/blog/Future of LawStudentsNewsBlogs-Navigation urn:uuid:5836fe29-3991-4254-ad29-cac6c3e3ffbe/blog/future-of-law/weighing-the-pros-cons-of-ai-for-lawyersFuture of LawMuch is spoken about the risks and rewards of AI in the practice of the law. We look at the data and leading opinions.Wed, 23 Oct 2024 23:00:00 Z<div>The rapid adoption of artificial intelligence (AI) in the legal sector has ushered in a new era of efficiency and innovation. However, as with any transformative technology, there are inherent risks that must be carefully navigated. This blog explores the potential risks associated with AI in the legal profession, while also highlighting the significant benefits and strategies for mitigating risks through human oversight and responsible implementation.</div><div><p><span style="background-color:transparent;color:inherit;font-family:inherit;font-size:var(--font-size-h4);font-weight:bold;text-align:inherit;text-transform:inherit;word-spacing:normal;caret-color:auto;white-space:inherit;">&nbsp;</span></p><h4><span style="background-color:transparent;color:inherit;font-family:inherit;font-size:var(--font-size-h4);font-weight:bold;text-align:inherit;text-transform:inherit;word-spacing:normal;caret-color:auto;white-space:inherit;">Mitigating the risks of AI</span><br></h4></div><div><p><span style="background-color:transparent;color:inherit;font-family:inherit;font-size:inherit;text-align:inherit;text-transform:inherit;word-spacing:normal;caret-color:auto;white-space:inherit;">While AI offers numerous advantages, it is crucial to address the potential risks and concerns that accompany its use in the legal field. One of the primary concerns is the risk of inaccurate or fabricated information, also known as "hallucinations." As the survey revealed, three-quarters (76%) of UK legal professionals are concerned about this issue when using public-access generative AI platforms.</span></p><p><a href="/legal/guidance/how-to-manage-the-risks-of-artificial-intelligence-in-your-business" data-sf-ec-immutable="">How to manage the risks of AI in your business</a></p></div><div><p><a href="/research-and-reports/generative-ai-survey-h2-2024.html" target="_blank" data-sf-ec-immutable=""></a></p></div><div><p>"The most important element of our approach, however, is the 'lawyer in the loop' principle and human centered legal AI," says Gerrit Beckhaus, Partner and Co-head of the Freshfields Lab at Freshfields Bruckhaus Deringer. </p><p><a href="/legal/guidance/can-the-use-of-generative-ai-lead-to-trade-mark-infringement-what-steps-can-brand-owners-take-to" target="_blank" data-sf-ec-immutable="">Can the use of generative AI lead to trade mark infringement?</a></p></div><div><p>Dr. Katy Peters, Law Lecturer and Programme Lead for LLM in Professional Legal Practice from the University of Surrey, emphasises the importance of human oversight: </p><p>"Whilst it may no longer be necessary to spend hours in a library or searching an online database, it will still be necessary to create appropriate prompts, review responses, adapt templates and challenge discrepancies." </p><p><a href="/legal/guidance/artificial-intelligence-explainability" target="_blank" data-sf-ec-immutable="">I want to learn about AI and the need for explainability</a> </p></div><div><p><span style="background-color:initial;font-size:inherit;font-family:inherit;text-align:inherit;text-transform:inherit;word-spacing:normal;caret-color:auto;white-space:inherit;">To address these concerns, the survey found that three-quarters (72%) of lawyers would feel more confident using a generative AI tool grounded in legal content sources with linked citations to ve</span></p></div>urn:uuid:20c53dc5-8f68-4ea6-8fd2-f9e5b888f66a/blog/future-of-law/how-to-encourage-your-legal-team-to-pick-up-aiFuture of LawPart of investing in AI is proving its commercial value. Here's how to encourage adoption in firms and legal teams.Wed, 16 Oct 2024 23:00:00 Z<div><p>AI's potential to streamline legal tasks as resulted in adoption rates jump from 11% (<a href="/research-and-reports/generative-ai-and-the-legal-profession-report.html" target="_blank" data-sf-ec-immutable="">July 2023 survey</a>) to 41% (<a href="/research-and-reports/generative-ai-survey-h2-2024.html" target="_blank" data-sf-ec-immutable="">September 2024 survey</a>) in a little over a year.<span style="background-color:initial;font-size:inherit;font-family:inherit;text-align:inherit;text-transform:inherit;word-spacing:normal;caret-color:auto;white-space:inherit;">&nbsp;Despite the eagerness, it's now up to the leaders of firms and in-house legal departments to encourage widespread adoption and prove the commercial value of this new technology.</span></p><p><a href="/research-and-reports/generative-ai-survey-h2-2024.html" target="_blank" data-sf-ec-immutable=""></a></p><p><span style="background-color:initial;font-size:inherit;font-family:inherit;text-align:inherit;text-transform:inherit;word-spacing:normal;caret-color:auto;white-space:inherit;">This blog explores effective strategies to foster AI adoption within the legal community.</span></p></div><div><br></div><div><h4><strong>Establishing a top-down approach</strong></h4><p><span style="background-color:initial;font-size:inherit;font-family:inherit;text-align:inherit;text-transform:inherit;word-spacing:normal;caret-color:auto;white-space:inherit;">Encouraging AI adoption requires a top-down approach, where leadership plays a pivotal role in promoting and championing the use of AI tools. As Joe Cohen, the Director of Innovation at Charles Russell Speechlys, emphasises, "We have been encouraging all of our staff to use AI. Senior leadership have done a great job of speaking about their own, often daily, use of it."</span></p><p><a href="/legal/precedents/artificial-intelligence-ai-risk-management-board-briefing" data-sf-ec-immutable="">Artificial intelligence (AI) risk management&mdash;board briefing</a></p></div><div><p><span style="background-color:initial;font-size:inherit;font-family:inherit;text-align:inherit;text-transform:inherit;word-spacing:normal;caret-color:auto;white-space:inherit;">By leading by example and actively demonstratin</span><span style="background-color:initial;font-size:inherit;font-family:inherit;text-align:inherit;text-transform:inherit;word-spacing:normal;caret-color:auto;white-space:inherit;">g the benefits of AI in their daily workflows, senior leaders can inspire confidence and encourage adoption among their teams. This top-down approach not only sets the tone but also reinforces the firm's or legal team's commitment to embracing innovative technologies.</span><br></p></div><div><br></div><h4><strong>Comprehensive training and education</strong></h4><div>Providing comprehensive training and education is crucial to fostering AI adoption among lawyers. As Pawel Lipski, a partner at Bird &amp; Bird, notes, "As generative AI tools become better in research and drafting, it may be very challenging for younger colleagues to get proper training. It will certainly not be the kind of training I had."</div><div><br></div><div><p>To address this challenge, law firms and in-house legal teams should develop tailored training programmes that cover the fundamentals of AI technology, its applications in legal practice, and best practices for effective utilisation. These training sessions should be designed to build confidence and equip lawyers wi</p></div>urn:uuid:18236be3-c361-4e5e-8a89-c2e807f1e830/blog/future-of-law/will-ai-change-billing-models-for-law-firmsFuture of LawAs AI continues to increase efficiency, it is causing many to challenge the suitability of the billable hour.Sun, 13 Oct 2024 23:00:00 Z<div><p><span style="background-color:initial;font-family:inherit;font-size:inherit;text-align:inherit;text-transform:inherit;word-spacing:normal;caret-color:auto;white-space:inherit;">For decades, the billable hour has been the cornerstone of law firm pricing models. However, AI is challenging this long-standing tradition. As AI streamlines routine tasks and accelerates legal work, the traditional billable hour model may no longer accurately reflect the value delivered to clients.</span></p><p><span style="background-color:initial;font-family:inherit;font-size:inherit;text-align:inherit;text-transform:inherit;word-spacing:normal;caret-color:auto;white-space:inherit;"></span><span style="background-color:transparent;color:inherit;font-size:inherit;font-family:inherit;text-align:inherit;text-transform:inherit;word-spacing:normal;caret-color:auto;white-space:inherit;">According to a newly published </span><a href="/research-and-reports/generative-ai-survey-h2-2024.html" target="_blank" data-sf-ec-immutable="" style="font-size:inherit;font-family:inherit;text-align:inherit;text-transform:inherit;word-spacing:normal;white-space:inherit;">������Ƶ survey of 800+ UK lawyers</a><span style="background-color:transparent;color:inherit;font-size:inherit;font-family:inherit;text-align:inherit;text-transform:inherit;word-spacing:normal;caret-color:auto;white-space:inherit;">, 39% of private practice lawyers now expect to adjust their billing practices due to AI, up from only 18% in January 2024. This shift is driven by the recognition that AI can significantly reduce the time required to complete certain tasks, potentially rendering the billable hour model obsolete for those activities.</span></p></div><div><a href="/research-and-reports/generative-ai-survey-h2-2024.html" target="_blank" data-sf-ec-immutable=""></a></div><div><br></div><div><p>A General Counsel and Company Secretary at a biotech firm stated, "The billable hour rewards inefficiency. AI removes the excuse of hours spent, so private practice lawyers will have to change the way they measure their contribution."</p><p><span style="background-color:transparent;color:inherit;font-family:inherit;font-size:inherit;text-align:inherit;text-transform:inherit;word-spacing:normal;caret-color:auto;white-space:inherit;">Many firms are exploring alternative pricing models that better align with the value delivered to clients. One such model is value-based billing, which focuses on the outcomes and results achieved rather than the time spent. A law firm partner shared, "AI will push the legal industry towards value-based billing models </span></p></div>urn:uuid:8144326d-3620-406d-9bd4-644b4933a3b9/blog/future-of-law/mitigating-hallucinations-strategies-for-lawyers-to-ensure-accurate-ai-generated-informationFuture of LawDespite the increase in adoption, hallucinations are still the top concerns for lawyers using AI. But there are ways to mitigate risk.Wed, 09 Oct 2024 23:00:00 Z<div><p>Despite the widespread adoption of artificial intelligence (AI) in the legal sector, concerns about the potential for inaccurate or fabricated information, known as "hallucinations" are still widespread. These hallucinations can pose significant risks, particularly in the legal field where accuracy and reliability are paramount. To mitigate these risks, lawyers must adopt proactive strategies to ensure the integrity of AI-generated information.</p></div><div><br></div><div><h4><strong>Grounding AI in authoritative legal sources</strong><span style="background-color:transparent;color:inherit;font-family:inherit;font-size:inherit;text-align:inherit;text-transform:inherit;word-spacing:normal;caret-color:auto;white-space:inherit;"></span></h4><p><span style="background-color:transparent;color:inherit;font-family:inherit;font-size:inherit;text-align:inherit;text-transform:inherit;word-spacing:normal;caret-color:auto;white-space:inherit;"></span><span style="background-color:transparent;color:inherit;font-family:inherit;font-size:inherit;text-align:inherit;text-transform:inherit;word-spacing:normal;caret-color:auto;white-space:inherit;">One of the most effective ways to mitigate hallucinations is to ground AI tools in authoritative legal sources. By leveraging AI systems that are trained on reliable and up-to-date legal databases, such as <a href="/products/lexis-plus-trial.html" target="_blank" data-sf-ec-immutable="">������Ƶ' vast repository of accurate and exclusive legal content</a>, lawyers can significantly reduce the likelihood of encountering fabricated information.</span></p><p><a href="/insights/fast-law-why-speed-is-the-priority-for-lawyers-using-ai/index.html" target="_blank" data-sf-ec-immutable=""></a></p></div><div><p>Gerrit Beckhaus, Partner and Co-head of the Freshfields Lab at Freshfields Bruckhaus Deringer, emphasises the importance of this approach: "The most important element of our approach, is the 'lawyer in the loop' principle and human centered legal AI."</p><p><a href="/legal/precedents/training-materials-artificial-intelligence-ai-in-the-workplace" data-sf-ec-immutable="">Train your staff to use AI safely in the workplace. Download our training presentation</a></p></div><div><h4><strong>Implementing robust verification processes</strong></h4><p><span style="background-color:transparent;color:inherit;font-family:inherit;font-size:inherit;text-align:inherit;text-transform:inherit;word-spacing:normal;caret-color:auto;white-space:inherit;"></span><span style="background-color:transparent;color:inherit;font-family:inherit;font-size:inherit;text-align:inherit;text-transform:inherit;word-spacing:normal;caret-color:auto;white-space:inherit;">While grounding AI in authoritative sources is a crucial first step, it is equally important to implement robust verification processes. This involves critically evaluating AI-generated information, cross-checking against reliable sources, and challenging any discrepancies or inconsistencies.</span></p><p><span style="background-color:transparent;color:inherit;font-family:inherit;font-size:inherit;text-align:inherit;text-transform:inherit;word-spacing:normal;caret-color:auto;white-space:inherit;"></span><span style="background-color:initial;font-family:inherit;font-size:inherit;text-align:inherit;text-transform:inherit;word-spacing:normal;caret-color:auto;white-space:inherit;">Dr. Katy Peters, Law Lecturer and Programme Lead for LLM in Professional Legal Practice from the University of Surrey, underscores the importance of human oversight: "Whilst it may no longer be necessary to spend hours in a library or searching an online database, it will still be necessary to create appropriate prompts, review responses, adapt templates and challenge discrepancies."</span></p><p><span style="background-color:initial;font-family:inherit;font-size:inherit;text-align:inherit;te style=""></span style="background-color:initial;font-family:inherit;font-size:inherit;text-align:inherit;te></p></div>urn:uuid:cc7cdb99-a2d8-44d8-8675-8f463d332371/blog/future-of-law/top-benefits-use-cases-of-ai-for-lawyersFuture of LawA new survey of UK lawyers highlights the top benefits of AI and the top use cases.Sun, 06 Oct 2024 23:00:00 Z<div></div><div><p>The legal profession is witnessing a remarkable surge in the adoption of artificial intelligence (AI) technology. According to a <a href="/research-and-reports/generative-ai-survey-h2-2024.html" target="_blank" data-sf-ec-immutable="">recent ������Ƶ survey</a>, four out of five lawyers (82%) are currently using or have plans to use this cutting-edge technology, signaling a paradigm shift in the industry. This blog explores the top benefits of AI and its key use cases, with a particular focus on legal research and drafting.<a href="/lexis-plus/lexis-plus-ai.html" data-sf-marked="" target="_blank" data-sf-ec-immutable=""></a></p><p><a href="/lexis-plus/lexis-plus-ai.html" data-sf-marked="" target="_blank" data-sf-ec-immutable=""><em>Find out how AI can speed up legal research and drafting.</em></a></p><p><em>&nbsp;</em></p></div><h4><strong>Top benefits of AI in legal research and drafting:</strong></h4><p>&nbsp;</p><div><br></div><h4><strong>1. Accelerated legal research:</strong></h4><div><p>AI-powered legal research tools can quickly sift through vast amounts of data, identifying relevant cases, statutes, and legal precedents with unprecedented speed and accuracy. As Gerrit Beckhaus, Partner and Co-head of the Freshfields Lab at Freshfields Bruckhaus Deringer, states, "Generative AI not only retrieves information but contextualises it, connecting disparate pieces of data and our knowledge pool." This not only saves valuable time but also ensures that no critical information is overlooked, leading to more comprehensive and well-informed legal strategies.</p><p>&nbsp;</p></div><div><br></div><h4><strong>2. Efficient document review and analysis:</strong></h4><div><p>Traditionally, document review and analysis have been time-consuming and labour-intensive tasks. AI technology can rapidly analyse and extract key information from legal documents, contracts, and case files, enabling lawyers to focus on higher-level tasks and strategic decision-making. According to Bhavisa Patel, Director of Legal Technology at Eversheds Sutherland, "Activities such as legal research, document review, and contract analysis will become simpler and quicker, allowing lawyers to concentrate on complex and strategic work."</p><p>&nbsp;</p></div><a href="/research-and-reports/generative-ai-survey-h2-2024.html" target="_blank" data-sf-ec-immutable=""></a><div><br></div><h4><strong>3. Enhanced drafting capabilities:</strong></h4><div><p>AI-driven drafting tools can assist lawyers in creating accurate and consistent legal documents, such as contracts, pleadings, and briefs. By leveraging natural language processing and machine learning algorithms, these tools can suggest relevant clauses, identify potential inconsistencies, and ensure compliance with legal standards and industry best practices. As a partner at a law firm with 100+ fee-earners shared, "Generative AI is streamlining my legal research and drafting processes, allowing for faster turnaround times and more comprehensive analysis."</p><p>&nbsp;</p></div><div><br></div><h4><st></st></h4>urn:uuid:0cbfdc22-0d32-4392-8976-d47ccb7207e5/blog/future-of-law/firms-hope-ai-will-drive-faster-delivery-of-legal-servicesFuture of LawAI stirs demand for faster legal service delivery from law firms, but will it reshape pricing models?Wed, 02 Oct 2024 23:00:00 Z<div><span style="background-color:initial;font-size:inherit;font-family:inherit;text-align:inherit;text-transform:inherit;word-spacing:normal;caret-color:auto;white-space:inherit;"></span><span style="background-color:initial;font-family:inherit;font-size:inherit;text-align:inherit;text-transform:inherit;word-spacing:normal;caret-color:auto;white-space:inherit;"></span></div><div><p>Clients are increasingly demanding faster and more efficient legal solutions. As a result, the UK legal sector is turning to cutting-edge technology to meet these expectations - most notably, generative AI. </p><p>The <a href="/research-and-reports/generative-ai-survey-h2-2024.html" target="_blank" data-sf-ec-immutable="">recent surge in AI adoption among lawyers</a> is not only transforming the way legal work is conducted but also paving the way for faster and more streamlined service delivery.</p></div><div><br></div><h4><strong>The demand for faster legal services</strong> </h4><div><p>Clients and internal stakeholders alike are no longer willing to wait for prolonged turnaround times. Whether it's drafting contracts, conducting legal research, or reviewing documents, the need for speed and efficiency has become paramount. This shift in expectations has prompted law firms and in-house legal teams to seek innovative solutions that can accelerate their processes without compromising quality.</p></div><div><p><a href="/legal/guidance/artificial-intelligence-explainability" target="_blank" data-sf-ec-immutable=""><em>I want to read practice notes on AI and the need for explainability</em></a></p></div><div><br></div><div><p>Enter generative AI, a game-changing technology that has is already revolutionising the legal industry. By leveraging advanced natural language processing and machine learning capabilities, AI tools can streamline routine tasks, freeing up lawyers to focus on more complex and strategic work. From legal research and document analysis to contract drafting and due diligence, AI is proving to be an invaluable asset in delivering faster and more efficient legal services.</p><p><span style="background-color:transparent;color:inherit;font-family:inherit;font-size:inherit;text-align:inherit;text-transform:inherit;word-spacing:normal;caret-color:auto;white-space:inherit;">One of the key advantages of AI adoption is its ability to enhance productivity and accuracy. By automating repetitive and time-consuming tasks, lawyers can significantly reduce the time spent on administrative work, allowing them to focus on higher-value activities that require human expertise and judgment. Additionally, AI-powered tools can quickly identify patterns, inconsistencies, and potential risks, ensuring a more thorough and accurate analysis of legal documents and cases.</span></p></div><div><p><a href="/legal/precedents/training-materials-artificial-intelligence-ai-in-the-workplace" target="_blank" data-sf-ec-immutable=""><em>Training materials on AI in the workplace</em></a></p><p>&nbsp;</p></div><h4><strong>Competitive advantage through faster delivery</strong></h4><div><p>In the competitive legal landscape, the ability to deliver faster and more efficient services can be a significant differentiator. Law firms and in-house legal teams that embrace AI technology are better </p></div>urn:uuid:bda69a25-9650-45a9-b3af-d53f490053a3/blog/future-of-law/mastering-countervailing-measures-protecting-uk-industries-from-subsidised-importsFuture of LawHere we share a summary of our webinar exploring strategies on how the UK industry may protect itself from subsidised imports entering the UK. This is the second instalment of our three-part webinar series on trade remedies.Tue, 01 Oct 2024 07:51:25 Z<p>We recently hosted the second instalment of our three-part series on trade remedies. This webinar explored strategies on how the UK industry may protect itself from subsidised imports entering the UK.</p><p>The webinar was hosted by Rian Geldenhuys who looks after the ������Ƶ International Trade content. Two expert panellists, Dr Bregt Natens, counsel in the International Commercial &amp; Trade Practice Group at Baker McKenzie and Raheel Shahid, a solicitor with the UK&rsquo;s Trade Remedies Authority provided key insights in obtaining protection from subsidised imports. </p><p>Dr. Natens shared his experience assisting industries in applying for protection against subsidised imports, while Mr. Shahid offered insights into the Trade Remedies Authority's considerations when receiving such applications. The webinar provided a comprehensive understanding of the strategies and processes involved in safeguarding UK industries from unfair trade practices.</p><p>You can&nbsp;<a href="https://www.youtube.com/watch?v=ACuoQ0aXvdk&amp;t=28s" target="_blank" data-sf-ec-immutable="">watch the full webinar here</a>&nbsp;or read on for the key insights from the session.