The legal industry is being disrupted by new ways of working and new types of law. These changes are being referred to as “law new.” However, it can be difficult to pin down exactly what that means. The term can be applied to different things, including legal ops, legal tech, ALSPs and even the use of agile project management methods and the adoption of customer-centric practices. Ultimately, though, law new has one main characteristic: it delivers change that benefits legal consumers and society-at-large.
The underlying goal of law new is to make the practice of law more efficient, effective and affordable by introducing innovative ways of working. By delivering better value, the profession can attract and retain talent and attract and retain clients. Changing the way the legal industry works is a complicated task, but it is one that is well underway.
Many legal stakeholders are now starting to realise that the old model is broken and that there is an opportunity for them to become leaders in the legal industry. They will do this by taking a different approach to their business, and by focusing on the needs of customers. By putting the client at the heart of everything they do, they will be able to create innovative solutions that help them stand out from the competition.
A key component of this is the introduction of technology, which can provide many opportunities for legal firms. This includes the use of AI, which can assist with certain tasks such as fact checking and research. However, it is important that legal firms don’t see technology as an end in itself, and instead view it as a tool to be used as part of a wider strategy.
In addition, it is essential that legal teams understand their clients and the issues that they are facing. This will allow them to offer more targeted advice, which will be beneficial to the clients and their businesses. In order to do this, they should take the time to understand the issues facing their clients and identify how they can best help them with those issues.
This article was written by Sarah Walsh, Senior Editor for the Forbes Digital Studio. Forbes Digital Studio is the world’s leading source of news and commentary on the global economy, politics and lifestyle.
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The New Laws (Leyes Nuevas) were a series of reforms implemented by Viceroy Blasco Nunez Vela in 1542, with the goal of improving Spanish colonial administration and protecting indigenous peoples from slavery and other forms of oppression. The New Laws included the requirement that only the viceroy had the right to establish encomiendas and the prohibition of armed force being sent to reduce Native Americans or their property.
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