Law Firm
The Circuit: ReInventing Dan Katz & Thanksgiving
October 20, 2016
Daniel Martin Katz has a knack of drawing a big audience, and the now that he has settled into his new job he’s already ramping up his latest agenda. On Friday, Nov. 4, Katz will launch Fin (Legal) Tech – A Conference About Law’s Future. In August, Katz hit a home run at ILTACON (the International Legal Technology Association annual conference) with his keynote discussing his current passion: Fin (Legal) Tech — The Financialization of the Law. The time has come to rethink the economics...
October 20, 2016
Daniel Martin Katz has a knack of drawing a big audience, and the now that he has settled into his new job he’s already ramping up his latest agenda. On Friday, Nov. 4, Katz will launch Fin (Legal) Tech – A Conference About Law’s Future. In August, Katz hit a home run at ILTACON (the International Legal Technology Association annual conference) with his keynote discussing his current passion: Fin (Legal) Tech — The Financialization of the Law. The time has come to rethink the economics...
Innovators or Luddites? Legal May Be Leading the Way in AI
October 16, 2016
This week in AI, we do away with the idea of lawyers being behind the times and focus on legislators, regulators and litigators forging ahead. Lawyers are often perceived as taking an antiquated view toward their practice, taking comfort in the simplicity of boxes packed to the brim with papers and teams of reviewers tediously scanning each one for information relevant to the case. This comfort, so the generality goes, evokes an adverse response to technologies and vendors promising tools that...
October 16, 2016
This week in AI, we do away with the idea of lawyers being behind the times and focus on legislators, regulators and litigators forging ahead. Lawyers are often perceived as taking an antiquated view toward their practice, taking comfort in the simplicity of boxes packed to the brim with papers and teams of reviewers tediously scanning each one for information relevant to the case. This comfort, so the generality goes, evokes an adverse response to technologies and vendors promising tools that...
Small Firms Struggling to Take the Technology Leap
October 8, 2016
Bruce MacPherson Selecting and using new technology that positively affects a firm's bottom line is an investment. The initial time investment alone can be daunting, given the way legal technology has ballooned in recent years. It's now a multibillion-dollar buffet of choices. The struggle to remain current is felt by the world's largest firms all the way down to the smallest. Smaller firms and solo practitioners face a unique set of challenges all their own that has led to a dearth...
October 8, 2016
Bruce MacPherson Selecting and using new technology that positively affects a firm's bottom line is an investment. The initial time investment alone can be daunting, given the way legal technology has ballooned in recent years. It's now a multibillion-dollar buffet of choices. The struggle to remain current is felt by the world's largest firms all the way down to the smallest. Smaller firms and solo practitioners face a unique set of challenges all their own that has led to a dearth...
Artificial Intelligence Disrupting the Business of Law
October 8, 2016
Firms are recognising that failure to invest in technology will hinder ability to compete in today’s legal market © Anna Gordon A study by Deloitte has suggested that technology is already leading to job losses in the UK legal sector, and some 114,000 jobs could be automated within 20 years. Professor Richard Susskind, a technology consultant and co-author of The Future of the Professions: How Technology Will Transform the Work of Human Experts, predicts...
October 8, 2016
Firms are recognising that failure to invest in technology will hinder ability to compete in today’s legal market © Anna Gordon A study by Deloitte has suggested that technology is already leading to job losses in the UK legal sector, and some 114,000 jobs could be automated within 20 years. Professor Richard Susskind, a technology consultant and co-author of The Future of the Professions: How Technology Will Transform the Work of Human Experts, predicts...
Why Young Bankers, Lawyers, and Consultants Need Emotional Intelligence
October 5, 2016
VINCENT TSUI FOR HBR Early in your career — whether it’s in banking, law, consulting or accounting — you will discover that all of your colleagues are as smart and hard working as you. You’ll learn that the key to being successful must be something else. Over my 40-year banking career, I’ve learned that the critical distinguishing factor for advancing in the professional services is emotional intelligence (EQ). Without EQ, it’s likely that you will be your firm’s “best-kept secret”...
October 5, 2016
VINCENT TSUI FOR HBR Early in your career — whether it’s in banking, law, consulting or accounting — you will discover that all of your colleagues are as smart and hard working as you. You’ll learn that the key to being successful must be something else. Over my 40-year banking career, I’ve learned that the critical distinguishing factor for advancing in the professional services is emotional intelligence (EQ). Without EQ, it’s likely that you will be your firm’s “best-kept secret”...