<strong></strong></p><h4>Subsidies involves some investigation</h4><p>Unlike in dumping where an applicant would somewhat easily be able to gather the required information to prove dumping, subsidies require further investigation. This is due to the fact that one needs to prove four elements to show that a subsidy does exist namely that:</p><ul><li>It is a financial contribution;</li><li>By a government (or entity authorised by government);</li><li>Which confer a benefit on the recipient; and</li><li>Is specific. </li></ul><p>To prove the existence of a subsidy, an applicant will have to carry out research on the legislation, regulation or policy authorizing the subsidy. This involves analysing media reports, company or industry specific press releases, and leveraging subsidy investigations conducted by other countries investigation authorities, which often serve as a crucial resource. </p><p><em><a href="/legal/international-trade/subsidies-countervailing-measures" data-sf-ec-immutable="">View international trade practice notes, precedents and news articles</a></em><br></p><h4>Planning for protection is key</h4><p>Proving the existence of a subsidy is one part of the requirements to obtain protection. The applicant must also demonstrate injury as a result of the subsidised imports. In this regard, it is crucial to plan ahead for when protection is required. Significant </p>urn:uuid:2956ca43-0e28-4865-be45-fdac98ff6aeb/blog/future-of-law/reshaping-the-legal-landscapeFuture of LawDiscover how law firms are adapting to new technologies, client expectations, and regulatory changes to thrive in a dynamic legal environment.Sun, 29 Sep 2024 23:00:00 Z<div><p><span style="background-color:initial;font-family:inherit;font-size:inherit;text-align:inherit;text-transform:inherit;word-spacing:normal;caret-color:auto;white-space:inherit;">AI adoption in the legal sector is accelerating at breakneck speed. A <a href="/research-and-reports/generative-ai-survey-h2-2024.html" target="_blank" data-sf-ec-immutable="">recent report by ������Ƶ</a> found a staggering 82% of UK lawyers have either embraced generative AI or have plans to do so in the near future. This figure represents a nearly four-fold increase from the summer of 2023, when only a fraction of legal professionals had adopted this transformative technology.</span></p><p><a href="/research-and-reports/generative-ai-survey-h2-2024.html" target="_blank" data-sf-ec-immutable=""></a></p><p>&nbsp;</p></div><div><strong>The demand for speed: how AI enhances legal services</strong></div><h4><strong></strong></h4><div><p>The driving force behind this rapid AI adoption is the need for faster delivery of legal services. In an increasingly competitive legal landscape, where clients demand efficiency and expediency, AI has emerged as a powerful tool to streamline processes and expedite turnaround times. The report reveals that a remarkable 71% of <a href="[f669d9a7-009d-4d83-ddaa-000000000002]7B419546-9BE7-4547-B040-49D402C6565E/reimagining-what-makes-a-successful-lawyer">lawyers</a> cited faster work delivery as a key benefit of AI, with 52% identifying it as the primary advantage.</p><p><a href="/research-and-reports/generative-ai-survey-h2-2024.html" target="_blank" data-sf-ec-immutable=""></a></p></div><div><br></div><div><p>"The kind of applications we're seeing &ndash; the way it's been rolled out, the innovation, the investment &ndash; it's off the scale," says Jonathan Kewley, Partner and Co-Chair of the Global Tech Group at Clifford Chance. "It's important that lawyers are familiar with AI technology in the same way they are with the internet now. Those that don't use it will face a bit of an existential risk."</p><p><a href="/lexis-plus/lexis-plus-ai.html" target="_blank" data-sf-ec-immutable="">How Lexis+ AI speeds up legal research safely</a></p></div><div><p>Beyond speed, the report highlights other significant benefits of <a href="[f669d9a7-009d-4d83-ddaa-000000000002]7B419546-9BE7-4547-B040-49D402C6565E/explore-the-growing-appetite-for-legal-ai">AI </a>adoption, such as improved client service (54%) and gaining a competitive advantage (53%). As clients become more discerning and demanding, AI offers a means to enhance the quality and responsiveness of legal services, ultimately leading to greater client satisfaction.#</p></div><p><strong>The time-saving power of AI in law</strong></p><div><p>The time-saving abilities of <a href="[f669 href="/"></a href="[f669></p></div>urn:uuid:6ec37b56-8f5d-4199-b9c5-293d1976fffc/blog/future-of-law/ai-adoption-soars-across-uk-legal-sectorFuture of LawExplore the rapid adoption of generative AI across the UK legal sector, with insights from industry leaders on the opportunities, challenges, and strategies for successful implementation.Wed, 25 Sep 2024 23:00:00 Z<p>The legal profession, long known for its traditional practices, is undergoing a seismic shift as generative AI technology takes centre stage. A <a href="/research-and-reports/generative-ai-survey-h2-2024.html" target="_blank" data-sf-ec-immutable="">recent ������Ƶ survey</a> has revealed a remarkable surge in AI adoption across the UK legal sector, with four out of five lawyers (82%) currently using or planning to use this transformative technology. This blog delves into the key findings of the report, offering insights from industry leaders and exploring the opportunities, challenges, and strategies for successful AI implementation.</p><p><a href="/research-and-reports/generative-ai-survey-h2-2024.html" target="_blank" data-sf-ec-immutable=""></a></p><p>&nbsp;</p><h4><strong>Exponential growth</strong><strong> in AI adoption</strong><br></h4><p><em><strong>The staggering numbers</strong></em></p><p>The <a href="/research-and-reports/generative-ai-survey-h2-2024.html" target="_blank" data-sf-ec-immutable="">survey findings</a> paint a compelling picture of the rapid AI adoption within the legal sector. The number of lawyers using generative AI for work purposes has nearly quadrupled in just over a year, jumping from 11% in July 2023 to an impressive 41% in September 2024. Additionally, the percentage of lawyers planning to use AI has also increased significantly, from 28% to 41% during the same period.<br></p><p><em><strong>A paradigm shift</strong></em></p><p>The stark decrease in the number of lawyers with no plans to adopt AI, dropping from 61% to a mere 15%, underscores the profound shift taking place within the industry. Jonathan Kewley, Partner and Co-Chair of the Global Tech Group at Clifford Chance, aptly describes the level of adoption as "extraordinary," with innovation and investment reaching unprecedented levels.</p><h4><a href="/research-and-reports/generative-ai-survey-h2-2024.html" target="_blank" data-sf-ec-immutable=""></a></h4><p><em><strong>Embracing the future</strong></em></p><p>While AI is undoubtedly a valuable tool in the medium term, industry leaders like Kewley believe its use will only accelerate in the longer term. As Laura Hodgson, Generative AI Lead at Linklaters, points out, the legal profession has remained largely unaffected by new technology for several decades and was overdue for a shake-up.</p><p><a href="/research-and-reports/generative-ai-survey-h2-2024.html" target="_blank" data-sf-ec-immutable="">I want to read the full generative AI survey findings</a></p><h4><strong>Streamlining routine tasks and unlocking strategic potential</strong><br></h4><p><em><strong>Immediate benefits</strong></em></p><p>According to Bhavisa Patel, Director of Legal Technology at Eversheds Sutherland, the short to medium-term gains of generative AI will focus on streamlining routine, administrative tasks. Activities such as legal research, document review, and contract analysis will become simpler and quicker, allowing lawyers to concentrate on complex and strategic work.<br></p><p><em><strong>Vast possibilities ahead</strong></em></p><p>In the medium to long term, Patel acknowledges that the possibilities are vast, but the legal sector has yet to clearly identify the specific problems generative AI will solve. As the industry continues to explore and i</p>urn:uuid:84f2be09-19af-480d-95bf-731bdb004508/blog/future-of-law/pioneering-law-firms-harnessing-the-potential-of-generative-aiFuture of LawMel Kang, CEO of international law firm Mezzle shares his insights on the transformative potential of AI technology in the legal sector. He explains how integrating AI into his firm's operations has not only kept them at the forefront of industry advancements but also helps them to actively shape the future of the field.Thu, 08 Aug 2024 14:19:13 Zurn:uuid:3e03a9be-fbcf-4151-850a-7e696a9fb94f/blog/future-of-law/protecting-the-uk-industry-from-dumped-importsFuture of LawCatch the highlights from our webinar exploring strategies for UK industries to safeguard against unfairly dumped imports. This is the first in a three-part series in partnership with the TRA on trade remedies.Tue, 06 Aug 2024 13:07:08 Z<p style="text-align:left;">We recently hosted an insightful webinar exploring strategies for UK industries to safeguard against unfairly dumped imports. We have partnered with the Trade Remedies Authority (TRA) to bring you a three-part series on trade remedies, this being the first.</p><p style="text-align:left;">Moderated by Rian Geldenhuys, who oversees the ������Ƶ International Trade content, the virtual event featured a distinguished panel of trade remedy experts.</p><p style="text-align:left;">Dr. Bregt Natens, counsel in the International Commercial &amp; Trade Practice Group at Baker McKenzie, and Raheel Shahid, a solicitor with the UK's Trade Remedies Authority, shared their invaluable expertise on obtaining protection from dumped imports. Drawing from his experience assisting industries in filing anti-dumping applications, Dr. Natens provided practical insights into navigating the process successfully. Mr. Shahid offered a comprehensive understanding of the critical factors considered by the UK's Trade Remedies Authority when evaluating such applications.</p><p style="text-align:left;">You can&nbsp;<a href="https://www.youtube.com/watch?v=hjbuUb8ljI4" target="_blank" data-sf-ec-immutable="">watch the full webinar here</a>&nbsp;or read on for the key insights from the session.</p><h4 style="text-align:left;">Dumping is not necessarily intentional<span style="text-decoration:underline;"></span></h4><p style="text-align:left;">While dumping is often painted as an unfair trade practice, and it often is, it is most often not intentional. That is due to the definition of dumping, which goes beyond selling products cheaply or below cost in an export market. It is in fact international price discrimination, where an exporter sells its product at a lower price in the export market compared to the price for the same product in its own domestic market (the so-called normal value).&nbsp; Often exporters do not benchmark their export pricing against their domestic pricing, and as a result, may be unaware they may be subject to anti-dumping duties.<em></em></p><p style="text-align:left;"><em><a href="/legal/international-trade#pa-topics-section" data-sf-ec-immutable="">View international trade practice notes, precedents and news articles</a></em><em></em><em></em><em style="background-color:initial;font-size:inherit;font-family:inherit;text-align:inherit;text-transform:inherit;word-spacing:normal;caret-color:auto;white-space:inherit;"><em></em></em></p><h4 style="text-align:left;">Dumping is but one part of the equation</h4><p style="text-align:left;">In an anti-dumping duty application, significant emphasis is placed on whether the imported products are in fact being dumped. Applicants typically use import data to determine the export price, and conduct research in the exporter&rsquo;s domestic market </p>urn:uuid:2aab8fb1-f59c-4798-8978-2f1ec4ac424c/blog/future-of-law/law-firms-evolving-relationship-with-freelance-lawyersFuture of LawOutsourcing client work is something many law firms do, yet very few talk about. ������Ƶ investigates the freelance legal market, and how firms are working with them.Thu, 01 Aug 2024 10:28:35 Z<div></div><div><p><span style="background-color:initial;font-size:inherit;font-family:inherit;text-align:inherit;text-transform:inherit;word-spacing:normal;caret-color:auto;white-space:inherit;">Law firms are navigating a new frontier &ndash; the rise of freelance lawyers. ������Ƶ' latest report, "</span><a href="/research-and-reports/law-firms-relationship-with-freelancers.html" target="_blank" data-sf-ec-immutable="">Law firms' hush-hush relationship with freelancers</a><span style="background-color:initial;font-size:inherit;font-family:inherit;text-align:inherit;text-transform:inherit;word-spacing:normal;caret-color:auto;white-space:inherit;">," unveils this emerging trend, shedding light on the extent to which firms rely on freelancers, the types of work they outsource, and the factors driving more lawyers to embrace the freelance path.</span><span style="background-color:initial;font-size:inherit;font-family:inherit;text-align:inherit;text-transform:inherit;word-spacing:normal;caret-color:auto;white-space:inherit;"></span></p></div><div><br></div><h4>Key findings:</h4><div><p></p></div><div><p><strong>1. </strong><strong>Over a third of law firm leaders rely on short-term contract or freelance lawyers for client work</strong>. The survey found that 34% of law firm leaders employ freelancers, with medium-sized firms being th</p></div>urn:uuid:e5e693da-3540-4a97-9dc4-0a5691afaac1/blog/future-of-law/the-type-of-work-law-firms-will-likely-outsourceFuture of LawWe investigate the types of legal work being delegated to freelancers, shedding light on the strategic considerations and implications of this growing trend.Wed, 31 Jul 2024 16:28:03 Z<p>Outsourcing legal work remains a contentious topic, shrouded in secrecy. Yet many rely heavily on external resources to stay afloat. </p><p>But what exactly are firms outsourcing to these freelance lawyers? </p><p>This blog post delves into the types of legal work being delegated to freelancers, shedding light on the strategic considerations and implications of this growing trend.</p><p><a href="/research-and-reports/law-firms-relationship-with-freelancers.html" target="_blank" data-sf-ec-immutable="">Read our full report on the freelance legal market</a></p><h4><strong>Accessing specialist expertise</strong></h4><p>One of the primary reasons firms turn to freelance lawyers is to tap into specialised knowledge or expertise in niche areas of law. As John Joyce, the Former Managing Partner at Addleshaw Goddard, explains, "If a client wants an expert in something quite niche, say submarine cable laying law, you can hire an expert on a short-term contract basis for that specific task. That means you're not permanently employing someone that's waiting around for more work to come in."</p><p>These highly specialised freelancers can be found individually, through fee-sharing firms like Keystone Law, or on secondment from flexible legal resourcing providers such as Lawyers on Demand. By leveraging their expertise, firms can provide clients with tailored solutions without the overhead of permanent hires.</p><h4><strong>Routine tasks and document review</strong></h4><p>While accessing niche expertise is a common use case, firms also outsource more routine tasks and document review to freelance lawyers. As Deborah Finkler, the Managing Partner of Slaughter and May, notes, "Freelance lawyers are there to do a very specif</p>urn:uuid:103d72c9-1a0b-4cce-ba42-b6a57bdd0e99/blog/future-of-law/just-how-much-work-do-law-firms-send-to-freelancersFuture of LawLaw firms have been outsourcing client work to freelance lawyers for years. Discover the types of legal work being outsourced, the benefits and drawbacks, and the future of freelancing in the legal industry.Wed, 31 Jul 2024 16:22:15 Zurn:uuid:69dc442e-9c28-426e-9b2e-ae8024629b82/blog/future-of-law/20-essential-ai-terms-all-uk-lawyers-need-to-knowFuture of LawQuick and easy definitions of the AI related terminology all lawyers now need to know.Wed, 17 Jul 2024 09:13:28 Z<div></div><div><span style="background-color:initial;font-family:inherit;font-size:inherit;text-align:inherit;text-transform:inherit;word-spacing:normal;caret-color:auto;white-space:inherit;color:inherit;">As artificial intelligence (AI) continues to advance and become more integrated into various industries, including the legal field, it's crucial for lawyers in the UK to familiarise themselves with the relevant terminology. Understanding these terms will not only help you communicate more effectively with clients, colleagues, and experts but also enable you to navigate the legal implications and challenges posed by AI technologies. Here's a comprehensive list of AI terms that every UK lawyer should know:</span><p><span style="background-color:initial;font-size:inherit;font-family:inherit;text-align:inherit;text-transform:inherit;word-spacing:normal;caret-color:auto;white-space:inherit;">&nbsp;</span></p></div><div><br></div><div><p>1. <a href="https://www.ibm.com/topics/artificial-intelligence" target="_blank" data-sf-ec-immutable="">Artificial Intelligence (AI) </a>- The broad field of developing computer systems capable of performing tasks that typically require human intelligence, such as visual perception, speech recognition, decision-making, and language translation.</p><p>&nbsp;</p></div><div><br></div><div><p>2. <a href="https://aws.amazon.com/machine-learning" target="_blank" data-sf-ec-immutable="">Machine Learning (ML)</a> - A subset of AI that involves developing algorithms and statistical models that enable computer systems to learn from data and improve their performance on a specific task without being explicitly programmed.</p><p>&nbsp;</p></div><div><br></div><div><p>3. <a href="https://www.microsoft.com/en-us/ai/deep-learning" target="_blank" data-sf-ec-immutable="">Deep Learning </a>- A type of machine learning that uses artificial neural networks with multiple layers to learn and make intelligent decisions based on data inputs.</p><p>&nbsp;</p></div><div><br></div><div><p>4. <a href="https://cloud.google.com/natural-language" target="_blank" data-sf-ec-immutable="">Natural Language Processing (NLP</a>) - A branch of AI that deals with the interaction between computers and humans using natural language, enabling tasks such as text analysis, speech recognition, and language translation.</p><p>&nbsp;</p><p><em>Join the <a href="/ai-insider/sign-up.html" target="_blank" data-sf-ec-immutable="">Lexis+ AI Insider Programme</a> for real-time updates on the latest AI developments and exclusive resources and events.</em></p><p><em>&nbsp;</em></p></div><div><p>5. <a href="https://aws.amazon.com/machine-learning/computer-vision/" target="_blank" data-sf-ec-immutable="">Computer Vision </a>- The field of AI that enables computers to derive meaningful information from digital images, videos, and other visual inputs, enabling applications like object recognition, facial recognition, and image analysis.</p><p>&nbsp;</p></div><div><br></div><div><p>6. <a href="https://www.ibm.com/topics/robotics" target="_blank" data-sf-ec-immutable="">Robotics </a>- The branch of AI focused on designing and building robots, which are programmable machines capable of carrying out complex tasks and interacting with their environment.</p><p>&nbsp;</p></div><div><br></div><div><p>7. <a href="https://www.microsoft.com/en-us/research/project/reinforcement-learning" target="_blank href="https://www.microsoft.com/en-us/research/project/reinforcement-learning" target=""></a href="https://www.microsoft.com/en-us/research/project/reinforcement-learning" target="_blank></p></div>urn:uuid:3417668d-1853-41d3-a75e-c1865dc5cb57/blog/future-of-law/how-family-lawyers-can-use-lexis-to-boost-efficiencyFuture of LawDiscover how UK family lawyers can leverage the powerful tools and resources of Lexis+ Family to streamline legal research, drafting, analytics, and ease of access for increased efficiency and productivity.Fri, 12 Jul 2024 14:37:04 Z<p><strong></strong>The age-old saying &ldquo;It&rsquo;s not what you know, it&rsquo;s who you know,&rdquo; may still ring true in some circles, but for family law solicitors wanting to increase their efficiency and overall effectiveness, the saying should be switched to the following: &ldquo;It&rsquo;s not what you know, or who you know, it&rsquo;s what tools you have access to.&rdquo;</p><p>Leveraging the right legal technology tools is essential for streamlining your workflows and increasing productivity. ������Ƶ offers family lawyers a suite of powerful resources that can increase efficiency and effectiveness. In this guide, we'll explore specific technical tips and strategies for using <a href="/legal/family-law" data-sf-ec-immutable="">Lexis+ Family</a>.</p><h4>1. <strong>Mastering legal research with Lexis+</strong></h4><p>Comprehensive legal research is crucial in family law matters, and <a href="/legal/family-law" target="_blank" data-sf-ec-immutable="">Lexis+ Family </a>provides access to a vast collection of resources, including case law, legislation, precedents and forms.</p><p>To make the most of this wealth of information, follow these tips</p><p><strong>- </strong><strong>Utilise natural language searches:</strong> Lexis+ Family allows you to search using plain language queries, making it easier to find relevant information quickly.</p><p><strong>- Set up search filters:</strong> Customise your search filters by jurisdiction (e.g., England and Wales, Scotland, Northern Ireland) or practice area to ensure you're accessing the most relevant resources for your case.</p><p>- <strong>Save frequently used searches: </strong>If you have recurring research needs, save your search queries for easy access and reuse.</p><p>Additionally, ������Ƶ has recently introduced AI-powered tool the <a href="/lexis-plus/lexis-plus-ai.html" target="_blank" data-sf-ec-immutable="" href="/lexis-plus/lexis-plus-ai.html" target="_blank" data-sf-ec-immutable=""></a href="/lexis-plus/lexis-plus-ai.html" target="_blank" data-sf-ec-immutable=""></p>urn:uuid:1227c8d5-a6ac-4f3d-85db-8653148931da/blog/future-of-law/why-small-law-firms-are-investing-more-in-techFuture of LawWe discuss why many small law firms see tech as an essential ingredient to growth. We explore the growing appeal of tech investment for small law firms, discuss some of the barriers to investment, and explore the revolutionising effective of AI.Fri, 28 Jun 2024 11:43:13 Z<p>The 2024 ������Ƶ Bellwether report, <a href="/research-and-reports/bellwether-2024.html" data-sf-ec-immutable="" data-sf-marked="" target="_blank">Lessons on law firm growth</a>, explores all the vital ingredients that have led to growth among independent firms, including plans for scaling up, investment strategies, employee-employer relations, and so much more.</p><p>Growth has become a core priority. <a href="/research-and-reports/bellwether-2024.html" data-sf-ec-immutable="" data-sf-marked="">The Bellwether report</a>, built on a survey of more than 250 leaders and associates at small- and medium-sized legal practices, found that 63% of firms plan to grow through organic means, up from 40% in 2023.</p><p>A key route to growth, <a href="/research-and-reports/bellwether-2024.html" data-sf-ec-immutable="" data-sf-marked="">according to the report</a>, stems from tech investment. In this article, we explore the growing appeal of tech investment for small law firms, discuss some of the barriers to investment, and explore the revolutionising impact of <a href="[f669d9a7-009d-4d83-ddaa-000000000002]7B419546-9BE7-4547-B040-49D402C6565E/tracking-the-irresistible-rise-of-generative-ai">artificial intelligence. (AI)</a></p><p>&nbsp;</p><h4><strong>The growing appeal of tech</strong></h4><p>Firms placed tech firmly at the top of their priorities for investment. More than a third (35%) will increase spending in the next 12&ndash;18 months, while one-fifth (21%) have already done so. A mere quarter (26%) of firms suggest no plans to increase investment.