Law Firms in 2010: 5 Pillars of Change


By and large, prestigious law schools, top-ranking students, big law and expensive billable hours have remained the most honored traditions. And then came the great recession of the 21st century. Big law lay-offs. No job offers for summer interns. Clients demanding discounts. Web 2.0 infiltrating business and professional management. And the independent thinking on the social media train picking up ferocious speed.

So what are we left with? A profession in the midst of such fundamental change that it will never be the same, even in the opinion of the most conservative thinkers. In a recent panel discussion entitled Defining the Law Firm of the Future, the only point on which there was consensus was this: "The firm that will thrive in the future is the firm that is able to deliver better value through innovation and technology."

VALUE. INNOVATION. TECHNOLOGY. How do we start? Below I'm listing what I call the 5 pillars of change that will hopefully help to organize your thoughts around where to begin.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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