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
Slides and Videos - globalchange.com
13.5 million unique visitors - 4 million video views
http://www.globalchange.com
