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Whereas 2020 ended with a newfound sense of the possible, 2021 ends with us still not knowing what is ahead, and therefore which way to turn. Whereas 2020 ended with great promise for regulatory reform, 2021 ends with little further progress on that front – and even retreats to some extent. I should be more optimistic.
What We Learned in 2021. In December 2021, Dave Ries, a frequent co-presenter with the authors, wrote an excellent summary of the cybersecurity portion of the ABA’s 2021 Legal Technology Survey Report. Here’s what else the ABA’s data tells us — and what’s concerning — about lawfirm cybersecurity trends.
Articles and Columns for October 2021 Is Remote Work a Thing Now? – Heather Grey-Grant is a business strategist, marketing expert and executive coach who works primarily with small to medium sized lawfirms.
With this in mind, we wanted to know what health and wellness trends we can expect to see in 2021. In 2021, expect improved on-demand libraries of classes and more live-streaming sessions, some with social features. A wellness trend for 2021 is taking time for a digital detox. Five Health and Wellness Trends to Try.
Sooner or later, every lawyer in solo or small firm practice asks themselves whether they should create a lawfirm website — or how long they can put it off. Maybe you have started by claiming a free Google business profile for your lawfirm and using social media to connect with potential clients.
Lawfirm marketing is the practice of attracting new potential clients to your firm. A lawfirm marketing plan may cover a mix of digital marketing, SEO, blogging, print, and digital ads. Marketing your legal services is integral to the growth and success of your lawfirm. Do lawyers need marketing?
Depending on your point of view, there’s either lots new or “not so much” new with lawfirm ownership. In a nutshell, it says that lawyers must own lawfirms. New Developments in LawFirm Ownership. Australia and the United Kingdom already permit outside ownership of lawfirms.
Advisory firm CEB estimates that the percentage is 40%. Small lawfirms are not immune to this trend. How many lawfirm services are in the cloud, especially today? Often, they think the evasion of the policy is good for the lawfirm, that it allows for better solutions. The likely answer is no.
Since launching to the legal market in 2021, the matter management platform Dashboard Legal has built a loyal following among lawfirm associates, who find it a superior alternative to updating and circulating checklists in Microsoft Word or Excel, says founder and CEO Mat Rotenberg.
Smokeball has an unusual name, to be sure; but, it actually comes from a famous legal case , which just about every substantive law-loving attorney can appreciate. (I Smokeball was founded in 2010 and has been adding useful features for lawfirms ever since. I love the smell of precedent in the morning.)
If there has been one constant about the qualifications to own an American lawfirm, it has been this–you must be a lawyer. jurisdictions for decades has been that non-lawyers cannot own lawfirms. Whether or not you are an attorney, running a lawfirm is a huge challenge, but the right software can help.
lawfirms have made little progress towards achieving greater diversity, with only minimal gains over the last seven years, according to a new analysis by Law360 Pulse. More strikingly, in the seven years since 2014, the percentage of minority attorneys in lawfirms rose just four points, from 14.1% of equity partners.
You can look at] small data, I mean think about it, you’ve got a corpus of information in your lawfirm through which you can measure your clients and your staff and the activity of those two groups. Smart lawfirms are motivated to track effectively because if you want to get paid you want to track your financial information.
Articles and Columns for November 2021 Listening to the Client – In over 30 years of working with lawfirms on improving productivity and profitability Heather Gray-Grant has seen countless marketplace surveys on the incredible value of client feedback mechanisms.
Here’s how to turn lawfirm hiring and retention challenges to your advantage. A late 2021 survey by McKinsey & Company found 40% of employees in the U.S. Lawfirms are no exception. As Lawyers Seek Greener Pastures, Talent Retention Becomes LawFirms’ Top Concern. Flip the Script on Geography.
Think Again About the Cybersecurity Risks of Small LawFirms. It is astonishing how often small lawfirms tell us that they are too small to be at serious risk for cyberattacks. Nevertheless, there are plenty of publicly known small firm breaches. Why Are Small Firms at Great Risk?
These are among the topics that listeners found most interesting during 2021, based on their downloads of LawNext episodes. Notably, the most-downloaded episode featured a discussion of how law schools should teach tech, with April G. An important note about this ranking: These rankings reflect unique downloads during 2021 only.
COVID was not kind to lawfirm marketing and business development, with two-thirds of firms reporting that business development was more difficult in 2020, and the overwhelming majority of firms pivoting their marketing strategies, turning from live conferences and face-to-face meetings to social media, email alerts and Zoom.
Lawfirms are one-stop shopping for cybercriminals, alluring because they hold the data of many people and businesses. The average ransom paid at the beginning of 2021 was $118,000 – by the end of the year, it rose to $322,000. The post Ransomware Today: Top Tips for LawFirms appeared first on Attorney at Work.
Law Department (Friday, Nov. LawFirm (Monday, Nov. Lauren Sturdivant , founder, Rising Tide Law. Jennifer Mendez , director of knowledge management innovation, Fisher Phillips. David Wang , chief innovation officer, Wilson Sonsini. Startup Legal Garage. Fisher Phillips. Startup (Tuesday, Nov.
The lawyer ranking and review company Best Lawyers has acquired Good2bSocial , a digital marketing agency that specializes in serving lawfirms, legal marketers, lawyers and organizations in the legal industry. In 2021, the private equity firm Abry Partners acquired Best Lawyers.
