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by FrankenPC
3390 days ago
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You haven't heard of Law 2.0. The slow rise to financial dominance is coming to an end for the big Amlaw firms. A disruption event is on the horizon where lawyers will need to be replaced with technology/law expert hybrids who will program the legal systems which will act autonomously with as little intervention as possible. Hands on law will eventually become a thing of the past. I've been working in legal for 25 years on the IT side. I've seen it go from ALL paper to 'paper on demand'. Nearly everything is digital with ETL warehousing acting as the data conductor. The clients are fed up with $1000 an hour corporate lawyers and want another cheaper and faster solution. |
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While databaseing case facts, contracts, documents, laws, jurisprudence, etc. has escalated in recent years, fundamentally a law firm is not providing those as key services - they are ancillary profit centers. One hires a contract manager to manage contracts, not a top-flight firm.
The value proposition of a law practice is dependable competence in a wide spectrum of related sub-fields. As those profit centers are commoditized and margins fall, firms will merely shift pricing, technology and talent sourcing strategy, not fall apart, because in many cases, the amount of people with competence in those fields is countably limited. Most top flight firms will be fairly straightforward with you if you ask: they don't compete on price. They compete for clients on quality of service and prestige.
The fantasy that law will act autonomously with little intervention is charming and sensible to non-practitioners. The rules are the rules, after all, what could go possibly go wrong? In practice, the answer is often 'everything'.