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Probably not, but we’ll see.  A surprising conversation with digital transformation expert Isabel Parker

It’s already been quite a year for law firm innovation.  Just last month, Norton Rose Fulbright launched LX Studio, a new “innovation-focused” subsidiary, and Wilson Sonsini unveiled Neuron, a proprietary SaaS platform for start-ups.  Exciting propositions, but the development that had the NewLaw cognoscenti scratching their heads was ‘white shoe’ firm Cleary Gottlieb launching of ClearyX, which the firm describes as a “platform for highly efficient, AI and data-driven legal services.”

What’s driving these unveilings? And, are these new platforms worthwhile?
Continue Reading Q: The first “White Shoe” law firm launched an innovation subsidiary. Does that matter? (315)

The main residence of Veraton, Paul Cravath’s country estate, circa 1907. Source: “Veraton,” Old Long Island, Oct. 31, 2011.

Creating a baseline to measure the wealth, and building turmoil, of the current Gilded Age.

It is hard to imagine a more stark and tangible manifestation of the original Gilded Age than the large estates built along the Long Island Sound in the region that would later become known as the Gold Coast.  Yet, you may be surprised that such opulence was not limited to robber barons or captains of industry.  In fact, some of the very best real estate was owned by their lawyers.

Above is a photo of the main residence of Paul Cravath’s Veraton estate, which was built in 1905.  Shortly after completion, the lavish property was profiled in Town & Country magazine, which noted that Veraton “consists of over 600 acres of lawn, gardens, woodland, farmlands and paddocks. … The residence and outlying buildings are so placed that every advantage of beauty and utility has been obtained.”  See “One of Long Island’s Stateliest Homes,” Town & Country (Nov. 30, 1907) at 12.
Continue Reading The original Gilded Age lawyers (312)

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Five New #Legaltech Unicorns.  One Unicorn Nearly Doubles in Value.  Three Companies Go Public. 

It might be unfair to say that legal technology arrived in 2021. After all, law firms and law departments, the primary target buyers of legal tech, have been preparing for the impact of AI and automation.

In 2018, Amlaw 100 firms like Reed Smith and later Wilson Sonsini began creating dedicated tech-focused subsidiaries. See Post 213 (Zach Abramowitz’s overview of law firm-led legal tech.  In late 2019, the chairman of an AmLaw 50 firm told us, “We know there is new stuff, we know that our clients know about the new stuff. The question is how we become proactive so that our clients don’t bypass us on the way to the new stuff.”
Continue Reading How the first half of 2021 signals the maturity of an ecosystem (255)

Photo by BP Miller via Unsplash / Clear-sighted & pragmatic teams will win the day.
Talk of disruption dominated the last decade.  In 2021, widespread change in legal markets appears elusive.  Will this time be different?

Today’s post (219) is Part IV of #GreatExpectations for the #GreatReset, a 5-part series on…

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One-to-many legal solutions are built by teams of multidisciplinary professionals. It’s time to build a legal talent supply chain.

The above graphic is a map of the human capital needed to create “one-to-many” legal solutions (Human Capital Map).  It’s a dense graphic on a complex topic. To explain its structure and the key insights it provides, I’ll cover the following topics:
Continue Reading Human capital for one-to-many legal solutions (126)

Rather than wait for it, Microsoft’s legal team has decided to create what it needs, starting now.

Innovation is taking place in many parts of the legal ecosystem these days. Yet, as relates to legal operations inside corporate legal departments, a refreshing community of practice is starting to unfold. The camaraderie and fellowship among practitioners,…