Seven times since 2016, Thomson Reuters has conducted a survey on the state of small lawfirms in the U.S., and every time, it found that small firms had made virtually no progress on one of their greatest challenges, which is that they spend too much time on administrative tasks to the exclusion of practicing law.
E-signatures had a market share of $3 billion in 2021. billion by 2029, your lawfirm needs to get on board—and sooner rather than later. Along with e-signatures, secure file-sharing is a… Read More » 7 Ways to Implement File-Sharing and E-Signatures at Your LawFirm.
Were you a little surprised that you had to write yet another check for 2021 taxes? Here is what you need to know about lawfirm profits. How Should You Divide Your LawFirm Profits? I ran my family’s lawfirm before I started my company — I was basically the CFO. Paying Out LawFirm Profits.
In 2021, the legal tech market generated revenues of $27.6 In recent years, lawfirms turned to private legal cloud technology for enhanced safety and security. Why are LawFirms Embracing Private Cloud Technology? billion USD worldwide, with the market forecast to grow at a CAGR of over 4% by 2027. billion USD.
Awards will be given in eight categories: access to justice, court, enterprise, individual, technology, law department, lawfirm, and startup. Nominations open today for the second annual American Legal Technology Awards , a competition launched last year to honor exceptional achievements in legal technology.
Nextpoint recently became the first e-discovery company to launch a lawfirm , launching Nextpoint Law Group in Arizona under that state’s liberalized practice rules that allow non-lawyers to own law practices. Founded in 2001, the company had been bootstrapped until 2021.
It’s also an important metric for lawfirm owners to track —especially if you want to grow your firm and improve your profitability. But how do you know if your lawfirm’s revenue is enough to grow and scale your business? And how does your firm’s revenue stack up against the average lawfirm revenue?
The International Legal Technology Association today announced the winners of its 2021 Distinguished Peer Awards , which honor achievements in leadership and innovation by individuals, legal technology vendors, lawfirms, corporate legal departments, and others. McKenzie Mayer, Customer Success Manager, NetDocuments.
Justis, powered by OpenAI’s GPT-4, was able to have a natural conversation with Greg and provide insightful perspectives on the use of generative AI in the legal industry, specifically in lawfirms. While many lawfirm leaders recognize its potential, some are unsure of how it fits into legal work or worry about risks.
It is the platform on which the lawfirm Ogletree Deakins built its ODConnect 2.0 intranet, which last week was named Transformative Project of the Year in the International Legal Technology Association’s 2021 Distinguished Peer Awards. Each office in a firm can have a unique page with information tailored to the location.
The legal technology company Litera today announced the winners of The Changing Lawyer awards for 2021, which recognize individuals, firms, and companies in the legal industry for their role in embracing and driving change through new technology, service models, or behavior across five different categories. LawFirm of the Year.
AltFee Elevator Pitch: AltFee revolutionizes lawfirm pricing by offering a foundation for alternative fee structures. This system empowers firms to precisely assess and assign value to projects, vital in a landscape where AI/efficiency gains drastically shorten task timelines. We have small and midsize lawfirm customers.
Whether they work in lawfirms or corporate legal, academia or government, law librarians play a central role in testing, recommending and deploying legal technology, according to the American Association of Law Libraries’ 2023 State of the Profession report, an exhaustive 252-page survey of the legal information landscape.
In what is clearly a major milestone for Milestones , a legal tech company whose product provides lawfirm clients with automatic updates on their cases, it has closed a $2.1 The company, founded in 2021, had previously raised $500,000 in pre-seed funding.
LAWCLERK , an online marketplace where attorneys and lawfirms can hire freelance lawyers and virtual associates, is expanding its hiring options today with the launch of its Hourly Associate program, designed to allow lawfirms to hire freelancers on a more-flexible hourly basis rather than by a discrete project or longer-term subscription. .
When you notice that there is a lack of representation in a certain practice area, are changing the direction of your lawfirm, or simply branching out into a new practice area, its important that you take the time to consider how youll brand this new career move. You might try press releases and social media posts as well.
The unstable economy and a tighter legal market have not caused lawfirms to pull back on billing rates. To the contrary lawfirm partner billing rates rose faster last year than they have in a decade. in 2021 and 3.5% Average rate increases were up compared to 2021 in all lawfirm tiers and practice areas.
And if clients refuse to pay for humans to handle routine work, what will that mean to a lawfirms bottom line? Weve heard all of the fears about GenAIs use in the practice of law. Imagine a world in which a lawfirm has figured out a way to use GenAI to do simple tasks quickly and well. We dont think so.
This brings the company’s total funding since its founding in 2021 to nearly $8 million. Clearbrief, a legal technology company that uses AI to help lawyers find and insert facts to support their legal writing, has raised an additional funding round of approximately $4 million.
A legal industry report released today by the sibling legal technology companies LawPay and MyCase provides unique insights into the technology tools that matter most to smaller lawfirms in the post-pandemic era. Other types of cloud software used by firms: Calendar management software, 44%. Firms Ready for Remote Work.
Lawfirms eagerly invested in the metaverse in 2021 and 2022. But since then, high costs to entry are keeping the audience for such virtual services stagnant.
We discussed Clio’s greater focus on midsized lawfirms, its impending launch of generative AI, its roll-out of features for legal aid providers, and its rebranding of its Lawyaw document automation software. That’s the superpower we have,” he said.
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