How legal services will be evaluated in 2021 and beyond
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.
Of the elements that define the new business law model—tech-intensive defined processes, lawyers and business professionals blended on teams, incentives for efficiency—it is the use of metrics that can differentiate how the results look to a corporate legal department. And no provider wants to look like “Old Law” on a legal department’s dashboard.
Continue Reading Metrics of the NewLaw Model (206)