Inside the Law Firm of the Future By Susan Saltonstall Duncan RainMaking Oasis, Inc. For the College of Law Practice Management October 23, 2010 www.rainmakingoasis.com 1 The Market is Changing How Clients Will Obtain Legal Services Technology, automation Knowledge sharing Globalization, off- shoring, outsourcing Pricing for value delivered Efficiency and process engineering Law firms owned and run by non-lawyers www.rainmakingoasis.com 2 Traditional Law Firm Structure: top down for maximum leverage/profit Partners Associates/ Counsel Staff/Contract Attorneys, Litigation Support/eDiscovery Legal Research/Paralegals/ Others: consultants, agents, etc. www.rainmakingoasis.com 3 Evolution of Legal Services by Richard Susskind Bespoke Standardized Systematized Commoditized Shrink-Wrapped Brand; Trusted Advisor or Thought Leader; Hourly www.rainmakingoasis.com Packaged Fixed Fee 4 1. Advocacy 2. Counseling 3. Process 4. Content (Low) Importance (High) FMC Technologies GC: Jeff Carr’s 4 Buckets : All Legal Services Fall in a Box (Low) Knowledge and Judgment www.rainmakingoasis.com 5 (High) The Law Firm of the Future What does the client need? www.rainmakingoasis.com 6 Deliverables? Skills required? What value can we deliver for a given cost? Am I the right person to do this? Am I adding value? Can someone (or something) else do this better, cheaper, faster? The Law Firm of the (Present?) Future © RainMaking Oasis, Inc. www.rainmakingoasis.com 7 Who Will Provide Legal Services Inside the Future Law Firm? Fewer partners, fewer More high level business associates (only “partners-in-training”) More staff attorneys , lit support More consultants, specialists, paralegals Process analysts, managers, engineers and decision analysts Budgeting & finance managers Project managers www.rainmakingoasis.com professionals supporting clients and law firm: Chief Value/Pricing Officer Client Services Officer Knowledge Management Officers Department Operating Officers Practice Group/ Department Business Managers Competitive Intelligence specialists 8