The term “law new” is often used to refer to a practice or business model that delivers legal services differently. It may involve a different delivery process, a non-traditional form of fee structure or a distinct approach to a particular legal matter. It is also sometimes used to describe a legal service provider that augments the work of a law firm and is overseen by a separate leadership team.
The definition of “law new” varies widely, as does the practical application of the concept. However, all of these approaches have one thing in common: they serve to make law more efficient for clients. This is an important goal because the cost of providing legal help is a major concern in the industry. Fortunately, the law new movement offers some solutions that can help to alleviate these concerns and ultimately save money for firms.
As the law new movement continues to evolve, it is becoming clear that it will eventually encompass a wide range of services and processes. As a result, legal buyers and society will be exposed to an increasingly diverse and innovative array of options.
For example, the legal industry of the future will more closely resemble its corporate customers and society at large. It will be more holistically diverse in cognitive, demographic and cultural terms. It will have a multidisciplinary workforce that is creative, tech and data proficient and empathetic. This workforce will be able to collaborate effectively across the enterprise and with cross-functional colleagues in all industries to provide accessible, affordable, on-demand, scalable, risk-sharing, law-making and opportunity capturing legal products and services that support business and social needs.
In addition, the legal industry of the future will embrace a culture of innovation. This will include embracing the use of artificial intelligence and other tools to enhance human performance. It will also allow legal professionals to focus on the most complex issues and to provide higher quality legal services at a lower cost.
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