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If we could know in 2020 what we will know in 2025 (only five
foreseeable years into the future), how would we change our
attitudes, actions, and the way in which we practice law, the
services we offer, the clients we target, and the ways in which we
choose to deliver our services? Indeed - if we could have known a
year ago the events of the first three months in 2020, what might
we have done to prepare? The American writer and humorist, Mark
Twain, advised: "When everybody is out digging for gold, the
business to be in is selling shovels!" So, what foreseeable trend
may represent the figurative "shovel" that every client will need
tomorrow?
The COVID-19 pandemic has undoubtedly had a seismic and lasting
impact on how the business of law is conducted. Whilst 2020
certainly expedited changes that were already trending - flexible
work schedules, fully-remote offices, revised resource allocations,
new client expectations - it also forced firms to adopt practices,
methodologies, and strategies that pre-COVID they insisted they
could not. These changes are not only here to stay but have become
the expectation. Law firm attorneys, staff, and indeed clients are
no longer interested in a traditional office, nor the practices
that typically occurred within them. The modern law firm needs to
evolve with both employee and consumer expectations in order to
stay abreast with the post-pandemic world. The Post-Pandemic Law
Firm looks at how law firms can make a paradigm shift, adopting an
entirely new business model that focuses on providing outcomes,
outputs, and results to their clients and internally places the
wellbeing of their team as a cornerstone to the future long-term
success and sustainability of the legal profession. Chapters
include changes to business models, virtual and remote working, how
the pandemic has affected women in the profession, the future of
dispute resolution, M&A activity and changes to pricing models
- all authored by highly respected practitioners in the modern
legal system. For those law firms leaders and lawyers that realize
a 'return to normal' is exactly the wrong approach, there is an
opportunity to create a brighter future where work-life balance,
market innovation, and smart use of technology will define the law
firm of the future.
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