</p><p>The appeal of tech stems from its ability to save time. The <a href="[f669d9a7-009d-4d83-ddaa-000000000002]7B419546-9BE7-4547-B040-49D402C6565E/how-is-technology-used-in-law-making">right platforms and the right tech</a> can reduce the time spent on drafting legal documents, conducting legal research, sourcing relevant precedents or citations, improving day-to-day operations, and so much more.</p><p>Tech also strengthens existing client relationships. Anthony Earl, Chair of the Law Society&rsquo;s <a href="https://www.lawsociety.org.uk/topics/small-firms" data-sf-ec-immutable="">Small Firms Network</a> Committee, says tech reduces time spent on admin, which &lsquo;means staff can concentrate on actually practicing law and improving the client experience&rsquo;.</p><p>Tech does not simply strengthen existing relationships. Stephen Roper, professor at Warwick Business School, claims that tech investment, when effectively deployed and integrated, can bring in new clients and boost revenue: &lsquo;Digital technologies can yield significant productivity benefits, most notably by making non-billable activities more efficient.&rsquo;</p><p>It is no surprise that small firms are aiming to increase investment in tech, especially as they need to </p>urn:uuid:d166b055-51f5-4391-be77-c827e7be44bf/blog/future-of-law/keeping-up-with-the-latest-legal-changes-without-it-impacting-client-workFuture of LawWe speak to Emma Egerton-Jones, award-winning solicitor and founder of Egerton-Jones Consulting, for her take on how small firms can keep up with increasing client expectations, whilst keeping up with changes to the legal industry and law.Thu, 20 Jun 2024 13:46:57 Z<p>According to our 2024 Bellwether Report, <a href="/research-and-reports/bellwether-2024.html" data-sf-ec-immutable="">83% of small firms say that their clients demand a quicker response time than before.</a> We speak to Emma Egerton-Jones, solicitor and founder of Egerton-Jones Consulting, for her take on how expectations have evolved, and what the &ldquo;new&rdquo; set of requirements that smaller firms are expected to meet looks like today.&nbsp;</p><p><strong>Why are small firms facing such a sharp rise in client expectations? How has this shifted since the pandemic?</strong></p><p>In today's rapidly evolving legal landscape, the lawyer-client dynamic is undergoing significant transformation, driven by shifting client expectations, changes in communication methods, heightened cost sensitivity, and the enduring impact of covid-19. Clients are seeking out lawyers who not only possess deep technical expertise <a href="[f669d9a7-009d-4d83-ddaa-000000000002]7B419546-9BE7-4547-B040-49D402C6565E/the-golden-era-for-small-law-firms-using-innovation-to-delight-clients">but are able to understand their unique needs, goals and preferences</a>.&nbsp;</p><p>The pandemic caused a global trust haemorrhage leaving clients with higher expectations of law firms than before and, given economic pressures, conducting more due diligence on their buying decisions. With geographical limits removed and all service providers available remotely, clients are surrounded by choice and looking for proof that what law firms <em>say </em>they deliver is true. There is a real sense of needing to know their legal spend will be justified, with a growing emphasis on transparent, value-driven solutions and tangible, cost-effective, results. </p><div><div><div id="_com_1" language="JavaScript"><p>Similarly, the experience deprivation and lack of connection during the pandemic reminded clients how much they value a humanised client journey. Paradoxically, <a href="[f669d9a7-009d-4d83-ddaa-000000000002]7B419546-9BE7-4547-B040-49D402C6565E/can-technology-help-independent-law-firms-to-grow">clients are also increasingly drawn to firms that leverage technology</a> to be more efficient and cost effective. This leaves small firms with the somewhat challenging expectation of accelerating digital service delivery whilst simultaneously investing more time in building relationships, understanding preferences, and offering enhanced experience. This is where understanding what your clients truly value becomes essential to gaining a competitive advantage.</p><p>When we combine these market shifts - such as economic pressure, diminished local bias, easier comparison, accessibility of knowledge, and increased competition - it isn&rsquo;t surprising </p></div></div></div>urn:uuid:f944a659-a51f-49ba-b7eb-e565c65eb64a/blog/future-of-law/lexis-ai-safe-accurate-fast-availableFuture of LawThe legal industry is undergoing a technological breakthrough. A Goldman Sachs report suggested that 44 per cent of legal work could be automated by generative AI in the near future. With the digital landscape evolving at unprecedented speeds, legal professionals across the UK have been quick to recognise the value that generative AI (gen AI) will offer them in their work.  AI adoption and advancementFor an industry which takes pride in accuracy and reliability, the adoption of AI demonstrates a progressive shift in strategic thinking. The legal profession is typically conservative, staying loyal to former processes. Forward thinking law firms such as Hamers Solicitors, a leading regional firm and Irwin Mitchell, one of the largest general practice law firms in the UK have realised that to remain relevant in an increasingly digital world, there is an urgent need to adapt to the technology advancements of today. As such, both firms are amongst the first to integrate Lexis+ AI into their operations.  These firms are setting a compelling example for others to follow. Those that identify as fast followers should recognise the urgency of this moment, the time to act is now.  Lexis+ AI is now available for UK customers as one of the most comprehensive legal AI platforms on the market. Grounded on one the UKs largest databases of legal research and practical guidance, Lexis+ AI is designed to deliver trusted responses with automatic links to the underlying evidence or source. Lexis+ AI is set to help transform the legal sector.  Gerry Duffy, Managing Director of ������Ƶ UK comments, “This is a pivotal moment in the history of the UK legal industry. We have had unprecedented levels of interest in Lexis+ AI from our market and as of today, many of our customers will be enjoying the competitive advantage of having access to our rich and authoritative content combined with our leading AI technology.”Thu, 13 Jun 2024 13:28:47 Z<div><p paraid="374940176" paraeid="{ec3652cc-6a5b-45d2-8122-732f21147ed9}{168}">The legal industry is undergoing a technological breakthrough. A <a href="https://www.key4biz.it/wp-content/uploads/2023/03/Global-Economics-Analyst_-The-Potentially-Large-Effects-of-Artificial-Intelligence-on-Economic-Growth-Briggs_Kodnani.pdf" target="_blank" rel="noreferrer noopener" data-sf-ec-immutable="">Goldman Sachs report</a> suggested that 44 per cent of legal work could be automated by generative AI in the near future. With the digital landscape evolving at unprecedented speeds, legal professionals across the UK have been quick to recognise the value that generative AI (gen AI) will offer them in their work.&nbsp;&nbsp;</p><h4 paraid="374940176" paraeid="{ec3652cc-6a5b-45d2-8122-732f21147ed9}{168}">AI adoption and advancement</h4></div><div><p paraid="2053246457" paraeid="{ec3652cc-6a5b-45d2-8122-732f21147ed9}{223}">For an industry which takes pride in accuracy and reliability, the adoption of AI demonstrates a progressive shift in strategic thinking. The legal profession is typically conservative, staying loyal to former processes. Forward thinking law firms such as Hamers Solicitors, a leading regional firm and Irwin Mitchell, one of the largest general practice law firms in the UK have realised that to remain relevant in an increasingly digital world, there is an urgent need to adapt to the technology advancements of today. As such, both firms are amongst the first to integrate Lexis+ AI into their operations.&nbsp;&nbsp;</p></div><div><p paraid="318058892" paraeid="{ec3652cc-6a5b-45d2-8122-732f21147ed9}{237}">These firms are setting a compelling example for others to follow. Those that identify as fast followers should recognise the urgency of this moment, the time to act is now.&nbsp;&nbsp;</p></div><div><p paraid="181304343" paraeid="{2f6d3c89-f6ae-47d8-903f-6251f2e306d0}{4}">Lexis+ AI is now available for UK customers as one of the most comprehensive legal AI platforms on the market. Grounded on one the UKs largest databases of legal research and practical guidance, Lexis+ AI is designed to deliver trusted responses with automatic links to the underlying evidence or source. Lexis+ AI is set to help transform the legal sector.&nbsp;&nbsp;</p></div><div><p paraid="1443599880" paraeid="{2f6d3c89-f6ae-47d8-903f-6251f2e306d0}{58}">Gerry Duffy, Managing Director of ������Ƶ UK comments, &ldquo;This is a pivotal moment in the history of the UK legal industry. We have had unprecedented levels of interest in Lexis+ AI from our market and as of today, many of our customers will be enjoying the competitive advantage of having access to our rich and authoritative content combined with our leading AI technology.&rdquo;&nbsp;</p></div>urn:uuid:161c120e-66bb-40cf-b5b3-ab3c34491392/blog/future-of-law/how-independent-law-firms-feel-about-growing-organicallyFuture of LawSmaller law firms are adamant that they can grow their businesses organically in the next few months. Find out their top tactics here.Wed, 12 Jun 2024 15:02:00 Zurn:uuid:3c1444ba-aa10-4835-894f-3a4232944327/blog/future-of-law/with-ai-lawyers-will-hold-an-entire-world-of-legal-knowledge-in-their-handsFuture of LawLawyers trade on their knowledge. But even the most junior of lawyers now have an entire world of legal knowledge at their fingertips. How will this impact the sector?Thu, 30 May 2024 15:28:34 Z<div><p><span style="background-color:initial;color:inherit;font-family:inherit;font-size:inherit;text-align:inherit;text-transform:inherit;word-spacing:normal;caret-color:auto;white-space:inherit;">A week or two ago, I had the privilege to address the audience at LegalEdCon.&nbsp; This group of several hundred learning and development professionals are dedicated to nurturing and developing the next generation of lawyers.&nbsp; I argued that the next generation of lawyer is not only the luckiest generation of lawyers ever, but also the most powerful.&nbsp; Here&rsquo;s my argument.&nbsp;&nbsp;</span></p><p><span style="background-color:initial;color:inherit;font-family:inherit;font-size:inherit;text-align:inherit;text-transform:inherit;word-spacing:normal;caret-color:auto;white-space:inherit;"><span style="background-color:initial;font-family:inherit;font-size:inherit;text-align:inherit;text-transform:inherit;word-spacing:normal;caret-color:auto;white-space:inherit;color:inherit;"></span><span style="background-color:transparent;color:inherit;font-family:inherit;font-size:inherit;text-align:inherit;text-transform:inherit;word-spacing:normal;caret-color:auto;white-space:inherit;">It is (pretty much) undeniable.&nbsp; The legal profession, that unchanging bastion of tradition and process, is changing.&nbsp; The catalyst?&nbsp; Generative artificial intelligence (AI). As we squint into the sunshine of this revolution (and yes, it is a revolution), it is clear that the next generation of lawyers are taking on a burden of responsibility sooner than expected.&nbsp;</span></span></p><h4><span style="background-color:initial;color:inherit;font-family:inherit;font-size:inherit;text-align:inherit;text-transform:inherit;word-spacing:normal;caret-color:auto;white-space:inherit;"><span style="background-color:transparent;color:inherit;font-family:inherit;font-size:inherit;text-align:inherit;text-transform:inherit;word-spacing:normal;caret-color:auto;white-space:inherit;"><strong>Lawyers need to become champions of change</strong></span></span></h4><p>Laws come and go, the power of the judiciary ebbs and wanes, law firms are born, merge and die.&nbsp; Yet, eerily constant through this changing legal web, one element of the legal industry refuses to die.&nbsp; For centuries, the billable hour has been the bedrock of legal practice.&nbsp; Lawyers meticulously track their time and clients meticulously argue over that tracking.&nbsp; The billable hour stands as the proud symbol of an unchanging legal industry.&nbsp;</p><p>According to a recent ������Ƶ survey, 80% of firms still rely on the billable hour when charging clients. This is followed by fixed fee by matter (61%), fixed fee by phase (40%), and flat fees (38%).</p></div><div><br></div><div><blockquote>It is (pretty much) undeniable.&nbsp; The legal profession, that unchanging bastion of tradition and process, is changing.&nbsp; The catalyst?&nbsp; Generative artificial intelligence (AI).&nbsp; </blockquote></div><div><br></div><div>But - imagine a world where legal research, drafting and analysis is performed effortlessly and swiftly by AI.&nbsp; Lawyers can now focus on strategic thinking, nurturin</div>urn:uuid:129e2473-13bb-4154-8caa-ba0ad0cf398b/blog/future-of-law/can-technology-help-independent-law-firms-to-growFuture of LawTechnology can help increase lawyers' productivity, but will that bring in more revenue, or will it reduce it? We investigateWed, 29 May 2024 16:42:38 Z<p>Everyone has an opinion about how to run a business. But not everyone knows how to grow one. </p><p>Instead of relying on what may have worked in the past, small firms are investing in a new approach. The 2024 <a href="/research-and-reports/bellwether-2024.html" target="_blank" data-sf-ec-immutable="">������Ƶ Bellwether survey </a>of 250+ leaders and associates at small- and medium-sized legal practices revealed many firms have plans to grow their business, and they&rsquo;re using technology to help them get there.</p><p>Almost two-thirds (63%) of firms plan to grow through organic means over the next five years, up from 40% in 2023 (a 57% increase in a mere 12 months).</p><p>To fuel their growth plans, firms have placed investment in technology at the top of their priority list, outranking hiring more lawyers or marketing and business development activities.</p><div data-sf-ec-immutable="" contenteditable="false" style="width:640px;height:360px;display:block;margin-left:auto;margin-right:auto;" class="sf-immutable-selected"><div data-sf-disable-link-event=""><iframe width="640" height="360" src="https://www.youtube.com/embed/VSh_OfCnnbo" frameborder="0" allowfullscreen=""></iframe></div></div><p>Almost half (56%) of firms have either spent or are planning to spend more on technology in the next 12-18 months. 35% plan to increase their spend on technology in the next 12 to 18 months, while 21% already have. Only 26% said they had no plans to increase investment.</p><p>Hiring more lawyers was also high on the 2024 agenda, with 40% planning to do so soon, and 16% having hired new lawyers already. Other key areas of investment include growing their marketing (49%) and business development functions (43%).</p><p>In 2024, the percentage of small law firms reporting growth sat at 48%, with a further 40% reporting stability. This is roughly on par with recent years, with the exception being 2021's post-lockdown boom which saw two-thirds (66%) of firms declaring growth.<br></p><p>Firms with between 11-20 fee earners are the most likely to experience growth, with the average sitting at 67%. Solo practitioners were harder done by, with one in five (20%) saying their firm's performance has declined in the last three to four years.</p><p style="text-align:center;"><a href="/research-and-reports/bellwether-2024.html" data-sf-ec-immutable="">Read the Bellwether 2024 report here</a></p><h4><strong>How technology can drive revenue for law firms </strong></h4>urn:uuid:7e890d1e-db86-43a6-81b7-e525761b7c6f/blog/future-of-law/real-models-laura-spoonerFuture of LawOur REAL Models series showcases the diverse range of roles we have across our business and we hope to improve knowledge around what it means to be part of something bigger. We believe being part of ������Ƶ means being part of the change you want to see in the world.Thu, 23 May 2024 23:00:00 Zurn:uuid:f9ac6113-c03c-47f5-97eb-c44c3f268faf/blog/future-of-law/laws-of-attraction-how-to-recruit-retain-associatesFuture of LawSo-called bidding wars rage between UK and US firms. We explore the constant appeal of higher salaries and the increasing allure of a greater work-life balance.Tue, 21 May 2024 08:00:00 Z<p>The so-called bidding wars for associates have raged since at least 2015 when <a href="[f669d9a7-009d-4d83-ddaa-000000000002]7B419546-9BE7-4547-B040-49D402C6565E/global-firms-vs-uk-firms-the-battle-for-the-city">US firms made a concerted push into the UK market</a> to pursue private equity work. Aggressive hiring formed a massive part of that push and continues too now. <a href="https://www.kirkland.com/" data-sf-ec-immutable="">Kirkland &amp; Ellis</a> brought in 18 UK partners in 2023, and Paul, Weiss, Rifkind, Wharton &amp; Garrison made 14 lateral hires during the same time, including recruiting top partners from Linklaters and Clifford Chance. In fact, <a href="https://www.leopardsolutions.com/leopard-law-firm-index-list/" data-sf-ec-immutable="">according to Leopard Solutions</a>, more than 370 associates left Magic Circle firms in 2023 and US firms have been among the top beneficiaries.&nbsp;</p><p>UK firms, as shown in our recent report, <a href="/research-and-reports/disloyal-lawyers-and-the-partnership-model.html?" data-sf-ec-immutable="">Disloyal lawyers: has the partner track lost its lustre?</a>, have been fighting back. They aim to increase associate recruitment and retention by focusing on improved work-life balance, offering attractive packages that reduce hourly demands, provide faster tracks to promotion, and afford greater autonomy in each role.&nbsp;</p><p>In this article, we deep dive into <a href="/research-and-reports/disloyal-lawyers-and-the-partnership-model.html?" data-sf-ec-immutable="">our report</a> to look at how US and UK firms compete for associates, exploring the allure of higher salaries and the increasing appeal of a <a href="[f669d9a7-009d-4d83-ddaa-000000000002]7B419546-9BE7-4547-B040-49D402C6565E/how-law-firms-are-evolving-the-partnership-model">greater work-life balance</a>.&nbsp;</p><h4>The constant allure of higher salaries&nbsp;</h4><p>In the simplest terms, UK firms are struggling to match US salaries. <a href="/research-and-reports/disloyal-lawyers-and-the-partnership-model.html?" data-sf-ec-immutable="">Our report</a> suggested that compensation packages have stayed roughly the same in the last 12 months for UK firms. Only 11% of senior leaders claimed their firms had increased salaries above the rate of inflation, while 21% said they've only increased to match inflation.&nbsp;</p><p>Medium-sized and large law firms were more likely to raise salaries, at 38% and 31% respectively, but even these numbers show a minimal appetite &ndash; or an inability&nbsp;&ndash; to compete with US firms on salary. None of the Magic Circle firms match the <a href="https://abovethelaw.com/2023/11/cravath-announces-raises-comes-over-the-top-of-milbank-scale-for-some-associates/" data-sf-ec-immutable="">so-called Cravath scale</a> that elite US law firms adhere to for compensating associates. In fact, according to a <a href="https://news.bloomberglaw.com/business-and-practice/elite-uk-firms-are-losing-london-salary-battle-to-us-invaders" data-sf-ec-immutable="">London-based legal recruiter</a>, the</p>urn:uuid:71428809-f9ea-4060-ada3-3b7ac2d98b88/blog/future-of-law/lawyer-retention-in-an-age-of-declining-loyaltyFuture of LawWe explore the impact of declining loyalty on law firms and lawyers. Is this always such a bad thing?Tue, 14 May 2024 15:00:55 Z<p>In our recent report, <a href="/research-and-reports/disloyal-lawyers-and-the-partnership-model.html?" data-sf-ec-immutable="">Disloyal lawyers: has the partner track lost its lustre?</a>, legal leaders suggest the challenge of lawyer retention is partly due to loyalty. Lawyers in the early stages of their careers no longer feel obligated to stay at the same law firm, nor to follow the once-assumed partnership model. Job mobility has drastically increased along with a reduction in the associated stigma around moving.&nbsp;</p><p>These challenges aren't restricted to the legal sector. They're part of a mass re-evaluation of priorities that followed the pandemic. However, solutions are unique to individual sectors. </p><p>In this article, we explore the driving forces behind the decline in loyalty, the impact on law firms and the wider sector, and discuss whether less loyalty is such a bad thing.</p><h4>The decline in loyalty&nbsp;</h4><p>The decline in loyalty is driven by wider social change. People across all industries have re-evaluated their priorities and work-life balance has often come out on top. The social change is not unique to any given generation or demographic. It's widespread, almost universal. In fact, according to the recent <a href="https://www.edelman.com/trust/trust-barometer" data-sf-ec-immutable="">Edelman Trust Barometer</a>, more than two-thirds (67%) of employees across the economy need to rethink what work means to employees. </p><p>Lawyers, like workers across the economy, no longer want to spend twelve-hour days in an office, and this as mentioned above, has led to increased job mobility and decreased stigma around changing jobs, particularly for younger lawyers. <a href="https://www.thelawyer.com/signal/data/fee-sharing-firms-what-you-need-to-know/" data-sf-ec-immutable="">The Lawyer's analysis</a> of hiring data from Atlas by <a href="https://www.codexedge.com/" data-sf-ec-immutable="">Codex Edge</a> supports this. The data reveals lawyers are more likely to move firms, with junior lawyers being significantly more likely. The peak movement occurs at the 3PQE stage. </p><p>That's a point recognised by associates and legal leaders alike. In fact, according to <a href="/research-and-reports/disloyal-lawyers-and-the-partnership-model.html?" data-sf-ec-immutable="">our report</a>, 72% of leaders said associates are less loyal than in the past. This number jumps to 81% for large and medium-sized firms. Importantly, 61% of leaders said declining loyalty is intertwined with job mobility. It's thus self-perpetuating: lawyers are moving firms due to the reduced stigma and the reduced stigma makes lawyers move.</p><p><em>Be at the forefront of the generative AI revolution, join <a href="/event/lexis-plus-demonstration-uk.html?" data-sf-ec-immutable="">Lexis+ AI Insiders</a> today and stay ahead of the curve. </em></p><h4>The impact of the decline in loyalty </h4><p>One</p>urn:uuid:141019a7-a08b-43a2-87b7-46a28a52bcb4/blog/future-of-law/law-firms-the-freelance-revolutionFuture of LawWe explore the impact of the increasing role of freelancers in law firms.Tue, 07 May 2024 12:51:34 Z<p>Our recent report, <a href="/research-and-reports/disloyal-lawyers-and-the-partnership-model.html" data-sf-ec-immutable="">Disloyal lawyers: has the partner track lost its lustre?</a>, explores how career paths in law firms are quickly changing. <a href="/research-and-reports/disloyal-lawyers-and-the-partnership-model.html" data-sf-ec-immutable="">Our report</a> showed the partnership model, once the assumed career path for associates, has been fading in popularity.