The 21st Century Law Firm

The 21 st Century Law Firm Presenter: William A. Price, Esq. www.growthlaw.com

What we’ll cover today … ,[object Object],[object Object],[object Object],[object Object],[object Object]

I. Legal Employment and Establishments Nationwide and Illinois Data

New York Times , January 8, 2010: “Is law school a losing game?” Since 2008, some 15,000 attorney and legal-staff jobs at large firms have vanished, according to a Northwestern Law study.

National Employment Projections, 2008-2018 ,[object Object],[object Object],[object Object],[object Object],[object Object]

Significance of NWU Study ,[object Object],[object Object]

Even using pre-2008 trends, law jobs were growing more slowly than other professions ,[object Object],[object Object],[object Object],[object Object]

Illinois Lawyers 1998-2008 ,[object Object],[object Object],[object Object]

Illinois Lawyer Income, 1998-2008 ,[object Object],[object Object],[object Object],[object Object],[object Object]

1998-2008: IL lawyers vs total other IL professions ,[object Object],[object Object],[object Object]

1998-2008 growth: IL law firms vs other IL professions by groups ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

1998-2008: IL law firm income growth vs other professions ,[object Object],[object Object],[object Object]

1998-2008 incomes : IL law firms vs. other IL professions ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

1998-2008 IL Law Firm # growth ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Illinois Lawyer Hiring/Separations ,[object Object],[object Object],[object Object],[object Object],[object Object]

NWU study in an Illinois context ,[object Object],[object Object],[object Object],[object Object]

Conclusions: IL Law Firm Patterns ,[object Object],[object Object],[object Object]

IL Law Firms vs Other Professions: Conclusions ,[object Object],[object Object],[object Object]

II. Ethics And Technology Forecasts

Cycle of Ethics Revisions ,[object Object],[object Object],[object Object]

With new technologies, what will change? ,[object Object],[object Object]

Technology Forecasts: who/how ,[object Object],[object Object]

Technology Forecasts, 2010-2014 ,[object Object],[object Object],[object Object],[object Object],[object Object]

Possible Changes, 2010-2014: Judicial, ARDC, Ethics ,[object Object],[object Object],[object Object]

Law Practice Changes, 2010-2014 ,[object Object]

Technology Forecasts 2015-2019 ,[object Object],[object Object],[object Object]

Possible Changes 2015-2019 Judicial, ARDC, Ethics ,[object Object],[object Object],[object Object]

Possible Law Practice Changes, 2015-2019 ,[object Object],[object Object],[object Object]

Technology Forecasts 2020-2024 ,[object Object],[object Object],[object Object]

Possible Changes 2020-2024: Judicial, ARDC, Ethics ,[object Object],[object Object],[object Object]

Law Practice Changes, 2020-2024 ,[object Object],[object Object],[object Object]

Forecasts, 2025-2040 plus ,[object Object],[object Object],[object Object],[object Object],[object Object]

Possible Changes, 2025-2040 Plus: Judicial, ARDC, Ethics ,[object Object],[object Object],[object Object],[object Object],[object Object]

Possible Law Practice Changes, 2025-2040 Plus ,[object Object],[object Object],[object Object]

III. Law Practice Technologies: Practical And Ethical Methods?

Trend I: The Real Time Enterprise ,[object Object]

Ethics rules to check ,[object Object],[object Object],[object Object],[object Object],[object Object]

Real Time Enterprise Opportunities ,[object Object],[object Object],[object Object]

“ There’s An App For That”: Document Assembly Ethics ,[object Object],[object Object],[object Object],[object Object]

Document Assembly Opportunities ,[object Object],[object Object],[object Object],[object Object]

Technology Trend: Mobile Everything ,[object Object],[object Object],[object Object],[object Object]

Mobile Opportunities ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Social Media ,[object Object],[object Object],[object Object]

Social Media Opportunities ,[object Object],[object Object],[object Object],[object Object]

IV. Law Business Models: Practical and Ethical Growth?

2020 Legal Transformation Study ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Study Methodology ,[object Object],[object Object]

Change: Slow or Fast ,[object Object],[object Object]

Game Changers: Disruptive Events ,[object Object],[object Object],[object Object],[object Object],[object Object]

Trends Identified ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Trends Identified ,[object Object],[object Object],[object Object],[object Object]

Major Uncertainties ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Major Uncertainties ,[object Object],[object Object],[object Object],[object Object],[object Object]

Scenario A: Mega Mania ,[object Object],[object Object],[object Object],[object Object],[object Object]

Scenario B – Expertopia ,[object Object],[object Object],[object Object],[object Object],[object Object]

Scenario C: The E-marketplace ,[object Object],[object Object],[object Object],[object Object]

Scenario D: Techno-Law ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Another Study/Take On This Topic: Eversheads ,[object Object],[object Object],[object Object]

Major Trends Identified ,[object Object],[object Object],[object Object],[object Object]

Globalization ,[object Object],[object Object],[object Object]

Results of GC, Tech Trends ,[object Object],[object Object],[object Object]

Firm Structure Changes ,[object Object],[object Object],[object Object],[object Object],[object Object]

Hildebrandt Baker Robbins 2010 Law Department Survey ,[object Object],[object Object],[object Object]

Hildebrandt study, continued: Increased demand fields ,[object Object],[object Object],[object Object],[object Object]

V. Next Steps: Your Law Firm Business Plan

Big Law Firms A Target Market? ,[object Object]

Law Practice vs Business Data Management ,[object Object],[object Object]

Financial Realities ,[object Object],[object Object],[object Object]

Data Systems Efficiencies ,[object Object],[object Object]

Associations as Market Makers ,[object Object],[object Object]

Associations as market makers ,[object Object],[object Object],[object Object]

General Business Plan Questions ,[object Object],[object Object],[object Object],[object Object]

A classic Gahan Wilson cartoon shows Brontosaurus at podium Caption reads: “ Gentlemen, I have some bad news: The Ice Age is coming, the mammals are taking over, and we all have brains the size of walnuts.”

The 21st Century Law Firm

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