Walker Clark
Worldview Archives
Will the '“law firm of the future” need fewer lawyers?
A report from the American Bar Association suggests that the demand for lawyers, at least in the United States, might have begun to subside. 38,020 students started their first year of law school during the autumn 2022 term, compared to 42,718 in 2021, according to the report. Meanwhile, there has been a significant increase in enrollments in non-J.D. programs.
Although this data is limited to the U.S., Walker Clark LLC has begun to notice what might be the start of a similar trend in some other jurisdictions as well. What could this mean for your law firm?
Yes, diversity really is a priority.
The old excuse, still heard in many law firms around the word, that "diversity is not a priority for our clients or our firm" is not only misinformed, but in some cases could be a formula for long-range failure.
The Law Firm of the Future: Sustainable Profitability
Your law firm is making money today.
But what about next year?
What about ten years from now?
Do you even know how you are profitable today?
A Four-Day Work Week for Law Firms?
There has been considerable discussion recently about whether a four-day work week promotes greater individual and group productivity.
Some of this appears to be relevant to law firms.
What would your law firm have to do to move to a four-day work week?
Will the “lawyer of the future” be a computer?
Artificial intelligence will be as much a part of the "law firm of the future" as desks and paper have been for the past 200 years.
It also can be part of the "law firm of today."
This is one of ten most frequently read posts in the Worldview Archives, with more than 11,000 views since it was first published in 2017
The “Freshfields Checklist”
Freshfields has announced a significant decline in profits, even as fee revenues increased slightly. Moreover, members of the firm's management team are taking an increase in their compensation.
Is it time to panic? Has the firm management gone mad?
We don't think so.
The Incredible “Shrinking” Law Firm
The law firm of the future will have only three things: a lawyer, a computer, and a dog.
Should your firm have a non-lawyer CEO?
When should your law firm start thinking about hiring a full-time non-lawyer CEO to run your business?
The answer is highly specific to the firm, its location, and its practice areas. However, in our experience advising law firms about this issue, we have observed four indicators that it is time to give serious consideration to hiring a non-lawyer CEO.
The Six Classic Drivers of Law Firm Profitability
Six factors have the greatest overall impact in the profitability and long-term financial performance of small and midsize law firms worldwide.
This is one of the ten most frequently read posts in the Worldview Archives, with more than 12,000 views since it was published in 2014.