&nbsp;</p><p>New career paths have gained huge credibility after a relook at priorities following the pandemic. In recent years, we've seen the rise of <a href="[f669d9a7-009d-4d83-ddaa-000000000002]989FB383-18F1-4B05-860D-C7607CBE56BA/what-s-the-best-legal-services-model-for-in-house-teams">a host of alternative legal service providers (ALSPs)</a>, an increase in <a href="[f669d9a7-009d-4d83-ddaa-000000000002]7B419546-9BE7-4547-B040-49D402C6565E/5-exciting-new-career-paths-for-junior-lawyers">legal consultants at platform law firms</a>, a new wave of <a href="[f669d9a7-009d-4d83-ddaa-000000000002]7B419546-9BE7-4547-B040-49D402C6565E/a-demand-for-specialist-knowledge">freelance lawyers</a>, and plenty of other unique options challenging the standard model.&nbsp;</p><p>Because of such changes, law firms are struggling to <a href="[f669d9a7-009d-4d83-ddaa-000000000002]7B419546-9BE7-4547-B040-49D402C6565E/what-career-paths-will-replace-the-partnership-model">retain talent</a> and therefore, law firms are increasingly looking to contractors, consultants, and freelancers. </p><p>In this article, we'll dig deeper into the new opportunities for lawyers, the shifting career paths available to them, and the increasing role of contractors, freelancers, and legal consultants in law firms.&nbsp;</p><h4>Differentiating contractors, freelancers, and legal consultants</h4><p>It's important to begin with definitions. Both freelancers and contractors are typically self-employed, operating as <a href="[f669d9a7-009d-4d83-ddaa-000000000002]7B419546-9BE7-4547-B040-49D402C6565E/how-to-start-your-own-law-firm">sole traders or as limited companies</a> and each operates differently. Mostly, contractors are signed up with an agency and not paid directly by clients, whereas freelancers work independently and are paid directly.&nbsp;</p><p>The term <a href="/research-and-reports/platform-law-report.html" data-sf-ec-immutable="">legal consultant</a> is often used interchangeably with freelance lawyer. Like contractors, legal consultants don't work entirely independently, as revenue-sharing <a href="[f669d9a7-009d-4d83-ddaa-000000000002]7B419546-9BE7-4547-B040-49D402C6565E/5-ways-small-law-firms-can-compete-with-platform-law-firms">platform law firms</a> typically afford them employment. The key difference between legal consultants and contractors is that consultants tend to share a percentage of billings, whereas contractors are typically paid in fixed amounts: per day, per month, per job, and so on. </p><p>As mentioned, the legal sector often uses the above terms interchangeably and <a href="[f669d9a7-009d-4d83-ddaa-000000000002]7B419546-9BE7-4547-B040-49D402C6565E/the-future-of-work-since-2019">freelancer is sometimes applied as a synecdoche</a> for all employees not employed by a law firm or a business. For ease, here, freelancer will cover both contractors and legal consultants.&nbsp;</p><p><em>Be at the forefront of the generative AI revolution, join <a href="/event/lexis-plus-demonstration-uk.html?" data-sf-ec-immutable="">Lexis+ AI Insiders</a> today and stay ah</em></p>urn:uuid:4ff7ae5e-26b5-4839-a9d3-6141729cd99b/blog/future-of-law/building-a-personal-brand-as-a-law-studentFuture of LawDeveloping a personal brand as a law student takes more than just a list of accomplishments; it requires careful consideration of experiences, values, and objectives. Students can carve out a distinct identity in the legal field by embracing varied experiences, demonstrating skills and passion, creating an online presence, participating in advocacy, and making important relationships through networking.Wed, 01 May 2024 15:34:16 Z<p>As a second-year law student at the University of Glasgow, my experience has been a thrilling combination of academics, community service, and personal development. Building a personal brand entail more than just listing successes; it also entails crafting a narrative that reflects my unique experiences, values, and goals. Let's explore how each facet of multiple facets alongside academics, contributes to shaping a personal brand within the legal realm.</p><p>&nbsp;</p><p><strong>Embrace Different Experiences</strong></p><p>Diversifying my experiences has been important in developing an interesting personal brand. From presenting research papers at multiple&nbsp;conferences to working with Citizens Advice, I've accepted opportunities that match my interests and ideals.&nbsp; These experiences have not only broadened my awareness of the legal world, but have also helped me improve my problem-solving, empathy, and advocacy skills. Whether it's taking on leadership roles in clubs and societies or working as a peer learning intern, every experience has helped me grow as a legal professional and shape my personal brand.</p><p>&nbsp;</p><p><strong>Showcase Your skills and passion</strong></p><p>As a law student, I used a variety of methods to promote my understanding and leadership in the legal community. Through blog postings, publications, and research papers, I've provided ideas on legal themes of interest while also engaging with peers and experts. Participating in speaking engagements and panel discussions has allowed me to demonstrate my&nbsp;passion. Consistently producing content and engaging with a wider community of students and professionals has allowed me to establish myself as a credible voice and authority in my field.</p><p>&nbsp;</p><p><strong>Cultivate Your Online Presence</strong></p><p>Maintaining a professional online presence has been crucial in shaping my personal </p>urn:uuid:6d209552-deaf-4e3a-a3df-135a7037400e/blog/future-of-law/how-law-firms-are-evolving-the-partnership-modelFuture of LawThe law firm partnership model is in the process of evolution. We explore the impact of this change and the risks and benefits of introducing new partners.Fri, 26 Apr 2024 14:15:57 Z<p>Our report, <a href="/research-and-reports/disloyal-lawyers-and-the-partnership-model.html?" data-sf-ec-immutable="">Disloyal lawyers: has the partner track lost its lustre</a>?, explores the evolution of the partnership model. The partnership model was once, quite simply, the only choice in career path. It was the dream: partners shared profits, liabilities, and management of firms. But, due to the shifting ambitions of associates, new demands in the market, and <a href="[f669d9a7-009d-4d83-ddaa-000000000002]7B419546-9BE7-4547-B040-49D402C6565E/how-city-firms-can-counter-the-threat-of-the-big-four">new competitive forces</a>, the partnership model is fading, at least in its earlier form.&nbsp;</p><p><a href="/research-and-reports/disloyal-lawyers-and-the-partnership-model.html?" data-sf-ec-immutable="">Our report</a> shows 49% of law firm leaders believe associates are less interested in becoming partner, and only 25% of associates want to make partner at their current firm in the next five years. A statistic that drops to 22% for associates at large law firms and 23% at medium-sized firms. The <a href="[f669d9a7-009d-4d83-ddaa-000000000002]7B419546-9BE7-4547-B040-49D402C6565E/the-declining-allure-of-the-partnership-model">allure of the partnership model</a> has declined, but not gone away entirely. The model is evolving to meet new demands. </p><p>In this article, we track this evolution and explore the pros and cons of taking on partners versus keeping equity tight. </p><h4>The evolution of the partnership model </h4><p>Associates re-evaluated their priorities during and after the pandemic. <a href="[f669d9a7-009d-4d83-ddaa-000000000002]7B419546-9BE7-4547-B040-49D402C6565E/how-can-law-firms-meet-the-work-life-balance-demand">Work-life balance</a> became important: more than two-thirds (71%) placed it in their top priorities. Partnership, with all the perceived stress, long hours and the <a href="https://hbr.org/2021/01/work-life-balance-is-a-cycle-not-an-achievement" data-sf-ec-immutable="">work-life imbalance</a>, has dwindled as an aspiration.&nbsp;</p><p>Law firms started changing to meet new ambitions. For example, <a href="https://www.slaughterandmay.com/" data-sf-ec-immutable="">Slaughter and May</a> offer a 'switch on/switch off' scheme, allowing associates to reduce hours to 0.9 or 0.8 FTE, in exchange for reduced remuneration. Slaughter and May also allow associates to take accrued non-working time off in pre-arranged blocks. The changes boost flexibility and ensure long-term career paths, hoping to prioritise work-life balance.&nbsp;</p><p>Many firms are following suit, aiming to reduce demands on associates. The move seems a counter-argument to the <a href="/research-and-reports/the-three-competitive-threats-facing-city-law-firms.html" data-sf-ec-immutable="">pitch of US firms</a>, which have disrupted the UK market in recent years and have enticed top talent with promises of high pay. Reduced time demands in UK firms is particularly appealing as US firms demand so much. <a href="https://www.legalcheek.com/2021/01/revealed-law-firms-average-work-from-home-start-and-finish-times-2020-21/" data-sf-ec-immutable=" href="https://www.legalcheek.com/2021/01/revealed-law-firms-average-work-from-home-start-and-finish-times-2020-21/" data-sf-ec-immutable=""></a href="https://www.legalcheek.com/2021/01/revealed-law-firms-average-work-from-home-start-and-finish-times-2020-21/" data-sf-ec-immutable="></p>urn:uuid:0c8841a0-74cb-4aa5-900e-18116aa5937f/blog/future-of-law/how-uk-us-law-firms-are-meeting-associate-ambitionsFuture of LawWe examine how UK and US law firms are meeting shifting associate expectations around different approaches towards compensation, work-life balance, and career development.Sun, 21 Apr 2024 23:00:00 Z<p>Our recent report, <a href="/research-and-reports/disloyal-lawyers-and-the-partnership-model.html?" data-sf-ec-immutable="">Disloyal lawyers: has the partner track lost its lustre?</a>, explores the shifting ambitions of associates and the future of the partnership model. <a href="/research-and-reports/disloyal-lawyers-and-the-partnership-model.html?" data-sf-ec-immutable="">Our report</a> demonstrates that the partnership model, with lawyers working up the ranks, no longer seems inevitable.&nbsp;</p><p>The implications are being felt across the legal sector globally. <a href="[f669d9a7-009d-4d83-ddaa-000000000002]7B419546-9BE7-4547-B040-49D402C6565E/are-city-law-firms-ready-to-tackle-a-triad-of-threats">UK and US law firms</a> are witnessing changing priorities, struggling with retention and recruitment, and trying to meet the demands of the moment. </p><p>Here, we compare UK and US law firms' associate expectations, exploring key differences in pay, work-life balance, and career development. </p><h4>How UK and US law firms compare in terms of pay </h4><p><a href="/research-and-reports/disloyal-lawyers-and-the-partnership-model.html?" data-sf-ec-immutable="">Our report</a> revealed that 71% of associates place work-life balance on their list of top priorities. That's partly driven by new opportunities: lawyers have more options and more potential career paths than ever, ranging from <a href="[f669d9a7-009d-4d83-ddaa-000000000002]7B419546-9BE7-4547-B040-49D402C6565E/5-exciting-new-career-paths-for-junior-lawyers">freelancing</a> to <a href="[f669d9a7-009d-4d83-ddaa-000000000002]7B419546-9BE7-4547-B040-49D402C6565E/alsps-share-their-thoughts-on-why-in-house-legal-teams-aren-t-adopting-legal-technology">alternative legal service providers</a>, and&nbsp;<a href="[f669d9a7-009d-4d83-ddaa-000000000002]989FB383-18F1-4B05-860D-C7607CBE56BA/in-house-teams-a-technology-driven-success-story">platform law</a>. But shifting ambitions are also driven by negative perceptions: <a href="/research-and-reports/disloyal-lawyers-and-the-partnership-model.html?" data-sf-ec-immutable="">the report </a>shows that associates believe partners suffer from a <a href="https://hbr.org/2021/01/work-life-balance-is-a-cycle-not-an-achievement" data-sf-ec-immutable="">work-life imbalance</a>, which puts off many aspiring lawyers. However, this is only one side of the story. </p><p>When asked which changes would encourage associates to remain at their existing firms, <a href="/research-and-reports/disloyal-lawyers-and-the-partnership-model.html?" data-sf-ec-immutable="">our report</a> found that 70% of associates referenced a higher salary and only 36% referenced a better work-life balance. Work-life balance is clearly a priority, but pay can prove decisive. One solicitor, with two decades of experience working in human rights and civil litigation, neatly summed up the situation: "In my experience, in the early stages of their career very few [junior lawyers] favour experience and knowledge over remuneration."&nbsp;</p><p>Pay has long been a retention problem for UK firms. The <a href="https://www.pwc.co.uk/industries/legal-professional-business-support-services/law-firms-survey.html" data-sf-ec-immutable="">PwC's Annual Law Firm's 2023</a> survey suggested that US law firms are pushing their way into the UK legal market, partly due to their ability to offer higher pay packages. The top UK firms pay roughly 35-40% less than US peers, according to a <a href="https://news.bloomberglaw.com/business-and-practice/elite-uk-firms-are-losing-london-salary-battle-to-us-invaders" data-sf-ec-immutable="">London-based legal recruiter</a>. Even Magic Circle firms aren't able to match elite firms when it comes to associate salaries, despite the continuous US expansion. </p><p>UK firms largely operate <a href="https://hrzone.com/glossary/what-is-lockstep-compensation/" data-sf-ec-immutable="">lockstep remuneration models</a>, with partner seniority determining pay. That means</p>urn:uuid:7c47c9a5-28f1-4656-a1e3-92cb5ad2ecf6/blog/future-of-law/what-career-paths-will-replace-the-partnership-modelFuture of LawThe demand for a better work-life balance has transformed the legal sector. We explore how law firms are rising to meet those expectations by offering new opportunities and new career paths.Mon, 15 Apr 2024 15:49:08 Z<p>Our new report, <a href="/research-and-reports/disloyal-lawyers-and-the-partnership-model.html?" data-sf-ec-immutable="">Disloyal lawyers: has the partner track lost its lustre?</a> unveils different career paths for lawyers. Ones that move away from the traditional partnership model. It unveils how the assumed routes to success, finding a good firm and staying put until you make partner, are no longer end-goals for many lawyers.&nbsp;</p><p>One surprising statistic from <a href="/research-and-reports/disloyal-lawyers-and-the-partnership-model.html?" data-sf-ec-immutable="">our report</a> demonstrated that, despite awareness of <a href="[f669d9a7-009d-4d83-ddaa-000000000002]7B419546-9BE7-4547-B040-49D402C6565E/how-city-firms-can-counter-the-threat-of-the-big-four">new legal models</a> and a degree of apathy towards the partnership model, three-quarters (75%) of associates plan to stay in Private Practice over the next five years. </p><p>This invites questions: are lawyers intrigued by new opportunities within firms? Has the <a href="/legal/news/the-work-life-balance-in-a-law-firm" data-sf-ec-immutable="">pull of a better work-life balance</a> dampened the push for partner? Are lawyers happy coasting instead of pushing themselves? </p><p><a href="/research-and-reports/disloyal-lawyers-and-the-partnership-model.html?" data-sf-ec-immutable="">Our report</a> found the legal sector, like most sectors, has been transformed in the years directly following the pandemic. It found a sector in flux, with age-old assumptions and normative traditions challenged. In this article, we explore how new priorities have led to new career paths and look at some of the firms forging unique paths to retain talented lawyers. </p><h4>The demand for new career options at law firms </h4><p>The pursuit of a <a href="[f669d9a7-009d-4d83-ddaa-000000000002]7B419546-9BE7-4547-B040-49D402C6565E/how-can-law-firms-meet-the-work-life-balance-demand">greater work-life balance</a>, hastened by shifting priorities during and following the pandemic, has been the main driver of change. Law firms are well aware of the shift in priorities with the popularity of remote and flexible working now well-defined across the sector. <a href="/research-and-reports/disloyal-lawyers-and-the-partnership-model.html?" data-sf-ec-immutable="">Our report</a> found only 7% of lawyers at Private Practice firms were happy staying in the same position, while 26% wanted to be promoted to a position below partner. Most <a href="[f669d9a7-009d-4d83-ddaa-000000000002]7B419546-9BE7-4547-B040-49D402C6565E/the-declining-allure-of-the-partnership-model">didn't want to follow the partnership route</a><. There's a degree of uncertainty, but this is driven by the diversity of options. <</p>urn:uuid:c077c6de-8bd0-4346-9aa6-550d0adec37a/blog/future-of-law/how-can-law-firms-meet-the-work-life-balance-demandFuture of LawA better work-life balance is now a priority. But what does this mean for lawyers and law firms?Thu, 11 Apr 2024 15:48:01 Z<p>Our new report, <a href="/research-and-reports/disloyal-lawyers-and-the-partnership-model.html?utm_source=linkedin&amp;utm_medium=social&amp;utm_campaign=602807__all_segments__disloyal_lawyers" data-sf-ec-immutable="">Disloyal lawyers: has the partner track lost its lustre</a>, shows that lawyers at different stages of their careers seek a greater work-life balance. Our&nbsp;<a href="/research-and-reports/disloyal-lawyers-and-the-partnership-model.html?utm_source=linkedin&amp;utm_medium=social&amp;utm_campaign=602807__all_segments__disloyal_lawyers" data-sf-ec-immutable="">survey of more than 500+ lawyers</a> found work-life balance was the most importance factor when looking to move firms.&nbsp;</p><p>Here, we look at the reasons lawyers demand a better work-life balance, explore how this rising demand impacts the sector, and discuss how firms can meet that demand. </p><h4>The pandemic and shifting priorities </h4><p>The <a href="https://www.edelman.com/trust/trust-barometer" data-sf-ec-immutable="">Edelman Trust Barometer</a> explains that employees wanted a work-life reset. Changes in the world since the pandemic have forced people to re-examine their priorities. According to <a href="https://www.edelman.com/trust/trust-barometer" data-sf-ec-immutable="">the Barometer</a>, more than two-thirds (67%) of employees are re-evaluating how they spend their time and 72% believe employers need to rethink what work means to employees.&nbsp;</p><p>The pandemic was the catalyst. The changes in working life, hastened by necessity, shifted attitudes towards work. Remote working seemed a quick solution to a short-term problem, but instead led to long-term questions around the role of the office, the flexibility of organisations, and the best routes to productivity. </p><p>Lawyers, like many other employees, didn't want to return to the office. They wanted more flexibility, and law firms had to level with that new reality. Many realised these changes were mutually beneficial. For example, the <a href="https://www.cosocloud.com/press-releases/coso-survey-shows-working-remotely-benefits-employers-and-employees" data-sf-ec-immutable="">CoSo Cloud Survey</a> found 77% of remote employees felt more productive, and the <a href="https://www.flexjobs.com/blog/post/remote-work-statistics/" data-sf-ec-immutable="">FlexJobs report</a>&nbsp;found employees faced fewer distractions when working from home. Furthermore, the <a href="https://www.greatplacetowork.com/resources/blog/remote-work-productivity-study-finds-surprising-reality-2-year-study" data-sf-ec-immutable="">Great Place to Work</a> report, which depends on data gathered from over 800,000 employees at <a href="https://fortune.com/ranking/fortune500/" data-sf-ec-immutable="">Fortune 500</a> companies found not only greater productivity from flexible remote workers, but improved wellbeing, reduced personal costs, and greater satisfaction. </p><h4>The Great Resignation and reduced stigma</h4><p><a href="https: href="/"></a href="https:></p>urn:uuid:f933b792-29ff-429d-8b4a-eb5a4b85adf7/blog/future-of-law/the-potential-of-ai-for-lawyers-from-academic-institutionsFuture of LawWe explore the potential of generative AI on the future of legal academic institutions and look at how lawyers can work to maximise impact while mitigating ethical concerns.Thu, 11 Apr 2024 12:34:55 Z<p>Our recent report, <a href="/research-and-reports/lawyers-cross-into-the-new-era-of-generative-ai.html?utm_source=linkedin&amp;utm_medium=social&amp;utm_campaign=602739__all_segments__generative_ai_survey_h1_2024" data-sf-ec-immutable="">Lawyers cross into the new era of generative AI</a>, shows an accelerated use of generative artificial intelligence (AI) across the legal sector. The <a href="[f669d9a7-009d-4d83-ddaa-000000000002]7B419546-9BE7-4547-B040-49D402C6565E/explore-the-growing-appetite-for-legal-ai">appetite is huge</a> among lawyers, with adoption rates more than doubling from just <a href="/insights/generative-ai-and-the-future-of-the-legal-profession/index.html" data-sf-ec-immutable="">11% of lawyers in July 2023</a> to over a quarter (26%) in January 2024. But, as ever with the latest tech developments, adoption of generative AI has proved uneven, with certain parts of the legal sector more enthusiastic than others.&nbsp;</p><p>Lawyers from academic institutions have proven the most enthusiastic, with 33% of respondents from academic institutions regularly using AI compared to the overall use of 26%. Lawyers from academic institutions use AI <a href="[f669d9a7-009d-4d83-ddaa-000000000002]7B419546-9BE7-4547-B040-49D402C6565E/how-small-law-firms-can-mitigate-the-risks-of-generative-ai">more than small</a> and large law firms, and more than <a href="[f669d9a7-009d-4d83-ddaa-000000000002]7B419546-9BE7-4547-B040-49D402C6565E/how-generative-ai-will-change-the-nature-of-in-house-work">in-house lawyers</a> and <a href="[f669d9a7-009d-4d83-ddaa-000000000002]7B419546-9BE7-4547-B040-49D402C6565E/generative-ai-the-bar-overcoming-hallucinations">lawyers at the Bar</a>. But, while academic lawyers are profoundly enthusiastic, they're also the most concerned about the <a href="[f669d9a7-009d-4d83-ddaa-000000000002]DAB99E6B-08FF-4788-AE71-6B01D9199FDD/ai-use-risks-ethics-in-annual-reporting">ethical implications</a> of AI, and most aware of the <a href="https://hbr.org/2023/06/managing-the-risks-of-generative-ai" data-sf-ec-immutable="">moral hazards</a>.&nbsp;</p><p>Lawyers in academic institutions are proving a paradox, boasting both enthusiasm and caution. In this article, we explore the potential of generative AI on the future of legal academic institutions and look at how academic lawyers can work to maximise the impact of generative AI while mitigating risks. </p><p><em>AI has arrived and the landscape is changing. Discover <a href="/event/lexis-plus-demonstration-uk.html?utm_source=linkedin&amp;utm_medium=social&amp;utm_campaign" data-sf-ec-immutable="">Lexis+ AI Insiders</a>. Join today and stay ahead of the curve.