ARTICLES
+1000 Articles on the Business of Law.
Update and refresh your knowledge
Search
By Mark A. Cohen
- Jan 9, 2020
- 5 min
2020 Vision: Focus On Defending The Rule Of Law
The legal industry is principally focused on technology, new models, competition, reregulation, the sustainability of the traditional partnership model—issues that impact stakeholder livelihoods and career trajectories. Defending the rule of law is a less concrete, but seminal challenge the industry must focus on in 2020 and beyond. It is law’s version of climate change—an urgent, existential global threat that affects us all. The rule of law is the foundation that supports t
By Mark A. Cohen
- Dec 27, 2019
- 5 min
Holiday Wish List For The Legal Industry
The Stones intoned, “You Can’t Always Get What You Want.” That’s certainly true for the legal industry. Here’s my holiday wish list for its key stakeholders. Photo by energepic.com 1. Law Schools Align with the marketplace Cut cost Prepare students for the profession/industry as it is, not as it was. This requires practice skills and broader business of law exposure including: customer service, business and data analytics basics, digital principles, project management, appl
By Mark A. Cohen
- Aug 10, 2019
- 6 min
What Does "More With Less" Mean For The Legal Industry?
Business is about doing more with less. This is its mantra since the global financial crisis. Tech-enabled, data and process-driven upstarts have unseated a pan-industry array of incumbents and ushered in the digital age. Optimization of customer access, satisfaction, and value are common denominators among the disruptors. Law is about doing less with more. Its labor-intensive approach to problem solving is designed to produce the “best legal product,” no matter the client v
By Mark A. Cohen
- Jul 31, 2019
- 6 min
The Legal Industry is Starting to Collaborate - Why Now and Why It Matters
Collaboration is a fiber of the digital age business fabric. In a global marketplace climate where boundaries separating geographies and industries are melting like glaciers and technological advances are enabling new delivery models to transcend traditional divides, collaboration is essential for competitiveness. Organizations that collaborate internally, with others in the supply chain, and—most especially—with clients—are far more likely to succeed than those that do not.
By Mark A. Cohen
- Apr 25, 2019
- 11 min
Law's Emerging Elite: Enterprise Legal Service Providers, Part 3
Mies van der Rohe, the noted architect, remarked: “Architecture depends on its time.” The same can be said about business structures. The last decade has seen a profound change in business architecture. Facebook, Amazon, Apple, and other tech-enabled, consumer-centric companies have built new business models that have transformed the customer experience and, in the process, recast industry landscapes. There are also a handful of iconic brands that have faced challenge before
By Mark A. Cohen
- Apr 17, 2019
- 6 min
Law's Emerging Elite: Enterprise Legal Service Providers, Part 2
The first article in this three-part series introduced enterprise legal service providers (ELSP’s), proclaiming their entitlement to the “elite” status accorded a cadre of brand-differentiated traditional partnership model firms. This essay analyzes in greater depth the emergent, transformative, and impactful role that enterprise legal service providers play in the global legal marketplace. ELSP’s are redefining the art of the possible in legal delivery, responding to the u
By Mark A. Cohen
- Mar 23, 2019
- 6 min
Law's Emerging Elite: Enterprise Legal Service Providers, Part 1
Anyone familiar with the legal industry can tick off the names of its elite law firms. They have distanced themselves from other firms by their demonstrated differentiated practice expertise essential in high-value legal practice matters. Legal acumen has long been the standard of excellence in law. Escalating demands on corporate legal consumers to “do more with less” have raised their expectations and performance bars to levels that even elite law firms cannot wholly satisf
By Mark A. Cohen
- Mar 8, 2019
- 6 min
"Legal Services" Are Whatever Buyers Need To Solve Business Challenges
Lawyers have a penchant for defining terms. Why then is there no commonly accepted meaning for “legal services?” One reason is that, until relatively recently, legal services were delivered principally by lawyers working at firms. The Cambridge English Dictionary, for example, still defines “legal services” as “work done by a lawyer for a client.” It’s time for a broader definition that recognizes legal service is the integration of practice and the business of delivering pro
By Mark A. Cohen
- Feb 21, 2019
- 6 min
Clients Need Legal Services But Not Necessarily Lawyers
A recent New York Times Opinion piece, “Everyone Needs Legal Help. That Doesn’t Mean Everyone Needs a Lawyer” spotlights Rebecca Sandefur, a sociologist whose career has focused on studying lawyers. The “genius” MacArthur fellowship she received for her work is evidence that one need not have a law license to opine meaningfully about the legal profession/industry. Ms. Sandefur published an article making the case that lawyers are not required to resolve many common legal issu
By Mark A. Cohen and Joek Peters
- Feb 14, 2019
- 10 min
What Are Law Schools Training Students For?
