Not exact matches
While the economy is slowly limping back to health, the
demand for legal services is predicted to
remain flat and jobs are unlikely to return to pre-recession levels in the near future.
A large number of respondents maintained that a core
legal and technology understanding would always
remain in
demand, but that
for more specialized skills, including statistics, project management and data privacy processes,
service provider partners would augment the company's skill sets.
While like Tiffany's, large firms will always
remain in
demand for special - occasion, bet - the - company types of
legal services, Lamb believes that there's still a
demand in the market
for the 47th Street law firms as well.
It
remains to be seen whether contract lawyering will become a viable proposition
for a larger number of law firms and contract lawyers alike going forward, given that — by its very nature — the
demand for contract
legal services is unpredictable.
Although the
demand for legal services picked up somewhat since the end of the recession, especially in transactional areas of practice, firms
remain conservative in their partnership decisions.
A survey released yesterday on the business of law and
legal technology finds that competition
for legal services remains high,
demand remains relatively flat, and law firms are feeling pressure to lower prices and enhance operational efficiency.
Confidence in
demand for legal services was also down slightly — from 147 in the first quarter to 144 in the second — but still
remained the area in which managing partners expressed the most positive outlook.
Though managing partners
remain relatively upbeat about the
demand for legal services, concerns about the health of the broader economy are making them a bit more pessimistic about their business than they were earlier in the year.
It also perhaps indicates that client
demand for machine learning systems that can provide efficiencies in terms of time and accuracy are not just being
demanded by the largest global companies based in the UK capital, but now across the country, which
remains the world's second largest
legal market after the giant US market
for legal services.
The Access
Legal Care «system» is based on 12 key components: 1) be profitable for the attorneys and legal - services providers; 2) apply the Pareto principle — focus on the 20 % of all legal services that 80 % of lower - and moderate - income people will likely ever need; then prune / refer - out those that are high - complexity / high - dollar (too risky) and contingency cases (already affordable); 3) process - map the remaining services into individual steps; 4) functionally - decompose each process step to the lowest - cost provider who can perform the step legally and with excellence; 5) streamline processes with Six Sigma and manufacturing principles; 6) centralize operations for economies of scale; 7) collaborate and out - source to expand reach; 8) leverage technology to minimize costs and maximize productivity; 9) make affordable with both terms and price; 10) generate high demand, high - volume; 11) develop multiple revenue streams; and 12) package up the system and re-sell it to other law firms and cli
Legal Care «system» is based on 12 key components: 1) be profitable
for the attorneys and
legal - services providers; 2) apply the Pareto principle — focus on the 20 % of all legal services that 80 % of lower - and moderate - income people will likely ever need; then prune / refer - out those that are high - complexity / high - dollar (too risky) and contingency cases (already affordable); 3) process - map the remaining services into individual steps; 4) functionally - decompose each process step to the lowest - cost provider who can perform the step legally and with excellence; 5) streamline processes with Six Sigma and manufacturing principles; 6) centralize operations for economies of scale; 7) collaborate and out - source to expand reach; 8) leverage technology to minimize costs and maximize productivity; 9) make affordable with both terms and price; 10) generate high demand, high - volume; 11) develop multiple revenue streams; and 12) package up the system and re-sell it to other law firms and cli
legal -
services providers; 2) apply the Pareto principle — focus on the 20 % of all
legal services that 80 % of lower - and moderate - income people will likely ever need; then prune / refer - out those that are high - complexity / high - dollar (too risky) and contingency cases (already affordable); 3) process - map the remaining services into individual steps; 4) functionally - decompose each process step to the lowest - cost provider who can perform the step legally and with excellence; 5) streamline processes with Six Sigma and manufacturing principles; 6) centralize operations for economies of scale; 7) collaborate and out - source to expand reach; 8) leverage technology to minimize costs and maximize productivity; 9) make affordable with both terms and price; 10) generate high demand, high - volume; 11) develop multiple revenue streams; and 12) package up the system and re-sell it to other law firms and cli
legal services that 80 % of lower - and moderate - income people will likely ever need; then prune / refer - out those that are high - complexity / high - dollar (too risky) and contingency cases (already affordable); 3) process - map the
remaining services into individual steps; 4) functionally - decompose each process step to the lowest - cost provider who can perform the step legally and with excellence; 5) streamline processes with Six Sigma and manufacturing principles; 6) centralize operations
for economies of scale; 7) collaborate and out - source to expand reach; 8) leverage technology to minimize costs and maximize productivity; 9) make affordable with both terms and price; 10) generate high
demand, high - volume; 11) develop multiple revenue streams; and 12) package up the system and re-sell it to other law firms and clinics.
But in recent years, the growth in
demand for legal services has
remained mostly stagnant, making revenue growth tough to come by.