</em> </p><h4>The application of AI in legal academia </h4><p>As mentioned above, lawyers from academic institutions are utilising AI more than any other section of the legal sector. Academic lawyers are not simply adopting the tech, but have been <a href="[f669d9a7-009d-4d83-ddaa-000000000002]989FB383-18F1-4B05-860D-C7607CBE56BA/five-tips-how-in-house-lawyers-can-streamline-workflows">implementing and integrating it across operations</a>. For example, only 22% of <a href="/research-and-reports/lawyers-cross-into-the-new-era-of-generative-ai.html?utm_source=linkedin&amp;utm_medium=social&amp;utm_campaign=602739__all_segments__generative_ai_survey_h1_2024" data-sf-ec-immuta href="/research-and-reports/lawyers-cross-into-the-new-era-of-generative-ai.html?utm_source=linkedin&amp;utm_medium=social&amp;utm_campaign=602739__all_segments__generative_ai_survey_h1_2024"></a href="/research-and-reports/lawyers-cross-into-the-new-era-of-generative-ai.html?utm_source=linkedin&amp;utm_medium=social&amp;utm_campaign=602739__all_segments__generative_ai_survey_h1_2024" data-sf-ec-immuta></p>urn:uuid:58746cc4-9e2c-4f90-8ef5-02d277bd2240/blog/future-of-law/the-declining-allure-of-the-partnership-modelFuture of LawWe explore the core drivers behind the decline in the partnership model, such as the prioritisation of work-life balance and the rise of alternative legal service models.Tue, 09 Apr 2024 12:26:32 Z<p>Our new report, <a href="/research-and-reports/disloyal-lawyers-and-the-partnership-model.html?" data-sf-ec-immutable="">Disloyal lawyers: has the partner track lost its lustre</a>, explores the shifting ambitions of associates, the urgent needs of legal leaders, and the future of the partnership model. This model, where partners share profits, liabilities, and management of the firm, has long been a staple structure of legal practices. But, <a href="/research-and-reports/disloyal-lawyers-and-the-partnership-model.html?" data-sf-ec-immutable="">our report</a> demonstrates how the dream of making partner is quickly fading.&nbsp;</p><p><a href="/research-and-reports/disloyal-lawyers-and-the-partnership-model.html?" data-sf-ec-immutable="">Our report</a> shows less than half (49%) of law firm leaders think the current generation of associates are interested in becoming partner. It also reveals that only a quarter (25%) of associates want to make partner at their current firm within the next five years, dropping to 22% for lawyers at large firms and 23% at medium-sized firms. Leaders and associates agree: the allure of partnership is in decline. This raises key questions: What's driving that decline? What are the causes of shifting ambitions? How should firms react? </p><p>Here, we explore the core drivers of the decline in the demand for partnership and the increasing importance of <a href="https://hbr.org/2021/01/work-life-balance-is-a-cycle-not-an-achievement" data-sf-ec-immutable="">work-life balance</a>, including the diverse options available to associates. </p><h4>The increasing value of work-life balance </h4><p>The pandemic drove the shift in priorities towards a better work-life balance. And, by the necessity of lockdowns, inadvertently led to improvements in working life, particularly with remote working. This is further reinforced with Gen Z prioritising their work-life balance, and Millennials are proving instrumental. <a href="https://www.cityam.com/gen-z-will-work-hard-but-not-while-stressed-millennials-stay-home/" data-sf-ec-immutable="">Generations Expert, Dr Eliza Philby</a>, explains: 'The major puzzle piece is not Gen Z's desire for work-life balance but Millennial managers who are juggling kids, the mortgage rate crisis, have done the ten-year slog and don't want to commute.'</p><p>Shifting priorities, across various generations, has led to a shifting mindset in the approach to the partnership model. Moira Slape, Chief People Officer at <a href="https://www.traverssmith.com/" data-sf-ec-immutable="">Travers Smith</a>, says the allure of partner has lessened as a result: 'The mindset has s</p>urn:uuid:b0f4422e-b349-4002-9b17-a23a84e57b71/blog/future-of-law/why-should-caribbean-attorneys-invest-in-technologyFuture of LawIn an age of technological advancement, the legal sector, once seen as resistant to change, is now embracing innovation to improve efficiency and stay competitive. Caribbean attorneys, as indicated by research from ������Ƶ, are recognizing the importance of investing in technology to streamline processes, access legal resources, enhance client communication, adapt to remote work trends, and gain a competitive edge. By leveraging technology, attorneys can boost productivity, provide better services to clients, and position themselves for future success in an evolving legal landscape dominated by AI and digital solutions.Thu, 04 Apr 2024 13:06:47 Z<p>In an era of rapid technology advancement, industries across the board are embracing innovation to streamline operations, enhance efficiency, and stay ahead of the curve. The legal sector, traditionally perceived as conservative and resistant to change, is not immune to this trend. <br><strong><br></strong>The legal profession is steeped in tradition but as technology continues to advance at a rapid pace, it's becoming clear that the industry must adapt, or risk being left behind.</p><p>According to the <a href="/insights/caribbean-legal-report-2023-changing-tides/index.html" data-sf-ec-immutable="" data-sf-marked="" target="_blank">Caribbean legal research</a> from ������Ƶ Caribbean attorneys are well aware of that.<br>&nbsp;</p><p>When asked about the specific ways in which firms plan to grow, one popular choice was to increase investment in technology. Nearly half of respondents (49%) said they had plans to increase their investment in their processes and technology, while just over a quarter (29%) had already done so. In a similar vein, 41% of respondents said they planned to pour more money into their website, while 35% said this was something they have already implemented. In this blog post, we'll explore why Caribbean attorneys should invest in technology and how it can revolutionize their legal practice.</p><p><strong>1) Efficiency and productivity:</strong></p><p><strong><ins cite="mailto:Patel,%20Rakhee%20(LNG-LON)" datetime="2024-02-22T16:48"></ins></strong><br><strong><ins cite="mailto:Patel,%20Rakhee%20(LNG-LON)" datetime="2024-02-22T16:48"></ins></strong>One of the primary reasons Caribbean attorneys should invest in technology is the significant boost it provides to efficiency and productivity. Repetitive tasks</p>urn:uuid:e80bd59c-9ee5-4192-bdd3-45cd8bd905cc/blog/future-of-law/explore-the-growing-appetite-for-legal-aiFuture of LawOur report, Lawyers cross into the new era of generative AI, revealed rapid acceleration in the adoption of generative AI in the legal market. In this article, we summarise the key takeaways from the report and explore its potential long-lasting impact in all areas of the sector, including pricing.Wed, 27 Mar 2024 10:00:00 Z<p>Our recent report, <a href="/research-and-reports/lawyers-cross-into-the-new-era-of-generative-ai.html" data-sf-ec-immutable="">Lawyers cross into the new era of generative AI</a>, demonstrates a rapid increase in the adoption of artificial intelligence (AI). The report shows adoption rates have more than doubled in the past six months alone, with 26% of lawyers now regularly using generative AI tools, compared to just 11% in a comparable survey from <a href="/insights/generative-ai-and-the-future-of-the-legal-profession/index.html" data-sf-ec-immutable="">July 2023</a>.&nbsp;</p><p>This upward trend looks likely to continue. More than a third (35%) of lawyers suggested they plan to use AI in the future. In particular, <a href="[f669d9a7-009d-4d83-ddaa-000000000002]7B419546-9BE7-4547-B040-49D402C6565E/should-law-firms-disclose-the-use-of-generative-ai">in-house lawyers</a> professed a strong appetite, with more than two-fifths (42%) alluding to plans to incorporate AI into legal work. </p><p>It's not just AI adoption that's increased. <a href="/research-and-reports/lawyers-cross-into-the-new-era-of-generative-ai.html" data-sf-ec-immutable="">Our report</a> also showed that 65% of lawyers felt increasingly confident using AI platforms grounded on legal research, especially when using AI tools built on trusted legal content sources, such as <a href="/event/lexis-plus-demonstration-uk.html" data-sf-ec-immutable="">Lexis+ AI</a>. The overall perception of AI has shifted and, in the future, the appetite for adoption is expected to continue to grow. </p><p>In this article, we look at the <a href="/research-and-reports/lawyers-cross-into-the-new-era-of-generative-ai.html" data-sf-ec-immutable="">key takeaways from the report</a> and track the accelerated adoption of AI across the legal industry. We explore, among other things, how lawyers are preparing for AI, the demand for AI accountability, and how AI will <a href="[f669d9a7-009d-4d83-ddaa-000000000002]7B419546-9BE7-4547-B040-49D402C6565E/how-generative-ai-will-transform-pricing-in-law">impact future pricing models</a>. </p><h4>Lawyers gear up for generative AI </h4><p>The appetite for generative AI in law is unprecedented, with <a href="[f669d9a7-009d-4d83-ddaa-000000000002]7B419546-9BE7-4547-B040-49D402C6565E/how-generative-ai-helps-law-firms-to-compete">lawyers from across the sector</a> embracing the tech. As mentioned above, more than a quarter of lawyers now regularly use AI. Academic institutions and large law firms also proved to be eager to use such tools, at 33% and 32% respectively. </p><p>Future plans show more enthusiasm. Only 39% of lawyers in <a href="/research-and-reports/lawyers-cross-into-the-new-era-of-ge href="/"></a href="/research-and-reports/lawyers-cross-into-the-new-era-of-ge></p>urn:uuid:34af6192-5f11-4171-96b1-7e867fecb20e/blog/future-of-law/are-the-sra-accounts-rules-just-for-the-accounts-department-in-a-law-firm-to-knowFuture of LawKaren Edwards from the Institute of Legal Finance and Management discusses the SRA Accounts Rules from a legal practice perspective.Fri, 15 Mar 2024 13:49:53 Zurn:uuid:727d5417-d72d-4ede-b0e3-2dec2356e68f/blog/future-of-law/how-can-you-use-organic-social-growth-to-nurture-your-corporate-brandFuture of LawThe topic of our most recent webinar was a tool that we believe all firms should use to their advantage: organic social media. Hosted by Laura Halls, Social Media and Content Marketing Manager at ������Ƶ, the session tackled what organic social media is, and how you can use it to cost-effectively raise your profile, build your client base, and even measure an ROI on your efforts.Fri, 15 Mar 2024 11:43:21 Z<div><p paraid="495037630" paraeid="{c8e54d45-fc08-4016-b34b-74e4cb908d01}{189}">The topic of our most recent webinar was a tool that we believe <a href="[f669d9a7-009d-4d83-ddaa-000000000002]7B419546-9BE7-4547-B040-49D402C6565E/why-lawyers-should-embrace-social-media-not-fear-it" rel="noreferrer noopener" target="_blank">all firms should use to their advantage</a>: organic social media. Hosted by Laura Halls, Social Media and Content Marketing Manager at ������Ƶ, the session tackled what organic social media is, and how you can use it to cost-effectively raise your profile, build your client base, and even measure an ROI on your efforts.&nbsp;</p></div><div><p paraid="40489299" paraeid="{bab8df46-b81b-4435-b625-90a4dc1c5d73}{32}">Let&rsquo;s take a look at four key learnings we took away from the event: &nbsp;</p></div><div><h4 paraid="1357167005" paraeid="{bab8df46-b81b-4435-b625-90a4dc1c5d73}{50}">1. Linkedin&rsquo;s personal profile v company page: what&rsquo;s the difference? &nbsp;</h4></div><div><p paraid="399197289" paraeid="{bab8df46-b81b-4435-b625-90a4dc1c5d73}{67}">Though it might sound obvious, when it comes to Linkedin, your company page plays a very different role to your personal profile. Think of it in terms of the &lsquo;push&rsquo; and &lsquo;pull&rsquo; effect: while your personal profile allows you to make connections, build a network, and reach out to prospects, your company profile is the space to showcase your firm&rsquo;s brand. That&rsquo;s not just the work you offer, but the values your firm stands for. It&rsquo;s a page that contacts both your immediate network and further, so they can &lsquo;follow&rsquo; for an idea of your culture, as well as services. It offers you not only analytics, to measure how your audience is engaging with you, but helpful suggestions on the type of content your followers could find interesting.<span style="background-color:transparent;color:inherit;font-family:inherit;font-size:inherit;text-align:inherit;text-transform:inherit;word-spacing:normal;caret-color:auto;white-space:inherit;"></span></p></div><div><h4 paraid="1696648283" paraeid="{bab8df46-b81b-4435-b625-90a4dc1c5d73}{213}">2. Twitter (or X):&nbsp; to use or not to use?&nbsp;&nbsp;</h4></div><div><p paraid="169055238" paraeid="{bab8df46-b81b-4435-b625-90a4dc1c5d73}{224}">There is no doubt that Twitter (or X) is a declining platform. 2023 has only demonstrated how undecided it is on its purpose, be that as a source of current events or as a platform that delivers <a href="https://www.aljazeera.com/economy/2023/8/3/what-is-elon-musks-everything-app-and-what-can-it-learn-from-china" target="_blank" rel="noreferrer noopener" data-sf-ec-immutable="">&lsquo;everything&rsquo;</a>. It&rsquo;s not one to invest significant resources and time into right now, as the ROI simply is not there. But it&rsquo;s not one to ignore, either, with a significant number of legal professionals on the platform both in the UK </p></div>urn:uuid:09779232-23d7-4fac-aead-2ba1d6e29936/blog/future-of-law/how-generative-ai-will-transform-pricing-in-lawFuture of LawWe discuss how generative AI will significantly impact law firm pricing and may lead to different firms of billing.Mon, 11 Mar 2024 00:00:00 Z<p>A conflict brews in the heart of the legal sector. Generative artificial intelligence (AI) has arrived and the uptake has been encouraging. Our recent report, <a href="/research-and-reports/lawyers-cross-into-the-new-era-of-generative-ai.html" data-sf-ec-immutable="">Lawyers cross into the new era of generative AI</a>, shows that more than a quarter (26%) of lawyers use generative AI tools at least once per month. Adoption rates in the past six months alone have more than doubled.&nbsp;</p><p>The conflict exists in discerning who benefits from AI gains, especially around pricing. Generative AI streamlines operations, <a href="[f669d9a7-009d-4d83-ddaa-000000000002]7B419546-9BE7-4547-B040-49D402C6565E/how-to-automate-your-law-firm">automates small-scale processes</a>, and expedites legal research. It provides huge time- and cost-savings. The conflict surrounds who should benefit from such savings. Should it be <a href="[f669d9a7-009d-4d83-ddaa-000000000002]7B419546-9BE7-4547-B040-49D402C6565E/are-city-law-firms-ready-to-tackle-a-triad-of-threats">the firms investing</a> in tools alone? Or should benefits be passed on to their clients? Should in-house teams expect billing practices to change due to generative AI? </p><p>Below we discuss the potential problem of pricing and delve into the heart of the conflict, discussing two core points of contention: sharing the cost reductions and more effective forms of billing. </p><h4>The need to share cost reductions </h4><p>The problem of pricing was unveiled in <a href="/research-and-reports/lawyers-cross-into-the-new-era-of-generative-ai.html" data-sf-ec-immutable="">our survey</a>. More than half (52%) of in-house teams and in-house lawyers <a href="[f669d9a7-009d-4d83-ddaa-000000000002]7B419546-9BE7-4547-B040-49D402C6565E/alternative-billing-the-secret-to-a-better-work-life-balance-for-lawyers">expect bills to reduce</a> as a result of generative AI. Respondents from law firms, on the other hand, seemed less certain, with only 40% suggesting that they expected bills to be reduced. Such contrasting opinions form the crux of the pricing problem. </p><p>Properly trained generative AI systems grounded in legal data overseen by humans with an awareness of real-world impacts, will drastically improve the nature of legal work. Mark Smith, Director of Strategic Markets at <a href="/blog" data-sf-ec-immutable="">������Ƶ</a>, says that AI can ensure legal tasks are undertaken faster and at a higher quality than by a human alone:&nbsp;</p><p>"The impact on price will depend on many different factors &ndash; the importance and number of those tasks in the overall workflow, the pricing mechanism at play, the commercial relationship between the client and law firm, and the overall level of competition in that segment of the market."&nbsp;</p><p>Various elements play a role, but the inescapable fact is that AI, properly executed, certainly saves money and time. According to John Quinn, Founder and Chairman of <a href="https://www.quinnemanuel.com/" data-sf-ec-immutable="">Quinn Emanual</a></p>urn:uuid:a7f5fcf6-d8c0-4abb-b269-e6a49f0680d3/blog/future-of-law/churchill-v-merthyr-tydfil-is-adr-no-longer-an-alternativeFuture of LawRead highlights from our webinar which explored whether ADR is no longer an option, but set to become a compulsory part of the claims procedure following Churchill v Merthyr Tydfil.Thu, 07 Mar 2024 11:00:00 Z<p>We were delighted to host a webinar on alternate dispute resolution (ADR) following the Court of Appeal&rsquo;s decision in <em>Churchill v Merthyr Tydfil County Borough Council</em> [2023] EWCA Civ 1416, which was handed down on 23 November 2023. We explored the implications of this case, and what it means from a practical perspective.</p><p>Moderated by Neda Feather, PSL in our Dispute Resolution team, our panel of experts included:</p><ul><li><strong>Iain Wightwick of Unity Street Chambers</strong> &ndash; Iain specialises in real property work and social housing and has championed the use of ADR in property law over the past 25 years. He was at first instance and remains counsel for the Council in <em>Churchill v Merthyr Tydfil County Borough Council</em>.</li><li><strong>Anna Gilbert, Counsel in Dispute Resolution at Hausfeld &amp; Co LLP</strong> &ndash; Anna specialises in commercial litigation and arbitration, with extensive experience in resolving complex disputes through ADR, Anna represents corporate and high net worth clients in a range of sectors, often involving multiple jurisdictions.&nbsp;</li><li><strong>Rebecca Warder, Head of Knowledge Management at Hausfeld &amp; Co LLP and Deputy Chair at the London Chamber of Arbitration and Mediation</strong> &ndash; Rebecca is an experienced knowledge lawyer who has handled a wide range of high value disputes, both in litigation and arbitration, Rebecca has extensive experience of mediation.&nbsp;</li></ul><p>You can <a href="https://youtu.be/mq203RGs51A?si=R9O_HRRvFjwrhZvm" target="_blank" data-sf-ec-immutable="">watch the full webinar here</a> or read on for the key insights from the session.</p><h4>Background of <em>Churchill v Merthyr Tydfil County Borough Council</em></h4><p>Iain introduced the case and noted that housing repair claims were not generally high value claims. The claimant, Mr. Churchill, noticed some Japanese knotweed growing on his property. Therefore, he instructed solicitors to commence proceedings against Merthyr Tydfil County Borough Council (the Council) for not taking any steps against the knotweed that was going onto his property. The Council asked Mr. Churchill to use the Council&rsquo;s internal complaints process, which Churchill refused to do.&nbsp;</p><p>Before the lower court, the District Judge agreed with the Council that the internal complaints procedure should </p>urn:uuid:154d26f6-d4c9-4dec-96d0-15228373345f/blog/future-of-law/the-future-of-family-lawFuture of LawGraeme Fraser, Partner and Head of Family at BBS Law, shares his reflections on the key opportunities and challenges in the family law market, the digitisation of the courts and the impact of generative AI on the practice area.Wed, 06 Mar 2024 15:00:00 Z<p>The legal sector is evolving at a rapid pace, adapting to the numerous&nbsp;opportunities and challenges it faces. From the cost-of-living crisis, shifting client expectations, increasing demand for specialist knowledge, and the emergence of <a href="[f669d9a7-009d-4d83-ddaa-000000000002]7B419546-9BE7-4547-B040-49D402C6565E/tracking-the-irresistible-rise-of-generative-ai">generative artificial intelligence (AI) legal tech tools</a>, today&rsquo;s lawyers are embracing change. This is no different for <a href="[f669d9a7-009d-4d83-ddaa-000000000002]7B419546-9BE7-4547-B040-49D402C6565E/growing-areas-of-the-law-2024">family lawyers who&nbsp;are predicted to see&nbsp;a steady increase in demand in their practice area in 2024</a>, and who are using tech tools, such as the&nbsp;MyHMCTS portal, to reduce the current backlog in the courts.</p><p>We caught up with&nbsp;Graeme Fraser, Partner and Head of Family at <a href="https://bbslaw.co.uk/" target="_blank" data-sf-ec-immutable="">BBS Law</a>&nbsp;to hear his insights on the future of family law. Read on for Graeme's reflections on the current key opportunities and challenges in the market, the digitisation of the courts and the impact of generative AI on the practice area.&nbsp;<br></p><h4>What are the key opportunities and challenges for family lawyers at the moment?</h4><p>Legal advice remains a primary need for clients going through divorce and separation. It is particularly important to provide clients with informed early advice. Following the advent of no-fault divorce, some work is becoming less contentious and easier to resolve. Family lawyers need to move away from adversarial approaches and adapt to a more transactional way of working including instructing a single lawyer for both clients. The recession means that consumers may be more reticent about separating, as they may not have enough money to afford rehousing. Family lawyers need to adapt their practices to ensure that we meet client needs which evolve because of financially straitened times. The increasing pressure on the Family Court means that many cases do not get heard quickly enough, deterring use of the Courts for those who can afford private processes including hybrid mediation, collaborative practice, and arbitration. We will need to ensure that the services that we offer make sense and appeal to consumers as being at reasonable cost. Where administrative work can be done more </p>urn:uuid:71a27326-2599-4ceb-bec2-f6e164d22088/blog/future-of-law/how-generative-ai-will-change-the-nature-of-in-house-workFuture of LawGenerative AI will change the nature of in-house legal work. We explore how in-house teams have addressed the risks of generative AI and explore how generative AI might impact pricing in the future.Mon, 04 Mar 2024 09:00:00 Z<p><a href="[f669d9a7-009d-4d83-ddaa-000000000002]7B419546-9BE7-4547-B040-49D402C6565E/generative-ai-the-expectations-of-in-house-teams">In-house legal teams </a>have pioneered generative artificial intelligence (AI) adoption. </p><p>Our report, <a href="/research-and-reports/lawyers-cross-into-the-new-era-of-generative-ai.html" data-sf-ec-immutable="">Lawyers cross into the new era of generative AI</a>, demonstrates in-house teams are often time-poor, deal with low-value but high-volume tasks, and typically work in organisations with a greater appetite for risk. Simply, in-house teams are better prepared for AI adoption.&nbsp;</p><p>But, despite this, in-house teams face several risks and challenges around generative AI which has translated into caution, particularly around the external use of generative AI. We've also seen challenges around billing, with in-house teams and firms at odds with pricing expectations. </p><p>This article will explore the core risks associated with free-to-use generative AI platforms, discuss how teams can overcome such risks, and look at how to approach pricing challenges. </p><h4>In-house teams and the associated risks of AI</h4><p>In our July 2023 survey, 70% of in-house teams expected external counsel to use generative AI.