Client demand for change in the legal industry has been unmet. For law firms willing and able to change, NewLAW/OS will provide them with costs-effective tools to meet client demands, lower costs, free up lawyer time and preserve precious market share in a dynamic legal marketplace.
Traditional law firms are challenged to adapt to new thinking to support a client-centric model and deliver flexibility to support a 21st-century law firm. Traditional firms address market demands:
New business models with new integrated technology will unlock large amounts of stranded value and create sustainable competitive advantages.
This is not a fad. Global mega-trends are empowering individuals and they demand greater choices than ever in our history. There are early adopters but many will wait until the profitability pressures and expense issues provide no other option.
There is no doubt that this market has a pent-up demand for change, innovation, and new models. Research abounds with data and trends supporting the unfulfilled needs in the industry. To address this need, new legal services models are emerging. Supported by Legal IT, changes and new value are being created. Modern thinkers are willing to make the changes needed. These firms/entities and attorneys are beginning to use models that are called newlaw models and clients are seeking newlaw models to fulfill the needs traditional law firm are unable to meet.