Law firms are changing for good. This weekend in New York a new book on the so-called “NewLaw” launches to discuss how the rules for how law firms operate will change forever.
Australian consultant, writer, speaker and associate professor George Beaton, a partner in Beaton Capital, generated his ebook after writing a blog post about law firm changes and the challenges facing traditional law firms, which generated over 40,000 words within two months.
And out of that cameNewLaw New Rules
NewLaw New Rules is a world first as a new genre of thread book and the first to explain why the business model of most of the world’s traditional law firms is in trouble. NewLaw New Rules a new e-book that graphically describes how the game is changing for law firms.
Authored by 35 contributors from six countries and curated by Dr George Beaton, NewLaw New Rules has already been described a “must read” for all law firm leaders and partners, law school academics and students, regulators and law society executives.
Contributors include Andrew Grech (Slater & Gordon), Peter Kalis (Chairman and Global Managing Partner of K&L Gates), Richard Susskind OBE (author of Tomorrow’s Lawyers), Ken Jagger (CEO of AdventBalance), Trish Hyde (CEO of Australian Corporate Lawyers Association), Karl Chapman (Riverview Law) and Ken Grady (CEO of SeyfarthLean).
Writing in the Foreword, Professor Richard Susskind had this to say: “Never, in the history of the legal blogosphere, have so many innovators, disruptors, gurus, and rebels assembled in one shared space. In the best spirit of peer production, with echoes too of rapid-fire Socratic exchange, the contributors have co-created an e-book that asks and to a large extent answers the key strategic questions that all law firm leaders must now be invited to address. This is mandatory reading for anyone who is interested in legal businesses of the future.”
The seven chapters cover the changing legal services industry landscape and how the business model of large law firms (styled BigLaw in the book) is now being severely tested with the profit per partner of most firms expected to continue to fall. In a first, NewLaw New Rules shows how the emergence of NewLaw firms (of which there are at least seven major categories, each with business models different from BigLaw) is changing the game – and adversely affecting BigLaw big time.
For the first time, how the new styles of legal services providers fundamentally differ from traditional law firms has been explained. And why this is so important for clients, the community and law firms is set out in a gripping original way. There is also a very useful compilation of example of NewLaw firms that complements the first-ever published typology of NewLaw firms.
Richard Susskind again: “Dr George Beaton is to be warmly congratulated for hosting and generating such a lively and informed conversation about tomorrow’s law firms.”
Check out the “NewLaw”