&nbsp;That number sharply declined to just 57% in <a href="/research-and-reports/lawyers-cross-into-the-new-era-of-generative-ai.html" data-sf-ec-immutable="">January 2024</a>. Mark Smith, Director of Strategic Markets at <a href="/blog" data-sf-ec-immutable="">������Ƶ</a>, says risks around accuracy, quality, and security justify declining expectations: "I suspect the number one reason is accuracy and fear of having the wrong advice, particularly heightened by issues with free-to-use generative AI."</p><p>Respondents cited the following as the most pressing risks of adopting generative AI: <a href="/insights/how-to-practice-ethical-use-of-ai-in-law/index.html" data-sf-ec-immutable="">hallucinations</a> (57%), security issues (55%), and the tech not being trustworthy enough (55%). Only 10% cited no concerns about generative AI. Free-to-use generative AI platforms create accuracy risk. Accuracy issues occur due to platforms trained on poor data sets, which create incorrect or misleading information to fill in knowledge gaps or reveal false information based on false inputs. </p><p>Accuracy is a huge area of concern and one where in-house teams can't afford to get wrong. In-house lawyers are hired for their specialist knowledge and legal expertise. That knowledge informs legal issues <a href="[f669d9a7-009d-4d83-ddaa-000000000002]989FB383-18F1-4B05-860D-C7607CBE56BA/lawyer-or-leader-how-in-house-counsel-can-navigate-this-paradox">but increasingly defines strategic objectives</a>, influences commercial outcomes, and even delves into ethical decisions. If <a href="[f669d9a7 href="/"></a href="[f669d9a7></p>urn:uuid:1b3daae0-b04c-4afa-9d36-b9b5f63a0318/blog/future-of-law/generative-ai-the-bar-overcoming-hallucinationsFuture of LawWe explore the rise of the use of generative artificial intelligence at the Bar, discuss the emerging concerns around hallucinations, and offer some practical tips to help avoid them.Mon, 26 Feb 2024 00:00:00 Z<p>Generative artificial intelligence (AI) has become a key talking point across the world. Initially slow to adopt the tech, the <a href="/insights/generative-ai-why-lawyers-need-complete-transparency/index.html" data-sf-ec-immutable="">legal sector has now opened its arms</a> and embraced it. In the last six months, according to our new report, <a href="/research-and-reports/lawyers-cross-into-the-new-era-of-generative-ai.html" data-sf-ec-immutable="">Lawyers cross into the new era of generative AI</a>, the use of this rapidly evolving tech in law has doubled. As of January 2024, more than a quarter (26%) of respondents revealed they're using generative AI tools at least once a month, a noticeable rise from only 11% of respondents in <a href="/insights/generative-ai-and-the-future-of-the-legal-profession/index.html" data-sf-ec-immutable="">July 2023</a>.&nbsp;</p><p>The <a href="[f669d9a7-009d-4d83-ddaa-000000000002]7B419546-9BE7-4547-B040-49D402C6565E/tracking-the-irresistible-rise-of-generative-ai">rise of generative AI</a> has amplified many of its benefits, allowing the less tech-savvy to take advantage. But its rise has also showcased the risks, of which barristers are well aware. For example, only 10% of legal experts in <a href="/research-and-reports/lawyers-cross-into-the-new-era-of-generative-ai.html" data-sf-ec-immutable="">our report</a> said they had no concerns about generative AI, 90% cited some risks, 57% of respondents noted concerns <a href="https://cloud.google.com/discover/what-are-ai-hallucinations" data-sf-ec-immutable="">around hallucinations</a> and 55% noted issues with trusting generative AI platforms. </p><p>AI has arrived at the Bar, but these&nbsp;<a href="https://www.ibm.com/topics/ai-hallucinations" data-sf-ec-immutable="">concerns around hallucinations</a> still limit widespread adoption. They're justified, but simple measures can help barristers limit or even completely remove this risk. </p><p>Below we discuss the ethical implications of hallucinations, explore why they're a valid concern, and look at the best ways for barristers to avoid them. </p><h4>Why hallucinations are the primary concern</h4><p>Our report, <a href="/research-and-reports/lawyers-cross-into-the-new-era-of-generative-ai.html" data-sf-ec-immutable="">Lawyers cross into the new era of generative AI</a>, unveils why hallucinations are a core concern at the Bar. In the simplest terms, the risk is the reliance upon erroneous information, and the degree of risk depends on the application. For a humanities student, hallucinations result in an incorrect sentence, and maybe a bad grade. For a marketing assistant, the hallucination might lead to an incorrect social media post, or false stats in a presentation leading to a negative opinion of their competency. But for barristers, the risks are far more excessive. A hallucination could cause significant harm. </p><p>Barristers trade on their reputation which is upheld by consistent and quality work, providing the</p>urn:uuid:05388771-34b9-49bc-bf0d-ff9d331cc2a1/blog/future-of-law/real-models-mark-wilsonFuture of LawOur REAL Models series showcases the diverse range of roles we have across our business and we hope to improve knowledge around what it means to be part of something bigger. We believe being part of ������Ƶ means being part of the change you want to see in the world.Fri, 23 Feb 2024 00:00:00 Z<p>Our <strong>REAL Models</strong> series showcases the diverse range of roles we have across our business and we hope to improve knowledge around what it means to be part of something bigger. We believe being part of ������Ƶ means being part of the change you want to see in the world.&nbsp;</p><p>In this month's edition, we meet: </p><p style="text-align:center;"><strong>Mark Wilson, Senior Product Manager&nbsp;</strong></p><p>Mark joined the company in 2000 as an Editorial Manager in Tax for the-then Textbooks team, after previously having editorial roles. In 2007, he moved into more technology focused roles, and went into the Content Solutions team in 2007.&nbsp;</p><p>Mark started my Product Development career in 2019, with a six-month secondment working as a Product Owner, and after developing a taste for how we maintain products at ������Ƶ, he accepted a full-time role with the Product team. </p><p>As a Product Manager in Legal markets, Mark's focus is on the support and delivery of Lexis+, and is responsible for Legislation and Search. Mark leads product discover to understand customer needs, using insight gained from discovery and then collaborating with other teams to deliver these solutions, as well as providing support on customer queries.&nbsp;</p><p>Discover more about <a href="/products/lexis-plus-trial.html?utm_source=linkedin&amp;utm_medium=social#signup-form" data-sf-ec-immutable="">Lexis+</a>.</p><h4>My typical day...</h4><p>"My alarm goes off at 7am, but I'm a morning person so I'm usually up and about before then. I take a quick look at the day's headlines before sitting down to read a comic with breakfast, I've been an avid collector of comics and graphic numbers for as long as I can remember. Breakfast is the perfect opportunity to chip away at my ever-growing to-read pile.</p><p>"I tend to be at my desk by 7.45am, and usually our Staffie, Stukey, wanders in to say hello, he's definitely not a morning person! It's a nice way to start the day. </p><p>"I normally start the working day checking and responding to emails and checking the work tickets, before a stand-up with the development team at 10am. After that, it could be anything at all!&nbsp;</p><p>"As a Product Manager, you're always juggling several projects, at several stages. I can go from answering queries from Customer Services, to quality checking, t</p>urn:uuid:5bd2c969-b49f-4df4-8bf2-61fd7fcdc721/blog/future-of-law/how-small-law-firms-can-mitigate-the-risks-of-generative-aiFuture of LawWe explore how small law firms can use safe, secure, reliable and accurate generative AI platforms, ensuring they receive the many benefits and avoid potential risks.Mon, 19 Feb 2024 09:00:00 Z<p>The use of generative artificial intelligence (AI) has grown across the legal sector. <a href="[f669d9a7-009d-4d83-ddaa-000000000002]7B419546-9BE7-4547-B040-49D402C6565E/top-ways-in-house-teams-can-apply-generative-ai">In-house lawyers</a> have been utilising the tech for months, large law firms are following suit with increased use, and even smaller firms are employing the tech. According to our report, <a href="/research-and-reports/lawyers-cross-into-the-new-era-of-generative-ai.html?utm_source=linkedin&amp;utm_medium=social&amp;utm_campaign=602739__all_segments__generative_ai_survey_h1_2024" data-sf-ec-immutable="">Lawyers cross into the new era of generative AI</a>, more than a quarter (26%) of respondents are using AI once a month, a rise from just 11% in <a href="/insights/generative-ai-and-the-future-of-the-legal-profession/index.html" data-sf-ec-immutable="">July 2023</a>. To put it simply: generative AI has <a href="[f669d9a7-009d-4d83-ddaa-000000000002]989FB383-18F1-4B05-860D-C7607CBE56BA/how-will-ai-impact-the-future-of-legal-operations">changed the nature of legal operations</a>.&nbsp;</p><p>Respondents from academic institutions and large law firms were the most likely to use AI tools for work, at 33% and 32% respectively. The least stemmed from small law firms. That's likely because smaller firms are typically more cautious than larger firms, often lack the investment capabilities to onboard legal tech, and don't possess the same appetite for risk. </p><p>And, as shown in <a href="/research-and-reports/lawyers-cross-into-the-new-era-of-generative-ai.html?utm_source=linkedin&amp;utm_medium=social&amp;utm_campaign=602739__all_segments__generative_ai_survey_h1_2024" data-sf-ec-immutable="">our report</a>, the legal sector clearly understands the risks. In this article, we explore the report and examine how small law firms can onboard safe, secure, reliable, and accurate AI tools, claiming the myriad of benefits and drastically minimising the acknowledged risks. </p><h4>The risks of generative AI for small firms </h4><p>Small law firms stand to benefit the most from generative AI. Their processes can feel sluggish and inefficient, lacking the benefit of innovation. Admin and comms are often non-standardised, due to the absence of automation, and they're typically not able to invest massive sums in the latest legal tech. Generative AI can <a href="[f669d9a7-009d-4d83-ddaa-000000000002]989FB383-18F1-4B05-860D-C7607CBE56BA/five-tips-how-in-house-lawyers-can-streamline-workflows">quickly streamline</a> or <a href="[f669d9a7-009d-4d83-ddaa-000000000002]7B419546-9BE7-4547-B040-49D402C6565E/how-to-automate-your-law-firm">automate</a> small law firm processes, ranging from contract drafting and management, internal and external chatbots, predictive analysis to improve r</p>urn:uuid:0f628ac6-f455-4eb2-b4e4-f248832043a7/blog/future-of-law/generative-ai-the-expectations-of-in-house-teamsFuture of LawWe explore how using AI platforms that provide effective human oversight, an awareness of real-world impacts, and accurate outputs can boost AI use across the legal sector.Wed, 14 Feb 2024 09:15:00 Z<p>There has been an <a href="[f669d9a7-009d-4d83-ddaa-000000000002]7B419546-9BE7-4547-B040-49D402C6565E/tracking-the-irresistible-rise-of-generative-ai">irresistible and unstoppable rise</a> of generative artificial intelligence (AI) in the legal sector. Our recent report, <a href="/research-and-reports/lawyers-cross-into-the-new-era-of-generative-ai.html" data-sf-ec-immutable="">Lawyers cross into the new era of generative AI</a>, demonstrates that more than a quarter (26%) of lawyers and legal experts use generative AI tools at least monthly, a notable rise from only 11% in our <a href="/insights/generative-ai-and-the-future-of-the-legal-profession/index.html" data-sf-ec-immutable="">July 2023 survey</a>.&nbsp;</p><p>Adoption rates across the sector have more than doubled in the past six months as the legal market has recognised the potential of AI. </p><p>Despite the growth, an aversion to AI remains. <a href="/research-and-reports/lawyers-cross-into-the-new-era-of-generative-ai.html" data-sf-ec-immutable="">Our report </a>shows the <a href="[f669d9a7-009d-4d83-ddaa-000000000002]7B419546-9BE7-4547-B040-49D402C6565E/why-using-ai-should-be-the-expectation-for-legal-counsel">number of in-house teams</a> expecting external counsel to use generative AI reached 70% in the <a href="/insights/generative-ai-and-the-future-of-the-legal-profession/index.html" data-sf-ec-immutable="">July 2023 report</a>, but has declined to 57% in January 2024. </p><p>Mark Smith, Director of Strategic Markets at <a href="/blog" data-sf-ec-immutable="">������Ƶ</a> argues that fears around the accuracy, quality, and security of information explains the declining expectations: "I suspect the number one reason is accuracy and fear of having the wrong advice, particularly heightened by issues with free-to-use generative AI." </p><p>In this article, we dig deeper into key insights from <a href="/research-and-reports/lawyers-cross-into-the-new-era-of-generative-ai.html" data-sf-ec-immutable="">our report</a>, explore the core concerns that have led to a decline in the expected use of AI, and explore how large firms can use AI efficiently and responsibly. </p><h4>Concerns over reliability, accuracy, and security</h4><p>In-house legal teams have been the pioneers of generative AI in the sector. The reasons are simple: in-house teams are generally time poor, deal with high-volume and low-value tasks that are <a href="[f669d9a7-009d-4d83-ddaa-000000000002]7B419546-9BE7-4547-B040-49D402C6565E/how-to-automate-your-law-firm">ripe for automation</a>, and often have the backing of businesses that are more comfortable with innovation, are willing to invest in tech and are less risk-averse than large law firms. </p><p>It was n</p>urn:uuid:abecfa42-efd3-43e5-b7cf-6dbca615976f/blog/future-of-law/small-law-firm-pricing-strategies-in-the-age-of-aiFuture of LawThis article is a recap of our recent lively webinar on small law firm pricing strategies in the age of AI. Read on for the key takeaways from the session.Mon, 12 Feb 2024 16:51:38 Z<p>We were delighted to host a virtual event exploring how small law firms approach pricing strategies in an age where clients demand &lsquo;value&rsquo; more than ever before.</p><p><span style="background-color:initial;font-size:inherit;font-family:inherit;text-align:inherit;text-transform:inherit;word-spacing:normal;caret-color:auto;white-space:inherit;">Our lively session also tackled what the arrival of generative AI means for those running small firms- and why they shouldn&rsquo;t be intimidated by its evolution.&nbsp;</span></p><p><span style="background-color:initial;font-size:inherit;font-family:inherit;text-align:inherit;text-transform:inherit;word-spacing:normal;caret-color:auto;white-space:inherit;"></span><span style="background-color:initial;font-size:inherit;font-family:inherit;text-align:inherit;text-transform:inherit;word-spacing:normal;caret-color:auto;white-space:inherit;">Moderated by Law Firm Strategy and Development Consultant Jon Whittle, our panel of experts included Alex Hamilton, CEO and Founder of Radiant Law, Shaun Jardine, Pricing Consultant of Big Yellow Penguin and Joanna Kingston-Davies, COO of MAPD Group.&nbsp;&nbsp;</span></p><p><span style="background-color:initial;font-size:inherit;font-family:inherit;text-align:inherit;text-transform:inherit;word-spacing:normal;caret-color:auto;white-space:inherit;"></span><span style="background-color:initial;font-size:inherit;font-family:inherit;text-align:inherit;text-transform:inherit;word-spacing:normal;caret-color:auto;white-space:inherit;">Read on for our key takeaways from the session&hellip;</span></p><h4><span style="background-color:initial;font-size:inherit;font-family:inherit;text-align:inherit;text-transform:inherit;word-spacing:normal;caret-color:auto;white-space:inherit;"></span><span style="background-color:initial;font-size:inherit;font-family:inherit;text-align:inherit;text-transform:inherit;word-spacing:normal;caret-color:auto;white-space:inherit;">How can small firms get flexible pricing right?&nbsp;</span></h4><p><span style="background-color:initial;font-size:inherit;font-family:inherit;text-align:inherit;text-transform:inherit;word-spacing:normal;caret-color:auto;white-space:inherit;"></span><span style="background-color:initial;font-size:inherit;font-family:inherit;text-align:inherit;text-transform:inherit;word-spacing:normal;caret-color:auto;white-space:inherit;">In this first section, John Whittle kicked off the session by reminding us that only <a href="/research-and-reports/bellwether-2023.html" data-sf-ec-immutable="">8% of small firms still exclusively bill by the hour</a>. This shift towards more flexible pricing comes at a time of immense pressure, both in terms of recruitment and growing client demands &ndash; with 80% of small firms investing in marketing to keep hold of clients, and three quarters of small firms intending to grow their headcount.</span></p><p><span style="background-color:initial;font-size:inherit;font-family:inherit;text-align:inherit;text-transform:inherit;word-spacing:normal;caret-color:auto;white-space:inherit;"></span><span style="background-color:initial;font-size:inherit;font-family:inherit;text-align:inherit;text-transform:inherit;word-spacing:normal;caret-color:auto;white-space:inherit;">Our panel discussed whether the decision to abandon the billable hour is wise &ndash; and the key considerations to make when introducing flexible pricing models. Here&rsquo;s what they found&hellip;</span></p><p><span style="background-color:initial;font-size:inherit;font-family:inherit;text-align:inherit;text-transform:inherit;word-spacing:normal;caret-color:auto;white-space:inherit;"><strong></strong></span><span style="background-color:initial;font-size:inherit;font-family:inherit;text-align:inherit;text-transform:inherit;word-spacing:normal;caret-color:auto;white-space:inherit;"><strong>1. Adopting flexible pricing: crucial to address the perception gap&nbsp;</strong></span></p><p><span style="background-color:initial;font-size:inherit;font-family:inherit;text-align:inherit;text-transform:inherit;word-spacing:normal;caret-color:auto;white-space:inherit;">As Joanna Kingston-Davies pointed out, &ldquo;from a client&rsquo;s perspective, it [billing by the hour] is absolutely not relevant at all.&rdquo; For those paying for legal services, being billed by the hour can feel restrictive. In fact, according to a ������Ƶ <a href="/bellwether/assets/pdfs/bellwether-report-2015-age-of-the-client.pdf" data-sf-ec-immutable="">poll</a>, this contributes to a significant gap in perception between lawyers and their clients, with 80% of lawyers stating they perceived their service to be &ldquo;above average&rdquo; but only 40% of clients voting the same way.&nbsp;</span><span style="background-color:transparent;color:inherit;font-family:inherit;font-size:inherit;text-align:inherit;text-transform:inherit;word-spacing:normal;caret-color:auto;white-space:inherit;">And with client demands only on the increase this year (with our </span><a href="/research-and-reports/bellwether-2023.html" data-sf-ec-immutable="" style="font-family:inherit;font-size:inherit;text-align:inherit;text-transform:inherit;word-spacing:normal;white-space:inherit;">Bellwether 2023</a><span style="background-color:transparent;color:inherit;font-family:inherit;font-size:inherit;text-align:inherit;text-transform:inherit;word-spacing:normal;caret-color:auto;white-space:inherit;"> report showing that 79% </span></p>urn:uuid:f57b6115-7a33-4127-b441-6fded032a086/blog/future-of-law/the-power-of-your-personal-brandFuture of LawThis article explains why creating a strong personal brand is key to success for independent law firms.Mon, 12 Feb 2024 12:00:00 Zurn:uuid:3bad33fd-a9f8-4221-a31d-603549aac717/blog/future-of-law/tracking-the-irresistible-rise-of-generative-aiFuture of LawOur new report, Lawyers cross into the new era of generative AI, shows the growing appetite for generative AI in the UK legal sector. We examine the rise of AI and examine how lawyers are using the tech with growing confidence.Mon, 12 Feb 2024 09:00:00 Z<p>Our recent report, <a href="/research-and-reports/lawyers-cross-into-the-new-era-of-generative-ai.html" data-sf-ec-immutable="">Lawyers cross into the new era of generative AI</a>, shows a significant and growing appetite for generative artificial intelligence (AI) in the UK, with more than a quarter (26%) of respondents using generative tools at least once a month. This figure has more than doubled from a comparable <a href="/insights/generative-ai-and-the-future-of-the-legal-profession/index.html" data-sf-ec-immutable="">survey from July 2023</a>. Our report also showed that almost two-thirds of lawyers felt increasingly confident using AI platforms grounded on legal research. </p><p>We're witnessing a tidal change in the perception and adoption of generative AI. It's clear while many still appreciate potential risks, general aversion to AI seems to have dissolved, paving the way for <a href="/insights/5fc8e390-9720-4adc-acea-2048bbbc1d97/index.html" data-sf-ec-immutable="">lawyers to reap the benefits</a>. </p><p>In this article, we look at how attitudes in this sector are changing and discuss how the legal sector is exploring, onboarding, and utilising this rapidly evolving tech. </p><h4>The irresistible rise of generative AI </h4><p>Lawyers from small and large firms, legal academies and <a href="[f669d9a7-009d-4d83-ddaa-000000000002]989FB383-18F1-4B05-860D-C7607CBE56BA/five-legal-tech-trends-for-in-house-teams-in-2024">in-house counsel</a>, solicitors and barristers &mdash; all of them, across the sector, are embracing the power of generative AI. They've noticed the time- and cost-saving potential. In the past six months alone, adoption rates have more than doubled.&nbsp;</p><p>The latter half of 2023 saw AI transition from theory to practice. The tech transitioned from a talking point to an action point. In our report from <a href="/insights/generative-ai-and-the-future-of-the-legal-profession/index.html" data-sf-ec-immutable="">July 2023</a> slightly more than one in ten respondents used generative AI monthly, compared to our January 2024 report, <a href="/research-and-reports/lawyers-cross-into-the-new-era-of-generative-ai.html" data-sf-ec-immutable="">Lawyers cross into the new era of generative AI</a>, where the same number (11%) are now using generative AI weekly, with a much higher number (26%) using it monthly. Academic institutions and large firms are proving to be the most common users, at 33% and 32% respectively. </p><p>The current usage shows a sharp upward trend, and based on findings from <a href="/research-and-reports/lawyers-cross-into-the-new-era-of-generative-ai.html" data-sf-ec-immutable="">our report</a>, this doesn't look set to slow down. A significant number of lawyers revealed plans to use generative AI tools in the future: 35% of lawyers alluded to future plans. In-house lawyers demonstrated a particularly strong appetite: 42% suggested they planne</p>urn:uuid:1a56629e-cc38-4b46-805c-5128b9bddfc3/blog/future-of-law/real-models-hannah-tsoiFuture of LawOur REAL Models series showcases the diverse range of roles we have across our business and we hope to improve knowledge around what it means to be part of something bigger. We believe being part of ������Ƶ means being part of the change you want to see in the world.Fri, 26 Jan 2024 00:00:00 Z<p>Our <strong>REAL Models</strong> series showcases the diverse range of roles we have across our business and we hope to improve knowledge around what it means to be part of something bigger.