is only part of a broader, holistic process of customer-centric reorganization that drives enterprise value and responds to enterprise challenges.

Legal industry change is being driven principally by corporate buyers and new-model providers, not traditional law firms. Buyers and new-model providers are generally agnostic as to who performs the work so long as the results are fast, data-driven, risk-appropriate, and cost-effective. That requires “right-sourcing” and, in most instances, collaboration between and among different providers. Discerning corporate legal buyers are less concerned with traditional legal distinctions like in-house versus firm or firm versus legal service provider. In the new legal marketplace, right-sourcing demands more collaboration and more fluidity between and among provider sources.

Read the complete article at The Legal Industry is Starting to Collaborate — Why Now and Why It Matters

Additional Reading

Source: ComplexDiscovery

Business as Unusual? Eighteen Observations on eDiscovery Business Confidence in the Summer of 2020

The results of the recent Summer 2020 eDiscovery Business Confidence Survey present the unfortunate and continuing impact of COVID-19 on the business of eDiscovery. However, for these pandemic-driven results to be fully understood, they should be viewed through the contextual lens of the results of all nineteen surveys that have been administered to eDiscovery professionals since the inception of the eDiscovery Business Confidence Survey in early 2016.



Check Out the Observations Now!

ComplexDiscovery combines original industry research with curated expert articles to create an informational resource that helps legal, business, and information technology professionals better understand the business and practice of data discovery and legal discovery.

All contributions are invested to support the development and distribution of ComplexDiscovery content. Contributors can make as many article contributions as they like, but will not be asked to register and pay until their contribution reaches $5.

HaystackID and NightOwl Global Merge

According to today's announcement, the NightOwl merger is HaystackID's fourth major...

Mitratech Acquires Tracker Corp

The acquisition supports Mitratech’s mission to provide legal and compliance solutions...

A Window into Malware? The New Malware Reverse Engineering Handbook from CCDCOE

According to Wikipedia, malware analysis is the study or process of...

Much Ado About Something? The Hype Cycle for Legal and Compliance Technologies (2020)

The information and insight highlighted by Marko Sillanpaa of Gartner in...

A Running List: Top 100+ eDiscovery Providers

Based on a compilation of research from analyst firms and industry...

The eDisclosure Systems Buyers Guide – 2020 Edition (Andrew Haslam)

Authored by industry expert Andrew Haslam, the eDisclosure Buyers Guide continues...

The Race to the Starting Line? Recent Secure Remote Review Announcements

Not all secure remote review offerings are equal as the apparent...

Enabling Remote eDiscovery? A Snapshot of DaaS

Desktop as a Service (DaaS) providers are becoming important contributors to...

Home or Away? New eDiscovery Collection Market Sizing and Pricing Considerations

One of the key home (onsite) or away (remote) decisions that...

Revisions and Decisions? New Considerations for eDiscovery Secure Remote Reviews

One of the key revision and decision areas that business, legal,...

A Macro Look at Past and Projected eDiscovery Market Size from 2012 to 2024

From a macro look at past estimations of eDiscovery market size...

An eDiscovery Market Size Mashup: 2019-2024 Worldwide Software and Services Overview

While the Compound Annual Growth Rate (CAGR) for worldwide eDiscovery software...

Business as Unusual? Eighteen Observations on eDiscovery Business Confidence in the Summer of 2020

Based on the aggregate results of nineteen past eDiscovery Business Confidence...

A Growing Concern? Budgetary Constraints and the Business of eDiscovery

In the summer of 2020, 56% of respondents viewed budgetary constraints...

A Change in Tempo? eDiscovery Operational Metrics in the Summer of 2020

In the summer of 2020, 91 eDiscovery Business Confidence Survey participants...

Shifting Gears? eDiscovery Business Confidence Survey Results – Summer 2020

This is the nineteenth quarterly eDiscovery Business Confidence Survey conducted by...

HaystackID and NightOwl Global Merge

According to today's announcement, the NightOwl merger is HaystackID's fourth major...

Mitratech Acquires Tracker Corp

The acquisition supports Mitratech’s mission to provide legal and compliance solutions...

XDD Acquires LightSpeed Legal

According to David Moran, XDD President, and COO, “As we continue...

XDD Acquires RVM

According to XDD CEO Bob Polus, “Merging forces with RVM further...

Five Great Reads on eDiscovery for July 2020

From business confidence and operational metrics to data protection and privacy...

Five Great Reads on eDiscovery for June 2020

From collection market size updates to cloud outsourcing guidelines, the June...

Five Great Reads on eDiscovery for May 2020

From review market sizing revisions to pandemeconomic pricing, the May 2020...

Five Great Reads on eDiscovery for April 2020

From business confidence to the boom of Zoom, the April 2020...