Tomorrow's Lawyers

We are, I have no doubt, on the brink of fundamental change in the world of law, and my main aim is to encourage wider discussion of the forces at play and their likely impact.

We are, I have no doubt, on the brink of fundamental change in the world of law, and my main aim is to encourage wider discussion of the forces at play and their likely impact. The more-for-less challenge is driving change as clients demand greater value from legal services. Economic pressures are forcing businesses and individuals to seek ways to reduce legal costs while still meeting their growing legal needs. This is compounded by liberalization of legal services markets, which is allowing new providers to enter and compete. Finally, rapidly advancing information technology is enabling new ways of delivering legal services more efficiently and at lower cost. Key drivers of change: Economic pressures ("more-for-less" challenge) Liberalization of legal services markets Advancements in information technology These forces are converging to create an environment ripe for disruption of traditional legal service models. Law firms and in-house legal departments that fail to adapt risk being left behind as more innovative providers emerge to meet client demands in new ways.

Legal engagements such as deals and disputes, I am saying, are not monolithic, indivisible professional engagements that must all be sourced and undertaken in one way. Instead we can decompose (economists would say 'disaggregate') work into various tasks and should undertake each, I propose, in as efficient a manner as possible. Decomposing legal work allows it to be broken down into component tasks that can then be sourced in the most efficient way. This might involve outsourcing routine work to lower-cost providers, using technology to automate certain tasks, or employing paralegals for appropriate activities. The goal is to match each task with the most cost-effective way of completing it while maintaining quality. Examples of decomposed legal tasks: Document review Legal research Due diligence Contract drafting Project management By decomposing and strategically sourcing legal work, firms can reduce costs, improve efficiency, and focus highly skilled lawyers on the tasks that truly require their expertise. This approach challenges the traditional model of having expensive lawyers handle all aspects of a matter regardless of complexity.

Individually, these existing and emerging systems will challenge and change the way in which certain legal services are delivered. Collectively, they will transform the entire legal landscape. Emerging legal technologies are poised to dramatically reshape how legal services are delivered. These include artificial intelligence for legal research and document review, automated document assembly, blockchain for smart contracts, and online dispute resolution platforms. While disruptive to traditional practices, these technologies also create opportunities for lawyers to deliver services…