&nbsp;We believe being part of ������Ƶ means being part of the change you want to see in the world. </p><p>In this month's edition, we meet:</p><p style="text-align:center;"><strong>Hannah Tsoi, Software Engineer.</strong></p><p>Hannah joined the company in July 2017 as a Consultant in the Content Solutions team, in the Woking office. Straight out of a software training camp, this was technically Hannah's first job.&nbsp;</p><p>Hannah said, "A year in, I was made a permanent ������Ƶ employee, and since then, they've been stuck with me!"&nbsp;</p><p>As a Software Engineer, Hannah is responsible for producing and maintaining the value that we provide to customers through our software products. Hannah deals with a variety of products and systems, but recently has been part of one of the fantastic teams making Lexis+ AI a reality in the UK!&nbsp;</p><p><em>We've announced the launch of our commercial preview of <a href="/lexis-plus/lexis-plus-ai.html?" data-sf-ec-immutable="">Lexis+ AI in the UK</a>. Lexis+ AI has been carefully trained on UK law and legal cases.&nbsp;</em></p><p>Hannah's also part of the amazing LNUK Pride Employee Resource Group, where she runs events and sits as the communications lead. </p><p>Discover more about our <a href="/about-us/inclusion-and-diversity" data-sf-ec-immutable="">Employee Resource Groups</a>.&nbsp;</p><h4>A typical day</h4><p>"My alarm goes off </p>urn:uuid:eb142943-43f5-40ad-b731-c5c9492704f5/blog/future-of-law/can-digitisation-improve-access-to-family-justiceFuture of LawHere we summarise the discussion between family practitioners during #FamilyLawHour's session on the digitisation of family law proceedings and access to justice.Thu, 18 Jan 2024 12:00:00 Z<p>In early January, just as most people were returning to work after the holidays, a gratifying number of family lawyers logged on to X (formerly Twitter) to join in #FamilyLawHour on the topic of the digitisation of family proceedings and access to justice. </p><p>This family law community event is organised by <a href="https://twitter.com/FamilyLawHour" target="_blank" data-sf-ec-immutable="">@FamilyLawHour</a> and takes place on the first Tuesday of each month, with a different topic and host each time. The #FamilyLawHour team kindly invited me to host this month&rsquo;s event and I chose digitisation as an area that is fast changing the landscape of family law. Having drafted some questions in advance and prepared polls to gather views on key areas, it was great to see both the level of interest in this area and also a general consensus as to both the advantages and disadvantages of digitisation.&nbsp;</p><p><em><a href="/legal/family-law" data-sf-ec-immutable="">View family law practice notes, precedents and news&nbsp;articles</a></em></p><h4>Does online access improve access to justice and increase dispute resolution (DR) outside of court?</h4><p>Generally, there was a positive response to the question of whether online access can improve access to justice and the take-up of non-court DR, but with some reservations as to general accessibility, for example:</p><blockquote style="margin-left:30px;"><span style="background-color:transparent;color:inherit;font-family:inherit;font-size:inherit;text-align:inherit;text-transform:inherit;word-spacing:normal;caret-color:auto;white-space:inherit;"></span><span style="background-color:transparent;color:inherit;font-family:inherit;font-size:inherit;text-align:inherit;text-transform:inherit;word-spacing:normal;caret-color:auto;white-space:inherit;">Alan Larkin&nbsp;</span><span style="background-color:initial;color:inherit;font-family:inherit;font-size:inherit;text-align:inherit;text-transform:inherit;word-spacing:normal;caret-color:auto;white-space:inherit;">@larkinslaw: <em>"</em></span><span style="background-color:transparent;color:inherit;font-family:inherit;font-size:inherit;text-align:inherit;text-transform:inherit;word-spacing:normal;caret-color:auto;white-space:inherit;"><em>100% yes. Legal tech can scale in a way that human resources simply can&rsquo;t match. This is crucial for access to justice."</em></span> <span style="background-color:transparent;color:inherit;font-family:inherit;font-size:inherit;text-align:inherit;text-transform:inherit;word-spacing:normal;caret-color:auto;white-space:inherit;"></span></blockquote><blockquote style="margin-left:30px;"><span style="background-color:transparent;color:inherit;font-family:inherit;font-size:inherit;text-align:inherit;text-transform:inherit;word-spacing:normal;caret-color:auto;white-space:inherit;"></span><span style="background-color:transparent;color:inherit;font-family:inherit;font-size:inherit;text-align:inherit;text-transform:inherit;word-spacing:normal;caret-color:auto;white-space:inherit;">Yaa Dankwa Ampadu-Sackey&nbsp;</span><span style="background-color:transparent;color:inherit;font-family:inherit;font-size:inherit;text-align:inherit;text-transform:inherit;word-spacing:normal;caret-color:auto;white-space:inherit;">@ydankwa: <em>"</em></span><span style="background-color:transparent;color:inherit;font-family:inherit;font-size:inherit;text-align:inherit;text-transform:inherit;word-spacing:normal;caret-color:auto;white-space:inherit;"><em>Online access could improve access to justice but it depends on the extent of the resource. For example will these be available in other languages other than English? To what extent will these be modified for the visually impaired etc."</em></span></blockquote><blockquote style="margin-left:30px;"><span style="background-color:transparent;color:inherit;font-family:inherit;font-size:inherit;text-align:inherit;text-transform:inherit;word-spacing:normal;caret-color:auto;white-space:inherit;"></span>David Hodson&nbsp;@DMHodson: <em>"Online justice is in reality the only justice in the near future. It can provide so much more info and linked resources coupled with interactive forms. There will be soon no cf with the pre digital form of </em></blockquote>urn:uuid:3a00354d-0c76-47cb-8feb-485ba5b4bef1/blog/future-of-law/international-law-book-facility-ilbf-law-undergraduate-essay-competition-2023-2024Future of LawThe ILBF’s law undergraduate essay competition 2023-2024 is a fantastic opportunity for students to engage with an important topic with the chance to win a week’s work experience at international law firm McDermott Will & Emery in London in summer 2024!Tue, 16 Jan 2024 09:30:29 Zurn:uuid:19785149-c29b-47cd-87a7-21f6b3331e6b/blog/future-of-law/going-it-alone-the-rise-of-the-solo-practitionerFuture of LawWe examine the rapid growth of legal consultants, explore the pros and cons of consultancy for lawyers and for clients, and judge just how serious this threat might be.Mon, 08 Jan 2024 00:00:00 Z<p>Our recent report explores <a href="/ai-insider/sign-up.html" data-sf-ec-immutable="">three competitive threats facing City law firms</a>. The steady growth of legal consultants and platform law firms proved a key threat and for good reason. </p><p><a href="[f669d9a7-009d-4d83-ddaa-000000000002]7B419546-9BE7-4547-B040-49D402C6565E/will-a-third-of-lawyers-really-be-legal-consultants-by-2026">Research from Arden</a> describes how 3000 of the UK's 10,000 law firms may close or merge in the next five years, and how consultancy may absorb lawyers or entire teams. This shift is solidified by research from our previous report, <a href="/research-and-reports/platform-law-report.html" data-sf-ec-immutable="">Rise of the legal consultants</a>, which suggests that as many as one-third of lawyers will become legal consultants by 2026.&nbsp;</p><p>City firms face huge <a href="[f669d9a7-009d-4d83-ddaa-000000000002]7B419546-9BE7-4547-B040-49D402C6565E/the-law-firm-recruitment-model">recruitment</a>, retention, and commercial challenges from the consultancy model. The threat looms large, as <a href="[f669d9a7-009d-4d83-ddaa-000000000002]7B419546-9BE7-4547-B040-49D402C6565E/will-a-third-of-lawyers-really-be-legal-consultants-by-2026">increasing numbers of lawyers</a> make the move to revenue-sharing firms. In this article, we track the growth of legal consultants, explore the extent of the threat they pose, and examine some of the pros and cons of the platform model. </p><p><em>Discover <a href="/ai-insider/sign-up.html" data-sf-ec-immutable="">Lexis+ AI Insiders</a>. AI has arrived and the landscape is changing. Stay ahead of the curve. Become an AI Insider today.&nbsp;</em></p><h4>The looming threat of legal consultants </h4><p>Platform law firms provide <a href="[f669d9a7-009d-4d83-ddaa-000000000002]989FB383-18F1-4B05-860D-C7607CBE56BA/the-future-of-law-firm-client-relationships">an alternative operating model</a>. Lawyers work as self-employed consultants, sharing revenue and keeping the bulk of their client fees. All excess funds are spent via a centralised network, which generally provides essential tools that lawyers might need to fulfil and excel in their roles: insurance, branding, <a href="https://www.lexisnexis.com/en-us/accelerator.page" data-sf-ec-immutable="">legal tech</a>, and so on. </p><p>The model has already attracted many lawyers. According to <a href="https://www.legalfutures.co.uk/latest-news/number-of-lawyers-at-fee-share-firms-up-by-45-in-three-years" data-sf-ec-immutable="">Legal Futures</a>, the number of lawyers at fee-sharing firms has increased by 45% in the past three years alone. And the platform law firms themselves are certainly thriving. Consider three major players: <a href="https://www.taylor-rose.co.uk/" data-sf-ec-immutable="">Taylor Rose</a>, who currently employ 350 fee earners; <a href="https://www.keystonelaw.com/" data-sf-ec-immutable="">Keystone Law</a>, who employ more than 400 earners and <a href="https://gunnercooke.com/" data-sf-ec-immutable="">gunnercooke</a>, who employ more than 500. Each of these firms have seen rapid growth of lawyers and expect that to continue.&nbsp;</p><p>So, that begs the question: why are so many lawyers ditching City firms for consultancy? </p><h4>Pros and cons of legal consultancy for lawyers </h4><p><strong>The pros for lawyers</strong> </p><p>Perhaps the most cited advantage of the move to platform law if greater autonomy. The revenue-sharing model allows lawyers to choose clients, set their schedules, work the hours they want, all with no need to request permission from managers. Legal consultants can <a href="/legal/news/remote-working-tips-for-trainees-their-firms" data-sf-ec-immutable="">work remotely</a>, or opt for a <a href="/legal/guidance/hybrid-working" data-sf-ec-immutable href="/legal/guidance/hybrid-working"></a href="/legal/guidance/hybrid-working" data-sf-ec-immutable></p>urn:uuid:92582bb9-761e-4027-80d8-7932bcd4fec9/blog/future-of-law/the-golden-era-for-small-law-firms-using-innovation-to-delight-clientsFuture of LawKush Birdi, Co-Founder & Managing Partner of Birdi & Co has some useful tips for other small firms on how to not only meet clients’ demands, but delight them.Fri, 05 Jan 2024 10:00:00 Z<p>Running a small law firm is like juggling on a unicycle &ndash; it requires balance, focus, concentration and not being afraid to fall off occasionally. But it&rsquo;s our discipline, commitment to clients and genuine passion and enthusiasm that keeps us steady and growing.</p><h4>A golden opportunity for small law firms</h4><p><span style="background-color:initial;font-size:inherit;font-family:inherit;text-align:inherit;text-transform:inherit;word-spacing:normal;caret-color:auto;white-space:inherit;">I dream of a legal industry where lawyers are renowned for the value they provide and not a source of anxiety or frustration, where flexible legal services are the norm and lawyers are seen as progressive and entrepreneurial (not just legal experts).&nbsp;</span></p><p><span style="background-color:initial;font-size:inherit;font-family:inherit;text-align:inherit;text-transform:inherit;word-spacing:normal;caret-color:auto;white-space:inherit;"></span><span style="background-color:initial;font-size:inherit;font-family:inherit;text-align:inherit;text-transform:inherit;word-spacing:normal;caret-color:auto;white-space:inherit;">A surprising number of firms fall into a pattern of complacency by sticking to traditional methods and resisting innovation. This approach neglects the need for continual improvement and adaptation to a changed market.&nbsp;</span></p><p><span style="background-color:initial;font-size:inherit;font-family:inherit;text-align:inherit;text-transform:inherit;word-spacing:normal;caret-color:auto;white-space:inherit;"></span><span style="background-color:initial;font-size:inherit;font-family:inherit;text-align:inherit;text-transform:inherit;word-spacing:normal;caret-color:auto;white-space:inherit;">Clients expect much more nowadays. They want to see personality, humbleness and passion. I am certainly seeing clients that are fed up with the impersonal and frustrating experience they have with large and very reputable firms, and they are clearly craving a deeper connection with their legal team. Firms that fail to meet these evolving expectations will be forgotten.</span></p><p><span style="background-color:initial;font-size:inherit;font-family:inherit;text-align:inherit;text-transform:inherit;word-spacing:normal;caret-color:auto;white-space:inherit;"></span><span style="background-color:initial;font-size:inherit;font-family:inherit;text-align:inherit;text-transform:inherit;word-spacing:normal;caret-color:auto;white-space:inherit;">In contrast, firms that actively seek innovation, adaptability and deeper connections with their clients are more likely to thrive.</span></p><p><span style="background-color:initial;font-size:inherit;font-family:inherit;text-align:inherit;text-transform:inherit;word-spacing:normal;caret-color:auto;white-space:inherit;"></span><span style="background-color:initial;font-size:inherit;font-family:inherit;text-align:inherit;text-transform:inherit;word-spacing:normal;caret-color:auto;white-space:inherit;">Our nimbleness allows us to think ahead, look at the industry and respond quickly to market and client needs. This contrasts with the often-slow moving nature of the medium or larger firms.&nbsp;</span></p><p><span style="background-color:initial;font-size:inherit;font-family:inherit;text-align:inherit;text-transform:inherit;word-spacing:normal;caret-color:auto;white-space:inherit;"></span><span style="background-color:initial;font-size:inherit;font-family:inherit;text-align:inherit;text-transform:inherit;word-spacing:normal;caret-color:auto;white-space:inherit;">So, what have I learnt that can help small law firms capitalise in such a competitive landscape? Read on&nbsp;</span><span style="background-color:initial;font-family:inherit;font-size:inherit;text-align:inherit;text-transform:inherit;word-spacing:normal;caret-color:auto;white-space:inherit;color:inherit;">for my 4 key takeaways.</span></p><h4><span style="background-color:initial;font-size:inherit;font-family:inherit;text-align:inherit;text-transform:inherit;word-spacing:normal;caret-color:auto;white-space:inherit;"></span><span style="background-color:initial;font-size:inherit;font-family:inherit;text-align:inherit;text-transform:inherit;word-spacing:normal;caret-color:auto;white-space:inherit;">1. Mastering client relationships: going the extra mile</span></h4><p><span style="background-color:initial;font-size:inherit;font-family:inherit;text-align:inherit;text-transform:inherit;word-spacing:normal;caret-color:auto;white-space:inherit;"></span><span style="background-color:initial;font-size:inherit;font-family:inherit;text-align:inherit;text-transform:inherit;word-spacing:normal;caret-color:auto;white-space:inherit;">High quality work is a given. But it&rsquo;s the attitudes you adopt in work (and life) that matters most. It&rsquo;s what delivers real value and helps to build trust and long-lasting relationships. It&rsquo;s the more &ldquo;human&rdquo; element of the lawyer-client dynamic that too often gets lost but is the thing that leaves </span></p>urn:uuid:c67e8563-2fc8-4227-b8ef-274468c6fd8d/blog/future-of-law/growing-a-small-firm-attracting-new-business-organicallyFuture of LawEmma Egerton-Jones, award-winning solicitor and founder of Egerton-Jones Consulting speaks to us on what to avoid when bringing in new clients with limited resources – and 5 cost-effective ways to supercharge growth.Wed, 03 Jan 2024 10:00:00 Z<p>With pressure on the UK economic climate, recent years have been a rollercoaster for small and solo firms. Despite that, we&rsquo;ve seen a resilience within the sector, with nearly half of all respondents to our Bellwether report expecting their firms to grow over the next 12 months. </p><p>We spoke to Emma-Egerton Jones, award-winning solicitor and founder of Egerton-Jones Consulting, about what to avoid when bringing in new clients with limited resources. </p><h4>How are some of the most successful small firms overcoming the biggest challenges to growth?&nbsp;</h4><p>Managing a small law firm certainly isn&rsquo;t for the faint hearted! Keeping up with the onslaught of regulations, increasing insurance premiums and ever improving software systems often feels like it&rsquo;s down to sheer resilience and determination. But there are some challenges that present a real opportunity for smaller and more agile law firms!&nbsp;</p><p>There&rsquo;s no avoiding the fact that today&rsquo;s clients are simply harder to please and won&rsquo;t hesitate to seek out a new service provider at the first hint of dissatisfaction. They have higher expectations and a greater need to understand the value of the work, the way it&rsquo;s delivered, and the relationship that comes with it.&nbsp;&nbsp;</p><p>Smaller firms are <a href="[f669d9a7-009d-4d83-ddaa-000000000002]7B419546-9BE7-4547-B040-49D402C6565E/unique-tactics-for-small-law-firms-to-win-new-business">uniquely positioned</a> to take advantage of this. They&rsquo;re closer to the clients allowing for a deeper understanding of their wants, needs and expectations. Rapid growth can be seen in the firms who have identified the need for an efficient but &lsquo;people-centric&rsquo; approach to everything they do.&nbsp;</p><h4>What are some of the most effective ways a small firm can attract new business realistically &ndash; whilst keeping the investment to a minimum?</h4><p>This year is all about reducing wasted effort and extracting more value from the activities you&rsquo;re already doing to attract work, ideally on your existing budget. For example, here are five ways firms can supercharge their growth without additional cost:&nbsp; &nbsp;</p><p><strong>1. Better understand your most profitable clients' wants and needs&nbsp;</strong><strong></strong></p><p>A client listening exercise is always invaluable. Interview key clients to gain detailed </p>urn:uuid:b1aaa41b-1f28-4158-ad44-34567c2ae2e2/blog/future-of-law/five-legal-trends-for-small-law-firms-in-2024Future of LawWe look at the trends set to define the year ahead for small firms, including alternative fee arrangements, the need to drive growth through new business organically, attracting and retaining talent, and more.Mon, 18 Dec 2023 13:08:55 Z<p>We look at the trends set to define the year ahead for small firms, including alternative fee arrangements, the need to drive growth through new business organically, attracting and retaining talent, and more.</p><p>The legal services sector is both competitive and complex. It's evolving at a rapid pace, with the cost-of-living crisis, increasing demands post Covid-19, and the proliferation of legal tech tools being just a few factors at play.&nbsp;</p><p>But as 2023 draws to a close, small firms have shown themselves to be incredibly robust and ambitious as they look to grow through organic means. And there is a growing awareness of the need to invest in the right working practices and systems to increase internal productivity and deliver more value to clients. </p><p>Here, we explore the five trends that will define the next year, and how small firms will rise to the challenge. </p><h4>Leading the way in alternative fee arrangements&nbsp;</h4><p>With only<a href="/research-and-reports/bellwether-2023.html" data-sf-ec-immutable=""> 8% of respondents to our Bellwether survey</a> charging exclusively by the hour, small firms are the pioneers of flexible billing. Over the last decade, it's become the norm for smaller firms to serve a mix of fixed, flat and retainer fees alongside hourly billing. </p><p>With the cost-of-living crisis showing no signs of easing, alternative fee arrangements are here to stay. 92% of small firms have already embraced this, and many who haven't will soon be considering this model.&nbsp;</p><p><strong>Protect your profit margins: hone your pricing strategy with care</strong></p><p>With funding squeezed for smaller firms over the last decade, it's "no surprise that more creative funding solutions have come to the fore, with 'pay as you go' or 'unbundled' services more commonplace," says Geraldine Morris, who heads up the Family Law news desk at ������Ƶ. </p><p>But, while pricing has the potential to <a href="/legal/guidance/the-impact-of-pricing-on-profitability" data-sf-ec-immutable="">positively impact profitability</a>, it's important to exercise caution when embracing alternative legal fees. Being too flexible when it comes to billing can be detrimental. Developing a pricing model that doesn't hurt </p>urn:uuid:29d1aade-7a64-4d3e-82f2-5e7ea415e9e2/blog/future-of-law/how-city-firms-can-counter-the-threat-of-the-big-fourFuture of LawWe examine the historical rise of the Big Four, the challenge they currently pose to City firms, and the strategies City firms can implement to maintain their current stronghold.Wed, 13 Dec 2023 15:46:08 Z<div><p>Our recent report explores <a href="/research-and-reports/the-three-competitive-threats-facing-city-law-firms.html" data-sf-ec-immutable="">three key competitive threats facing City law firms,</a> one of which is posed by the Big Four: <a href="https://www2.deloitte.com/uk/en/explore/home.html" data-sf-ec-immutable="">Deloitte</a>, <a href="https://www.ey.com/en_gl" data-sf-ec-immutable="">Ernst and Young (EY)</a>, <a href="https://www.pwc.com/gx/en.html" data-sf-ec-immutable="">PricewaterhouseCoopers (PwC)</a>, and <a href="https://kpmg.com/xx/en/home.html" data-sf-ec-immutable="">Klynveld Peat Marwick Goerdeler (KPMG)</a>.&nbsp;</p><p><span style="background-color:initial;font-size:inherit;font-family:inherit;text-align:inherit;text-transform:inherit;word-spacing:normal;caret-color:auto;white-space:inherit;">The Big Four are targeting the legal service sector. This isn&rsquo;t a new story, they&rsquo;ve long targeted the sector, never quite achieving the predicted success. But, according to <a href="/research-and-reports/the-three-competitive-threats-facing-city-law-firms.html" data-sf-ec-immutable="">our report</a>, this time is different.</span><br></p></div><div><p>In this article, we explore the initial promise of the Big Four, track their early forays in the market and their consequent shortcomings, explore the key difference between the <a href="[f669d9a7-009d-4d83-ddaa-000000000002]7B419546-9BE7-4547-B040-49D402C6565E/global-law-firms-versus-the-big-four">Big Four and other legal service offerings</a>, examine why City firms need to take their new challenge seriously and suggest strategies they can implement to respond.