The legal profession is one of those industries that managed to stay aligned to its traditional roots for a long time, far longer than most other marketplaces. However, recent trends have suggested that this won’t be the case for much longer. There has been the rise in trends that have seen legal firms become more streamlined, more efficient, productive and competitive on a global scale. But what are these trends? Well, read on and you can find out.
Laws have recently been passed that now make information stored electronically a useful source in litigation arenas. That means emails, IM’s, voicemails, texts, Whatsapp’s, anything that used electronic data can now be used for discovery. What this has done to the legal industry is shift some of their focus because the costs and complexities of discovery have grown, seeing new roles emerge within litigation support. This trend will only keep growing too.
This has been one of the most distinct changes, and one that has a lot of legal firms doing things differently. A lot of legal services are now being outsourced as a way of freeing up internal resources and thus saving money. But that’s not all. By outsourcing certain tasks usually assigned to paralegals, attorneys and other professionals to experts based overseas has allowed legal departments to upscale in a cost-effective manner.
No Win No Fee
We have seen this form of legal representation take hold of our televisions in recent years. Adverts with scripting that follows some form of “have you been injured at work” have exploded, and that is for good reason. Just ask John Medler, and he will tell you the reason for this sudden increase in personal injury claims is because more and more rules and regulations are coming into force. Employers are having to do more on the front of health and safety in the workplace, and that inevitably means there are more areas where victims can claim compensation.
Law firms, and professionals who work within the legal sphere, now have everything they need to work from wherever they want. There are super smartphones, incredible rates of connectivity, power software and secure web-based technologies, all of which means legal professionals can set-up shop from their homes and create what can only be described as a virtual law office. The reason why this form of practicing law is gaining so much traction is because of the benefits it offers. The recession saw a lot of law firm cut a lot of jobs, and that has seen employees in these big firms working longer hours in order to prove their worth. Virtual law firms allow lawyers to choose their hours and thus obtain a far more preferable work-life balance. And understandably so.
Even though this form of billing clients has been around for centuries, it is a system destined for decline. Why? Because it is a system that promotes and benefits inefficiency, and that isn’t attractive to prospective customers. Not when you compare it to systems that operated fixed, flat, capped or blended systems of billing.