Presentation on theme: "Inside the Law Firm of the Future By Susan Saltonstall Duncan RainMaking Oasis, Inc. For the College of Law Practice Management October 23, 2010 www.rainmakingoasis.com."— Presentation transcript:
Inside the Law Firm of the Future By Susan Saltonstall Duncan RainMaking Oasis, Inc. For the College of Law Practice Management October 23, 2010 www.rainmakingoasis.com 1
The Market is Changing How Clients Will Obtain Legal Services Technology, automation Technology, automation Knowledge sharing Knowledge sharing Globalization, off- shoring, outsourcing Globalization, off- shoring, outsourcing Pricing for value delivered Pricing for value delivered Efficiency and process engineering Efficiency and process engineering Law firms owned and run by non-lawyers Law firms owned and run by non-lawyers www.rainmakingoasis.com 2
Traditional Law Firm Structure: top down for maximum leverage/profit www.rainmakingoasis.com 3 Partners Associates/ Counsel Staff/Contract Attorneys, Litigation Support/eDiscovery Legal Research/Paralegals/ Others: consultants, agents, etc.
Evolution of Legal Services by Richard Susskind www.rainmakingoasis.com Bespoke Standard- ized Systemat- ized Packaged Commod- itized Trusted Advisor or Thought Leader; Hourly Shrink-Wrapped Brand; Fixed Fee 4
FMC Technologies GC: Jeff Carrs 4 Buckets : All Legal Services Fall in a Box www.rainmakingoasis.com 5 1. Advocacy 2. Counseling 3. Process 4. Content (Low) Importance (High) (Low) Knowledge and Judgment (High)
The Law Firm of the Future What does the client need? Deliverables? Skills required? What value can we deliver for a given cost? Am I the right person to do this? Am I adding value? Can someone (or something) else do this better, cheaper, faster? www.rainmakingoasis.com 6
Who Will Provide Legal Services Inside the Future Law Firm? Fewer partners, fewer associates (only partners-in-training) Fewer partners, fewer associates (only partners-in-training) More staff attorneys, lit support More staff attorneys, lit support More consultants, specialists, paralegals More consultants, specialists, paralegals Process analysts, managers, engineers and decision analysts Process analysts, managers, engineers and decision analysts Budgeting & finance managers Budgeting & finance managers Project managers Project managers More high level business professionals supporting clients and law firm: More high level business professionals supporting clients and law firm: Chief Value/Pricing Officer Chief Value/Pricing Officer Client Services Officer Client Services Officer Knowledge Management Officers Knowledge Management Officers Department Operating Officers Department Operating Officers Practice Group/ Department Business Managers Practice Group/ Department Business Managers Competitive Intelligence specialists Competitive Intelligence specialists www.rainmakingoasis.com 8