Strategies for gathering and harnessing knowledge have existed in law firms for decades. However, knowledge management suddenly found itself in the spotlight as a result of the COVID-19 pandemic. Enforced remote working reduced opportunities for knowledge sharing between colleagues and this gap was filled with knowledge databases and experienced knowledge lawyers. Now that hybrid and virtual workforces are here to stay, these new working practices have combined with technological developments, enhanced demand, and the transformation of how to access knowledge to drive the advancement of knowledge management into a new era. Knowledge Management in Law Firms: Challenges and Opportunities Post-Pandemic is the essential guide to the evolution of law firm knowledge management. It covers how to revisit your strategy in light of recent and future changes, the expansion of knowledge management to encompass legal tech and innovation, the rise of the importance of data, strategies for overcoming the challenges hybrid and virtual working pose to knowledge management, managing knowledge teams, and much more. Chapters are written by an international group of KM experts from a range of organisations and leading law firms, including DLA Piper, Linklaters, and Dentons. Pandemic experiences and lessons learnt are shared as well as ways to approach the future. Knowledge is at the heart of the legal profession, and this book provides guidance on how to prepare for and thrive in the knowledge management practices of the future, overcoming the obstacles and embracing the opportunities that have arisen from or been accelerated by the pandemic. Through demonstrating how effective knowledge management can help firms exceed client expectations, differentiate themselves in the competitive market, and, ultimately, improve their bottom line, this title will be of interest to knowledge management professionals including professional support lawyers, law firm leaders, partners and fee earners, and, outside of law firms, in-house lawyers and consultants.

Effective risk management in law firms has never been more important. Lawyers must contend with the long-standing risks associated with the practice of law, such as anti-money laundering and issues of client confidentiality, as well as new risk areas such as data protection and cybersecurity, and increased regulatory burdens. Poor handling of these risks can lead to reputational damage, diminished client relationships, and even regulatory action, and so it is critical for law firms to remain vigilant and put in place robust risk management policies, processes and systems. Risk Management in Law Firms brings together lawyers, consultants and other risk and compliance professionals to provide expert and practical guidance on essential risk management topics. Chapters cover risks relating to clients, internal operations and law and regulation, and address recent developments including issues arising from the shift to hybrid working, the increased focus on ESG and climate change, and the extended influence of clients through outside counsel guidelines. There is also consideration of the future of risk management with coverage of the proposed changes to the SRA Codes of Conduct to address issues relating to wellbeing and unfair treatment at work, and the commercial opportunities for law firms and individual lawyers presented by the increasingly flexible principles-based regulation. This title aims to help law firm leaders and individual lawyers understand and prepare for the risks they face - as well effectively handle them when issues do arise - whether they occur in the firm's internal operations or its dealings with clients. In-house counsel and others will also find it useful to understand their law firm colleagues better, enhancing professional relationships. With the comprehensive coverage of key risk areas in this title, lawyers and firms can not only ensure compliance, but also maintain healthy client relationships, educated staff, a positive reputation, and continued success and growth.

Law firms have evolved exponentially over the last few decades, and today it requires far more than legal skills for firms to operate efficiently, fulfil client demands, give back to their communities and, ultimately, succeed. As a result, specialist roles beyond fee-earning have been created and more continue to emerge as technology advances and competition intensifies. They are a crucial part of future-proofing law firms and there is growing recognition of the respect and value they deserve with increasing numbers gaining positions in senior management. These roles range from working with legal tech to bringing in new business, from managing the firm's risk and compliance function to collaborating with clients to develop new products. For a lawyer looking to take the next steps in their career, or a law firm wanting to implement the career paths required for future success, it can be difficult to know where to begin. The Rise of Specialist Career Paths in Law Firms is the essential guide to the plethora of career opportunities available in law firms. It covers more established roles such as the professional support lawyer and pro bono professional, and new, emerging career paths, including in innovation and legal operations, as well as roles that will become available in the future. Written by experts with lived experience performing these roles, chapters provide information and insights into the different opportunities available, the skills needed to thrive in these positions, the responsibilities they entail and how to build careers in these spaces. With increasing client demands and the 'talent war' raging, this title will demonstrate how implementing these specialist career paths will enable law firms to continue to provide stellar client service and develop and retain top legal talent, who are increasingly looking for more tailored and flexible career options. It will also provide individual lawyers with the resource to identify and pursue the career that suits them best, allowing them to thrive to the benefit of both the individuals and their firms.

It has never been more important for law firms to plan for the future. A highly competitive market, an aging profession, the changing ambitions of younger generations, many of whom place greater importance on work-life balance than reaching top leadership levels, and a long-held reluctance to discuss retirement and succession, all combine to create what some are calling a succession crisis. It is time to face the issue head-on and start putting systems in place to ensure the long-term success and health of lawyers and their firms: succession planning is the answer to this. A successful succession encompasses two core elements: transitioning firm management to a new generation, and transferring client relationships. This title provides guidance not only on how these two transitions can be achieved effectively, from the perspectives of both individual partners and the firm, but also on the plethora of issues involved in preparing for the departure of retiring partners and transitioning in new leadership, including compensation, the role of diversity and inclusion and financial considerations. It also considers situations where more specific and specialised plans may be required, such as managing the succession of a rainmaker or a founding partner. A strong and effective succession plan ensures that clients are retained over the long-term, retiring partners leave optimistic and satisfied, future leaders are in place and prepared for their roles, and the firm continues to grow and flourish. The shift to a more remote work environment has also made the institutionalising of processes such as succession planning even more important. By providing a thorough understanding of its many elements, this title explains how effective succession planning can be implemented and ensure smooth leadership and client transitions, securing and enhancing the current and future success of partners and their firms.