Cheaper, Faster and Better? AI and the Future of the Profession
October 4, 2016
legal computer judge concept, lady justice isolated on white, 3D illustration.the-lightwriter It's a battle synonymous with innovative technology: the interests of the worker against those of the enterprise. With artificial intelligence (AI) in law, the question gets particularly interesting, as on the one hand, the technology could in theory mean easier access to legal services for those who cannot afford it. On the other, lower costs mean less resources to spend on new attorneys and on maintaining...
October 4, 2016
legal computer judge concept, lady justice isolated on white, 3D illustration.the-lightwriter It's a battle synonymous with innovative technology: the interests of the worker against those of the enterprise. With artificial intelligence (AI) in law, the question gets particularly interesting, as on the one hand, the technology could in theory mean easier access to legal services for those who cannot afford it. On the other, lower costs mean less resources to spend on new attorneys and on maintaining...
Mills Oakley Launches Legal Tech Accelerator, Plans Start-Up JVs
September 30, 2016
Australian law firm Mills Oakley has launched an AUS$500,000 legal tech accelerator to help develop a new wave of entrepreneurs in the legal sector and to partner with them. The firm said it is their intention to negotiate a JV structure with the successful start-ups that complete the programme. The law firm would have a minority stake and first right of refusal in relation to using any new IP or service innovations with those it partners with. The Melbourne-based firm is collaborating with...
September 30, 2016
Australian law firm Mills Oakley has launched an AUS$500,000 legal tech accelerator to help develop a new wave of entrepreneurs in the legal sector and to partner with them. The firm said it is their intention to negotiate a JV structure with the successful start-ups that complete the programme. The law firm would have a minority stake and first right of refusal in relation to using any new IP or service innovations with those it partners with. The Melbourne-based firm is collaborating with...
Are Lawyers Ready for the Internet of Things?
August 28, 2016
IoT Law While this sounds wonderful or creepy, it also marks the point that lawyers must become more than tech comfortable. Product liability, personal injury, privacy, commercial, government, and other lawyers all have roles to play in the IoT story. When an Uber car hits another car, who will be responsible? Who does the personal injury lawyer file suit against? What are the standards? Was too little or too much information shared? Was there a breach of contract somewhere? What regulations were...
August 28, 2016
IoT Law While this sounds wonderful or creepy, it also marks the point that lawyers must become more than tech comfortable. Product liability, personal injury, privacy, commercial, government, and other lawyers all have roles to play in the IoT story. When an Uber car hits another car, who will be responsible? Who does the personal injury lawyer file suit against? What are the standards? Was too little or too much information shared? Was there a breach of contract somewhere? What regulations were...
Big New Study on Necessary Lawyering Skills
August 24, 2016
The Institute for the Advancement of the American Legal System released a new “Foundations of Practice” study based on a survey of more than 24,000 lawyers nationwide. The study identifies “foundations” that lawyers need in the short term after graduation. The following are the items that at least 85% of the respondents said were needed: Communication ● listen attentively and respectfully (91.5%) ● respond promptly to inquiries and requests (91.0%) Emotional and Interpersonal...
August 24, 2016
The Institute for the Advancement of the American Legal System released a new “Foundations of Practice” study based on a survey of more than 24,000 lawyers nationwide. The study identifies “foundations” that lawyers need in the short term after graduation. The following are the items that at least 85% of the respondents said were needed: Communication ● listen attentively and respectfully (91.5%) ● respond promptly to inquiries and requests (91.0%) Emotional and Interpersonal...
Understanding Your Competition
August 20, 2016
In our last post, we focused on assessing a firm’s competitive position by reviewing planned work-life timelines, relative workload distributions, and capacity. Please see last week’s post to review that information. The next step is to compare your firm’s ability to perform to that of your competitors. Performing this analysis requires developing an understanding of the market and a willingness to accept the objective results. Practicing law is not war, but knowing that you are undermanned...
August 20, 2016
In our last post, we focused on assessing a firm’s competitive position by reviewing planned work-life timelines, relative workload distributions, and capacity. Please see last week’s post to review that information. The next step is to compare your firm’s ability to perform to that of your competitors. Performing this analysis requires developing an understanding of the market and a willingness to accept the objective results. Practicing law is not war, but knowing that you are undermanned...
