Reinvented law firms emphasize collective knowledge


"If law firms are to escape commoditization by creating a new partnership with clients, they must innovate in ways

that deliver unique value. In this second part of a two-part article on reinventing the law firm/client relationship, we

examine two core components of this enhanced value proposition: (1) rethinking the way talent is developed, so

that junior lawyers can provide business-focused, client-specialized expertise far earlier in their careers; and (2)

harnessing the collective knowledge and expertise of the firm for efficient delivery of creative, premium-level advice

and advocacy."

In order to be successful in today's changed economy, law firms will have to have a better understanding of their intellectual property. To this end, development of a first-rate KM department will be critical.

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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.

© Julie Ketover, Dechert LLP | Attorney Advertising

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