Impediments To Legal Industry's 'Inevitable' Future: Part 1

By Craig Levinson (June 7, 2018, 12:09 PM EDT) -- Legal pundits continue to make predictions about the newer entrants into the industry — those featuring lower cost and higher efficiency solutions often driven by technology. The general consensus is that these companies will progressively seize greater amounts of market share from traditional law firms. In the book "Remaking Law Firms: Why & How" George Beaton and Imme Kaschner build a legal landscape scenario for 2025. It's a world where "the billable hour as the predominant way of pricing legal services is a distant memory," "NewLaw startups are the dot-coms of the roaring twenty-twenties," and "lawyers joke about BigLaw firms having gone the way of the Hollywood studios of old."[1]...

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