Today’s post (219) is Part IV of #GreatExpectations for the #GreatReset, a 5-part series on
This post is the third in a 5-part series, #GreatExpectations for the #GreatReset. The aim of this series is to provide a shared foundation of fact and data to help envision the market dislocations likely to occur in the current economic downturn and recovery.
Continue Reading #GreatExpectations, Part III: As the Mighty Fall, New Challengers Rise (218)
Now is the winter of our discontent: the worst (😧!) year (🤮!) EVER (😣!!) is finally in the rearview mirror. Although the first stretch of the new year presages some grim days ahead, I’m doing my best to look to 2021 and beyond with hope and optimism.
Continue Reading #GreatExpectations for the #GreatReset, Part I: a Recession Retrospective and a Post-Pandemic Reckoning (216)
If we polled business school professors, all would agree that long-term strategy beats short-term strategy, at least over the long-term. If true, the following two statements ought to be in tension with one another:
Over the past three years, law firm tech businesses, sometimes called law firm subsidiaries, “New Law” or captive ALSPs, have generated quite a bit of buzz. See, e.g., Dan Packel, “
Markets have evolved dramatically over the centuries with the world moving from traditional markets like souks and bazaars to eCommerce. The differences in efficiency between the two are staggering with buyers and sellers now enjoying faster transaction cycle times, lower administrative costs, and, most important, greater value derived from their purchases and sales. A number of factors contribute to this development.
Continue Reading Competition based on better commercial contract terms (211)
In earlier Legal Evolution posts, I’ve shared reflections upon my career journey (080), professional evolution (143), and current area of focus (159). This article describes an investment hypothesis for the upcoming decade focused on building the future of the practice of law [hereafter,
When my co-founder Ketan and I were at Harvard Law School
This essay is about the importance and value of building shared “legal infrastructure,” which is a term coined by the eminent economist and law professor Gillian Hadfield in her book, Rules for a Flat World (2017).
Continue Reading Legal infrastructure and the forgotten story of the Restatements (207)
NewLaw is not what you think it is. It is not a label to be applied only to new companies with trendy names. It is a business model that any legal services provider can, in theory, adopt. Cf. Post 055 (discussing clear evidence that “legal operations is a discipline” for buyers and sellers of legal services and thus not just a role within a legal department). But, while new companies built for it, others have to overcome how they created themselves in the first place.
Continue Reading Metrics of the NewLaw Model (206)