The Legal Landscape Shifts: Cleary Gottlieb Abandons Single-Tier Partnership
Source: Adam Smith Esq, Bruce In a move that signals the end of an era, Cleary Gottlieb has officially abandoned its single-tier partnership structure, embracing the two-tier model that now dominates Big Law. This decision, announced on October 15, 2024, leaves only a dozen single-tier firms in the AmLaw 200, a stark contrast to the […]
Crafting an Effective Supplier Contracting Policy: A Blueprint for Legal Teams
Source: Crafty Fox As organisations grow, implementing a robust supplier contracting policy becomes crucial for legal teams to manage operational risk and allocate resources efficiently. Chris Bridges, Partner & COO at Tacit Legal, outlines five essential ingredients for a successful policy. The foundation begins with clearly defining which contracts fall within the policy’s scope, often […]
Unlocking Cost Savings: The Cloud Revolution in LegalTech
Source: Legalfuture The legal industry is witnessing a paradigm shift in technology infrastructure, with cloud migration emerging as a cost-saving powerhouse for forward-thinking firms. A recent analysis reveals that the hidden costs of on-premises systems often outweigh their perceived benefits, making cloud solutions increasingly attractive. At the core of this transition is the elimination of […]
Considering Ethics when using AI in Law
Source: Crafty Counsel Andy Cooke, General Counsel at TravelPerk, delivered a key insight about the integration of data and AI in legal departments: AI alone won’t take your job, but a lawyer who understands AI will. His message underscored a vital point—embracing AI doesn’t just enhance efficiency but redefines how legal teams operate. Yet, as […]
Balancing Act: Human Expertise and AI in the Future of Law
As artificial intelligence (AI) rapidly transforms the UK legal sector, firms are striving to integrate this powerful technology while maintaining the irreplaceable value of human expertise. The recent LexisNexis survey highlights this balancing act, revealing both enthusiasm for AI adoption and concerns about its impact on traditional legal practice. Laura Hodgson of Linklaters notes that […]
The AI Revolution in Legal Services: Faster Delivery and Shifting Paradigms
Source: LexisNexis The UK legal sector is experiencing a dramatic shift towards artificial intelligence (AI), with a LexisNexis survey revealing AI usage among lawyers has surged from 11% in July 2023 to 41% in September 2024. This rapid adoption is reshaping legal service delivery, prioritising speed and efficiency to meet escalating client demands. Jonathan Kewley […]
AI in Law: The Rapid Rise and Uncertain Future of Legal Fees
Source: LegalFutures The adoption of artificial intelligence (AI) among lawyers is accelerating rapidly, but its impact on traditional fee structures remains uncertain. According to a recent LexisNexis report titled Fast Law: Why Speed is the Priority for Lawyers Using AI, four out of five lawyers are currently using or planning to use AI tools. This […]
The Future of Legal Pricing: Can AI Finally Disrupt the Billable Hour?
Source: Bruce MacEwen & Janet Stanton of Adam Smith Esq. For over half a century, the billable hour has been the dominant pricing structure in legal services, despite mounting criticism. Key objections have centred around its misalignment with client interests, arbitrary rate-setting, and lack of correlation between time spent and value delivered. Clients often desire […]
How Legal Tech Is Driving Cost Savings in Corporate Legal Departments
Source: CLOC Legal technology has become essential for corporate legal departments aiming to optimize their spending and drive efficiency. According to a Legaltech report, legal departments increasingly see tech solutions as critical to achieving these goals, with 78% of them labelling legal technology as a “must-have.” As businesses strive to become leaner, legal technology is […]
Unleashing the Legal Department’s True Value: From Cost Center to Business Catalyst
Source: Forbes The legal function’s contribution to a business often goes unrecognised, limited by a narrow focus on cost and internal efficiency. Traditionally seen as a cost centre, the true potential of legal departments is far greater when measured by customer-centric and enterprise-aligned metrics. By applying the right business metrics, legal can become a proactive […]