&nbsp;</p><h4>The early promise of the Big Four</h4></div><div><p><span style="background-color:initial;font-size:inherit;font-family:inherit;text-align:inherit;text-transform:inherit;word-spacing:normal;caret-color:auto;white-space:inherit;">The <a href="[f669d9a7-009d-4d83-ddaa-000000000002]7B419546-9BE7-4547-B040-49D402C6565E/the-impact-of-the-big-four-on-alsps-competition-or-complementary">Big Four entered the legal services market</a> in the late 1990s. It began with optimism and a flurry of hope as they almost immediately gained high-profile clients. The initial success was such that many quickly predicted a huge disruption to the legal market. And this was perhaps no surprise, as their offer seemed persuasive: emphasis on project management, huge brand recognition, economies of scale and competitive advantage, and a global reach.&nbsp;</span><br></p></div><div><p>Their offering differed from the standard law firm. Law firms stuck strictly to legal matters, but the Big Four promised professional services such as auditing and assurance, tax compliance and reporting. Law firms focussed on purely legal solutions, but the Big Four looked to integrated solutions. Law firms seemed localised, at best national, usually operating in a single jurisdiction, but the Big Four traversed geography and <a href="[f669d9a7-009d-4d83-ddaa-000000000002]7B419546-9BE7-4547-B040-49D402C6565E/does-a-global-firm-really-offer-anything-you-wouldn-t-get-from-a-local-outfit">outlined global solutions</a>.&nbsp;<span style="background-color:initial;font-size:inherit;font-family:inherit;text-align:inherit;text-transform:inherit;word-spacing:normal;caret-color:auto;white-space:inherit;">But, despite so much promise and the apparent benefits they could pass on to clients, the Big Four never made the impact predicted. City law firms continued to dominate. The Big Four&rsquo;s failure to seriously penetrate the market stemmed from high-profile accounting scandals, <a href="https://www.wsj.com/articles/arthur-andersens-legacy-20-years-after-its-demise-is-complicated-11661938200" data-sf-ec-immutable="">the collapse of Arthur Andersen</a>, myriad regulatory challenges, reputational damage and ensuing client scepticism, and litigation risks.&nbsp;</span></p><h4><span style="background-color:initial;font-size:inherit;font-family:inherit;text-align:inherit;text-transform:inherit;word-spacing:normal;caret-color:auto;white-space:inherit;"></span><span style="background-color:transparent;color:inherit;font-family:inherit;font-size:inherit;text-align:inherit;text-transform:inherit;word-spacing:normal;caret-color:auto;white-space:inherit;">The realisation of their early promise</span></h4></div><div><p><span style="background-color:initial;font-size:inherit;font-family:inherit;text-align:inherit;text-transform:inherit;word-spacing:normal;caret-color:auto;white-space:inherit;">&ldquo;The last time they tried to enter the legal profession in the 1990s, their strategy was we&rsquo;re just like law firms only bigger. But that&rsq</span></p></div>urn:uuid:c69a7e65-f86a-422d-85fe-216f03ced33e/blog/future-of-law/real-models-simone-davidsonFuture of LawOur REAL Models series showcases the diverse range of roles we have across our business and we hope to improve knowledge around what it means to be part of something bigger. We believe being part of ������Ƶ means being part of the change you want to see in the world.Mon, 11 Dec 2023 17:24:50 Z<p>Our <strong>REAL Models</strong> series showcases the diverse range of roles we have across our business and we hope to improve knowledge around what it means to be part of something bigger.&nbsp;We believe being part of ������Ƶ means being part of the change you want to see in the world. </p><p>In this month's edition, we meet:</p><p style="text-align:center;"><strong>Simone Davidson</strong><strong>, Head of Lexis+ UK Built Environment Group and Lexis+ UK Environment.</strong></p><p>Simone joined the company in 2013 as an external contributor producing content for the Environment module and within a few months became a permanent part of the Professional Support Lawyer (PSL) team. </p><p>Simone said, "Before being tempted by the flexibility of working from home offered by ������Ƶ, I'd been working in the City as an environmental lawyer, which included an interesting mix of contentious, non-contentious and regulatory matters. It's hard to imagine now, but 10 years ago working from home wasn't a concept embraced by private practice law firms. Wanting to work and also be around for my family, meant this type of working environment wasn't sustainable for me."&nbsp;</p><p>Now, Simone is responsible for the Built Environment Cluster in <a href="/products/lexis-plus-practical-guidance.html" data-sf-ec-immutable="">Practical Guidance</a> which consists of managing almost 20 lawyers across six modules:&nbsp;</p><ul><li>Property </li><li>Property disputes </li><li>Construction </li><li>Planning </li><li>Energy </li><li>Environment </li></ul><p>As an expert environmental lawyer, Simone is also the lead for the Environment module, an area which has seen incredible growth over the past few years as environmental issues move from the sideline to become a key area of business' strategies. This involves ensuring the module remains current, covering relevant news, laws and policy.&nbsp;</p><h4>A typical day</h4><p>"My alarm goes off at 7.15 am and I try to get to my desk as soon as possible with a massive cup of tea. My husband takes t</p>urn:uuid:01245173-83b0-4716-a786-d33355fc6397/blog/future-of-law/how-private-practice-lawyers-can-keep-up-with-the-latest-legal-newsFuture of LawWe explore how lawyers at law firms can stay updated with legal news, looking at blogs and websites, newsletters and RSS feeds, social media and artificial intelligence, and more.Mon, 11 Dec 2023 10:26:07 Z<p>We live in an <a href="https://www.thedrum.com/opinion/2022/10/28/content-the-age-saturation-brand-identity-first-strategy-second" target="_blank" data-sf-ec-immutable="">age of saturation</a>. There are so many legal publications, so many legal outlets, so many self-declared experts, and all of them claim monopoly on accuracy. The job of the law firm lawyer once lay in simply finding information. But now the information is all-too-easily accessible. So the contemporary lawyer, in an age of saturation, is tasked with sifting through the noise, filtering fodder, and trying to find relevant, accurate, and up-to-date legal news.</p><p>Trustworthiness of sources has become essential. Due diligence is ever-important. And, with the <a href="[f669d9a7-009d-4d83-ddaa-000000000002]7B419546-9BE7-4547-B040-49D402C6565E/how-will-generative-ai-shift-the-future-of-law">increase of generative artificial intelligence (AI)</a>, human oversight is paramount. So how can lawyers sift through the noise? How can they decipher between the accurate and the misleading legal news, the up-to-date and the outdated? In this article, we look at the various sources of legal news and show how private practice lawyers can <a href="[f669d9a7-009d-4d83-ddaa-000000000002]7B419546-9BE7-4547-B040-49D402C6565E/top-tips-to-keep-lawyers-up-to-date-with-legal-news">find the best information</a>.&nbsp;</p><h4><span style="background-color:initial;font-family:inherit;font-size:inherit;text-align:inherit;text-transform:inherit;word-spacing:normal;caret-color:auto;white-space:inherit;">Blogs for research and analysis</span></h4><p><span style="background-color:initial;font-family:inherit;font-size:inherit;text-align:inherit;text-transform:inherit;word-spacing:normal;caret-color:auto;white-space:inherit;"></span><span style="background-color:initial;font-size:inherit;font-family:inherit;text-align:inherit;text-transform:inherit;word-spacing:normal;caret-color:auto;white-space:inherit;">As mentioned above, finding legal news is not in itself a difficult task. Finding the right legal news, however, is arguably more challenging than ever. Perhaps the most straightforward and efficient way to find news and analysis is by visiting reputable blogs, blogs that you trust.&nbsp;</span></p><p><span style="background-color:initial;font-size:inherit;font-family:inherit;text-align:inherit;text-transform:inherit;word-spacing:normal;caret-color:auto;white-space:inherit;"></span><span style="background-color:initial;font-size:inherit;font-family:inherit;text-align:inherit;text-transform:inherit;word-spacing:normal;caret-color:auto;white-space:inherit;">������Ƶ has blogs dedicated to the <a href="[f669d9a7-009d-4d83-ddaa-000000000002]7B419546-9BE7-4547-B040-49D402C6565E">Future of Law</a>, which explores the latest industry developments, key market trends, technological advancements, and so much more. The <a href="[f669d9a7-009d-4d83-ddaa-000000000002]DAB99E6B-08FF-4788-AE71-6B01D9199FDD">Research and Legal Analysis</a> blog specialises in bringing cutting-edge, data-led, legal intelligence to legal professionals, unpacking the latest challenges and exploring trends.</span></p><p><span style="background-color:initial;font-size:inherit;font-family:inherit;text-align:inherit;text-transform:inherit;word-spacing:normal;caret-color:auto;white-space:inherit;"></span><span style="background-color:initial;font-size:inherit;font-family:inherit;text-align:inherit;text-transform:inherit;word-spacing:normal;caret-color:auto;white-space:inherit;">Both blogs have plenty of articles specifically aimed at private practice lawyers. Here are some recent blogs published by experts that delve into the latest trends in the legal sector:</span></p><ul><li><span style="background-color:initial;font-size:inherit;font-family:inherit;text-align:inherit;text-transform:inherit;word-spacing:normal;caret-color:auto;white-space:inherit;"></span><span style="background-color:initial;font-size:inherit;font-family:inherit;text-align:inherit;text-transform:inherit;word-spacing:normal;caret-color:auto;white-space:inherit;"><a href="[f669d9a7-009d-4d83-ddaa-000000000002]7B419546-9BE7-4547-B040-49D402C6565E/ai-in-the-legal-profession-the-impact-on-small-law-firms">AI in the legal profession</a> provides insight into how lawyers can interact with AI, how AI will change the legal profession, the general opportunities provided by AI, and so much more</span></li><li><a href="[f669d9a7-009d-4d83-ddaa-000000000002]7B419546-9BE7-4547-B040-49D402C6565E/the-top-five-challenges-facing-law-firms-in-2023">The top five challenges for law firms</a> </li></ul>urn:uuid:991c61ee-d4de-4d00-b95e-6836a2e14fc3/blog/future-of-law/50-must-know-legal-tech-stats-for-2024Future of Law50 top legal tech stats all lawyers and legal professionals will need to be aware of in 2024.Tue, 05 Dec 2023 12:37:57 Z<p><strong>We explore 50 of the most mind-blowing and important legal tech stats for 2024, helping you to stay firmly ahead of the curve in the coming year.</strong></p><p>The past few years have felt like <a href="https://theconversation.com/permacrisis-what-it-means-and-why-its-word-of-the-year-for-2022-194306" data-sf-ec-immutable="">perma-crisis</a>, with a health crisis followed by geo-political and economic crises, all in the midst of an environmental crisis. The legal sector has been hit by each crisis and remains in a state of constant flux. But the sector has shown its resilience, its capacity for effective adaptation, and its willingness to innovate and evolve.</p><p>Perhaps the greatest form of evolution has been around legal tech. Legal tech has helped lawyers and firms meet the myriad challenges, such as embracing videoconferencing during several lockdowns, onboarding <a href="[f669d9a7-009d-4d83-ddaa-000000000002]989FB383-18F1-4B05-860D-C7607CBE56BA/is-legal-tech-the-key-to-boosting-in-house-productivity">cost-reducing automations</a> during the cost-of-living crisis, and streamlining <a href="/insights/generative-ai-and-the-future-of-the-legal-profession/index.html" data-sf-ec-immutable="">generative artificial intelligence</a> (AI) in the present moment.</p><p>And legal tech will play a larger role in the future. So, with that in mind, we present 50 stats about <a href="[f669d9a7-009d-4d83-ddaa-000000000002]989FB383-18F1-4B05-860D-C7607CBE56BA/how-in-house-legal-teams-can-find-the-best-legal-tech">legal tech</a> to help with your preparation, inform your decision-making process, and hopefully steer you towards the right tech to meet your needs. <br></p><h4><strong>General legal tech stats</strong></h4><p>1. Four-fifths (81%) of small firm lawyers said that keeping working practices and systems up to date will be a significant challenge in the next 12 months &ndash; <a href="/research-and-reports/bellwether-2023.html" target="_blank" data-sf-ec-immutable="">Bellwether Report 2023</a></p><p>2. Despite strong awareness of the need to invest, only 24% of small firm lawyers have any actual plans to implement new technology in the next 12 months &ndash; <a href="/research-and-reports/bellwether-2023.html" target="_blank" data-sf-ec-immutable="">Bellwether Report 2023</a></p><p>3. A survey of 900 law firms in the UK found that only 37% are currently using legal technology &ndash; <a href="https://www.sra.org.uk/sra/research-publications/technology-innovation-in-legal-services/" data-sf-ec-immutable="">Solicitor&rsquo;s Regulation Authority Legal Tech Survey</a> </p><p>4. Over four-fifths (82%) of in-house lawyers agree that the demand for legal technology skills will increase in their legal teams &ndash;&nbsp;<a href="/research-and-reports/escaping-the-legal-labyrinth.html" data-sf-ec-immutable="" data-sf-marked="">������Ƶ Escaping the in-house legal labyrinth report</a></p><p>5. The biggest benefits of legal tech are &lsquo;makes the team more productive&rsquo; (74%), </p>urn:uuid:4234f989-32f8-4bfa-a4b2-c08ed1c294c2/blog/future-of-law/how-to-branch-into-a-new-practice-area-of-the-lawFuture of LawFind out how to branch into a new practice area of the law with this guide on general upskilling, lateral hiring, mergers and acquisitions, and more.Tue, 05 Dec 2023 12:18:24 Z<p><strong></strong><strong>We explore how lawyers can switch their practice areas, with reference to general upskilling, the possibilities of lateral hiring, opportunities with mergers and acquisitions, and much more.</strong></p><p>There are plenty of reasons to branch into a new practice area. Some lawyers follow market demand, or market trends, perhaps witnessing the <a href="[f669d9a7-009d-4d83-ddaa-000000000002]7B419546-9BE7-4547-B040-49D402C6565E/declining-areas-of-the-law-2024">decline of particular practice areas</a>, or even the over-saturation of lucrative or <a href="[f669d9a7-009d-4d83-ddaa-000000000002]7B419546-9BE7-4547-B040-49D402C6565E/growing-areas-of-the-law-2024">growing practice areas</a>. Other lawyers simply move due to personal interest, perhaps one that has evolved in their initial practice area. Others do so for career growth, perhaps feeling constrained in their previous practice area or hoping for greater upward mobility. And some, of course, switch in the pursuit of more money. </p><p>But branching into a new practice area can be quite difficult. Lawyers need to ensure they are fully informed about the decision and take the right steps to make it happen. In this article, we explore the various routes available for lawyers to branch into a new practice area, looking at upskilling, lateral hiring, <a href="[f669d9a7-009d-4d83-ddaa-000000000002]7B419546-9BE7-4547-B040-49D402C6565E/organic-growth-mergers-acquisitions">opportunities presented by mergers and acquisitions</a>, and so on.</p><h4><strong>Ensure you&rsquo;re making the right decision </strong><strong></strong></h4><p>Switching practice area is a huge commitment. It will require a lot of work and a lot of patience. The first step for lawyers is to consider the decision. Start by assessing your strengths and weaknesses. You might, for example, dislike confrontation and actively avoid public speaking, in which case switching to <a href="/legal/dispute-resolution" data-sf-ec-immutable="" data-sf-marked="" target="_blank">Dispute Resolution</a> is likely a bad idea. You might enjoy numbers and working with clients, in which case <a href="/legal/corporate-law" data-sf-ec-immutable="" data-sf-marked="" target="_blank">Corporate Law</a> might seem attractive.</p><p>Try to understand the various requirements of the new practice area. Look at emerging trends, revenue growth, and aim to talk to someone who works in that area. </p><p>And then perform some last elements of self-critical analysis. Ask yourself whether you&rsquo;re prepared to feel like a novice again, whether you&rsquo;re willing to invest time into learning a new skill, whether your reason for switching justifies the effort, whether ends justify the means. <br></p><h4><strong>Upskill to switch practice areas</strong></h4><p>Once you&rsquo;ve decided to switch practice areas, the first step is to study. It&rsquo;s best practice to form a habit, spending a minimum amount of time each day studying caselaw, regulations, practical guidance, precedents, and any other relevant information. It might be helpful to use a practical guidance tool, <a href="/products/lexis-plus-trial.html" targe href="/products/lexis-plus-trial.html"></a href="/products/lexis-plus-trial.html" targe></p>urn:uuid:c44aac23-c66c-44d6-b652-5dc859cc6eea/blog/future-of-law/courts-have-the-power-to-order-compulsory-adr-churchill-v-merthyr-tydfil-cbc-2023Future of LawChurchill v Merthyr Tydfil CBC [2023] EWCA Civ 1416In a judgment handed down on 29 November 2023 the Court of Appeal, emphasising the courts’ power to govern its own procedure under the Civil Procedure Rules, held that they have the power to stay proceedings for or order that parties engage in alternative dispute resolution.In delivering the leading judgment, with which the Lady Chief Justice and Birss LJ, the Deputy Head of Civil Justice, agreed, the Master of the Rolls held:It was not a necessary part of the reasoning that led to the decision in Halsey that a court did not have the power to stay proceedings for, or order, the parties to engage in an alternative dispute resolution process.  Any comments that suggested otherwise were obiter rather than part of the ratio.  The issue had not been directly before the court in Halsey.  The Court of Appeal, considering the issue in this case where it did arise directly further held:A court did have the power to stay proceedings for, or order, the parties to engage in an alternative dispute resolution process.  The Master of the Rolls analysed domestic case law, cases from the European Court of Human Rights and pre-Brexit cases from the Court of Justice of the European UnionWed, 29 Nov 2023 21:33:43 Z<p><strong><em>Churchill v Merthyr Tydfil CBC </em>[2023] EWCA Civ 1416</strong></p><p>In a judgment handed down on 29 November 2023 the Court of Appeal, emphasising the courts&rsquo; power to govern its own procedure under the Civil Procedure Rules, held that they have the power to stay proceedings for or order that parties engage in alternative dispute resolution.<br></p><p>In delivering the leading judgment, with which the Lady Chief Justice and Birss LJ, the Deputy Head of Civil Justice, agreed, the Master of the Rolls held:</p><ol><li>It was not a necessary part of the reasoning that led to the decision<em> </em>in <em>Halsey </em>that a court did not have the power to stay proceedings for, or order, the parties to engage in an alternative dispute resolution process.&nbsp; Any comments that suggested otherwise were <em>obiter </em>rather than part of the <em>ratio</em>.&nbsp; The issue had not been directly before the court in <em>Halsey</em>.&nbsp; <br><br><p><span style="background-color:transparent;color:inherit;font-family:inherit;font-size:inherit;text-align:inherit;text-transform:inherit;word-spacing:normal;caret-color:auto;white-space:inherit;">The Court of Appeal, considering the issue in this case where it did arise directly further held:</span></p></li><li>A court did have the power to stay proceedings for, or order, the parties to engage in an alternative dispute resolution process.&nbsp; The Master of the Rolls analysed domestic case law, cases from the European Court of Human Rights and pre-Brexit cases from the Court of Justice of the European Union</li></ol>urn:uuid:c4f61142-9167-45ca-a798-db93f8a40964/blog/future-of-law/global-firms-vs-uk-firms-the-battle-for-the-cityFuture of LawWe explore the history of US firms entering the UK legal market, examine their current threat to the long-standing London legal market, and explore the core differences between global firms and UK law firms.Fri, 24 Nov 2023 00:00:00 Z<p>The City's legal legacy is one of the oldest in the world, with origins tracing back to the Elizabethan era. This notoriously cut-throat and hyper-competitive market has been difficult to crack. Over the years, we've seen predictions of many new players poised to take over the market, but despite small shifts, City firms have still dominated.&nbsp;</p><p>However, this time seems different and these new predictions seem credible. Our recent report, <a href="/research-and-reports/the-three-competitive-threats-facing-city-law-firms.html" data-sf-ec-immutable="">The three key competitive threats facing City law firms</a>, showed how one core threat stems from the growing presence of US law firms. Market penetration, in the last few years, has reached surprising new heights. <a href="https://www.thelawyer.com/top-us-law-firms-in-london/" data-sf-ec-immutable="">The Lawyer's latest US 50 report</a> found huge growth figures for US firms in the UK, with 23 experiencing double-digit revenue growth, and seven experiencing a 20%+ turnover.&nbsp;</p><p>In this article, we examine the long-term potential of US firms in terms of market growth and show how they might pose a threat. We also explore the key differences between UK and global firms identified in our report, <a href="/research-and-reports/global-law-firms.html" data-sf-ec-immutable="">The pros and cons of the global law firm</a>. </p><h4>Tracking the growth of US firms&nbsp;</h4><p>The UK's top law firms, including those comprising the <a href="[f669d9a7-009d-4d83-ddaa-000000000002]7B419546-9BE7-4547-B040-49D402C6565E/the-innovative-law-firm-operating-models">Magic Circle</a>, have long faced competition from the US. We've seen a presence of ambitious firms from as early as the 1970s, with the primary aim of serving US banks and multinationals doing business in Europe. Initially, they faced stringent legal restrictions and acted solely as consultants due to their inability to practice English law. </p><p>Liberalisation of regulation allowed for more concrete market penetration through the 1980s and 90s. US firms could now employ people from the UK, allowing them to directly compete. A boom in mergers and acquisitions (M&amp;As) saw further expansion of US firms, with increased competition. </p><p>More M&amp;As followed in the next two decades, along with US firms seeking to <a href="https://www.chambersstudent.co.uk/law-firms/types-of-law-firm/us-firms-in-the-uk" data-sf-ec-immutable="">strengthen their London position through organic growth</a>. They diversified their offering to meet the increasing complexities of global business, venturing into new areas and started to entice top talent from UK firms using <a href="[f669d9a7-009d-4d83-ddaa-000000000002]7B419546-9BE7-4547-B040-49D402C6565E/what-is-the-average-lawyer-salary-in-the-uk">exceptionally high remuneration packages</a>. </p><p>But US entrants were matched with dissolutions. Since 2000, several US firms dissolved or retreated, including Howrey Simon, Troutman San</p>