Bill Mooz

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Millennials were already skeptical of the law firm model. Then the pandemic hit, reinforcing the legal profession’s worst tendencies. A walk through the data.

Law firm leaders generally underestimated the magnitude, duration, and impact of the COVID-19 pandemic. Like other experienced but untrained decision-makers, many law firm leaders were excessively optimistic about their firm’s prospects and conceptually limited in defining their firm’s risks.

Even the law firms that met or exceeded their financial aspirations now face a force stronger and more threatening to their business model than COVID-19: disaffected, disenchanted, and disappointed Millennial attorneys constituting nearly one-half of all attorneys in the 400 largest law firms. Thus, lawyers are very much a part of an upheaval in the nation’s workforce that Gallup calls the “The Great Discontent” and “The Great Resignation.”
Continue Reading Millennial attorneys, COVID-19, and innovation (260)

Source:  Gravity Stack [Click on to enlarge]

Sophisticated investors are betting on contract tech. It’s about business, not the intricacies or importance of law.

Today’s post (256) and last week’s (255) are a two-part series on the burgeoning legal tech sector.

Whereas Post 255 focused on the explosion in the legal technology market over the past year—five new #Legaltech Unicorns, three companies go public—this post looks contract tech, which is arguably legal tech’s hottest subsector.
Continue Reading Because Everyone Else Cares: Why legal should be paying attention to contracts (256)

Photo by Jeremy AAsum on Unsplash

If blazing a new path is your only option, it’s also your best option. Make the most of it.

[Editor’s note:  If readers pick up a copy of Richard Susskind’s Tomorrow’s Lawyers (2nd ed. 2017) and flip to page 135, they’ll see a table captioned “New jobs for lawyers.” This table is reproduced below.  Richard writes, “these are the jobs that flow quite clearly from the arguments and claims of this book.” 
Continue Reading One student’s career journey into legal tech (196)

Lawyers Trust Fund of Illinois has been thinking about this question for more than 30 years.  Often, the answer involves legaltech.

On the outside chance that the afterlife involves a meeting with St. Peter at the Pearly gates, those working for the Lawyers Trust Fund of Illinois (LTF) will have good story to tell. …

IFLP is proud to collaborate with the above list of innovators and early adopters.

Later this month, the Institute for the Future of Law Practice (IFLP, or “I-flip”) will celebrate its one year anniversary. Before that, it was just an idea in the minds of a few dozen lawyers, legal educators and allied professionals.  In…