future of law, legal profession, lawyers, barristers, solicitors, attorneys. how legal firms are...

Dr Patrick Dixon Chairman Global Change Ltd

Future Law Firms - 10 Key Trends

http://www.globalchange.com

If  you  started  with  a  blank  sheet  of  paper  to  create  a  third  millennial  law  firm  or  

legal  department  for  corpora9on,  what  would  it  

look  like?  

Related               Ideas              

Issues                                                       Agile                                                                                                              4

• Click  to  edit  Master  text  styles

$40bn a month

•

£1 trillion debt 33% bought back

Text

The future is about

EMOTION

Speed  will  ma+er

even  more  

21

80%  lost  in  10  seconds  

       Mul2-­‐channel            

Lawyer  Chat  –  Social  Media

De-­‐regula2ng  law  firms  

100  applica9ons  to  beAlterna9ve  Business  Structures

• 1 in 3 top 40 firms looking at non-legal practice merger in 2 years

• 2  firms  “likely”  to  seek  finance  and  public  lis=ng    =<£50m

• 6  firms  “possible”  with  non-­‐legal  firm  in  next  2  years    =<£20m

• Parabis  Group  -­‐  £50m  investment  from  Duke  Street  Capital,  to  acquire  other  law  firms  in  insurance  • Quindell  PorColio,  outsourcing  company,  paying  £19.3m  for    firm  that  specialises  in  personal  injury• Slater  &  Gordon,  law  firm  publicly  traded  in  Australia,  buys  Russell  Jones  &  Walker  for  £53.8m.

Mergers  and  Globalisa2on

Consolida9on• 75%  law  firms  in  early  discussions

• US  Law  Firm  mergers  up  80%  2011  

Virtual  Firms  Smaller  Offices

Virtual  Law  Firms  –  451k  artwicles

Life  is  too  short  to  visit  lawyers

• No  need  for  big  offices

Axiom  Legal

Mul9na9onals  run  into  the  Cloud

• 25%  large  corpora9ons  plan  par9al  migra9on  in  2  years• 11%  in  12  months• 30%  global  market  in  UK  –Financial  services

• $56bn  /  year  (Gartner)• $150bn  by  2013  • SoXware  as  a  service• Infrastructure  as  a  service• PlaZorm  as  a  service• 90%  MicrosoX  R&D

OutsourcingLegal  Processes

1 billion children à cities

�

4 couples needed to produce just

one great-grandchild

India  Legal  Jobs  à  US

Infosys  alone  =  25,000  IT  graduates  each  year  

• India  22,000  Law  gradua=ons  pa <20%  labour  cost      Legal  process  $650m                          to  India  pa:  $4bn  2015                                                                                                                                                                                                                                                                      (Forrester)

Commodi2sedLower  Fees

Fixed  Fees  for  Defined  Service

• Legalzoom• Cyberse.le• Completecase.com• Google  scholar

Access  to  legal  advice  for  $49

£50

Legal  SearchCommunity  Knowledge

• Zettabyte = 1024 ExabytesExabyte = 1024 PetabytesPetabyte = 1024 TerabytesTerabytes = 1024 Gigabytes That's a data explosion of 44x in

Data

Why Searchhad to change

social networks just in time

More  LawsRush  to  new  regula9ons

Global  Warming  -­‐  facts

Why  Biofuels  Are  No  Answer

USA

Beyond  Compliance

Advice  on  Behaviour

 -­‐  Insider  dealing  was  thought  smart  –-­‐  Bribes  were  set  against  corpora>on  tax  -­‐    

Compliance is Dead except as a defensive strategy

•Faster•Mul=channel•Deregulated•Merged  /  global•Virtual

•Outsourced•Commodi=sed•Automated•More  complex•Beyond  compliance

If  you  started  with  a  blank  sheet  of  paper  to  create  a  third  millennial  law  firm  or  

legal  department  for  corpora9on,  what  would  it  

look  like?  

Dr Patrick Dixon Chairman Global Change Ltd

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