The changing legal terrain
The legal sector has often been criticized for its resistance to change. But today, relationships between clients and lawyers have shifted and a new model where clients have more control and influence is evolving.
This shift is driven very much by the commercial context in which legal firms’ clients are working. Lawyers must recognize they are but part of the broader business models in which their clients operate.
This is true, whether the client be General Counsel or senior management, non-executive directors, investors or government agencies. All need to ensure their legal advice and litigation are not only successful but also accord with their broader risk management strategies and withstand financial scrutiny.
Within the legal sector itself, traditional time-costing - with little regard to efficiencies or outcomes – is under challenge by a “new law” style of practice. This new approach is based on value-billing and ensuring greater productivity in the use of legal resources.