An email conversation between Mark A. Cohen, Thought Leader | CEO Legal Mosaic and Joek Peters CEO LegalBusinessWorld around Marks’ article ‘What Are Law Schools Training Students For?’ (Forbes) The legal profession and the trillion-dollar global industry are undergoing a transformation. The seminal elements of legal practice—differentiated expertise, experience, skills, and judgment—remain largely unchanged. The delivery of legal services is a different story altogether. New
By Mark A. Cohen
- Feb 11, 2019
- 6 min
The Paul Weiss Class Of 2018: A Broader View Of Big Law Partnership And Priorities
Paul Weiss issued a press release on December 7, 2018 announcing the promotion of a dozen associates to partnership, effective January 1, 2019. Such announcements rarely receive attention beyond the new partners and their family, friends, and professional colleagues. This was different. When Paul Weiss posted a photo on LinkedIn of its all-white crop of newly-minted partners-- 11 men and one woman-- it created a firestorm. The New York Times published a front-page article “
By Mark A. Cohen
- Jan 31, 2019
- 6 min
Law's Odd Couple: Will New Law Hires Transform Traditional Law Firms?
Baker McKenzie, progenitor of the global law firm, created a buzz recently with a spate of “new law” hires. First, it tabbed David Cambria as its inaugural Global Head of Legal Operations, overseeing strategies for pricing, legal project management, and other “business of law” functions. Cambria, a corporate legal ops veteran, will, in the words of his new employer, bring a “voice of the client” to the firm and the clients it serves. Cambria is now joined by Casey Flaherty an
By Mark A. Cohen
- Jan 24, 2019
- 6 min
How Will Legal Providers Be Affected By The Next Recession?
How will the legal industry be affected by the next recession? The thought came to mind several times recently as the stock market recorded its worst December since the Great Depression. Stocks have rebounded during the early weeks of 2019, but political turmoil at home; Brexit and its chaotic implications for the UK, Europe, and beyond; the slowing Chinese economy and the threat of a U.S.-China trade-war; and other destabilizing factors remain. So too does the question of wh
By Mark A. Cohen
- Jan 15, 2019
- 5 min
What Does It Say When A Legal Blockchain eBook Has 1.7M Views?
“Blockchain For Lawyers,” a recently-released eBook by Australian legal tech company Legaler, drew 1.7M views in two weeks. What does that staggering number say about blockchain, legal technology, and the legal industry? Clearly, blockchain is a hot legal topic, along with artificial intelligence (AI), and legal tech generally. It’s also a hot investment; last year a record $1B was pumped into legal tech. The global enthusiasm for tech is manifest in the throngs that attended
By Mark A. Cohen
- Jan 10, 2019
- 6 min
A Banner Year For Law Firms? A Different Take On The 2019 Citi Report
The 2019 Citi Hildebrandt Client Advisory, (Citi Report) an annual survey of law firm fiscal performance, drew considerable industry attention following its December release. The opening sentence of the Executive Summary is the likely reason: “The US law firm industry is enjoying its strongest growth in almost a decade.” The Report ticked off a slew of positive indices: an average 6.3% revenue growth; 4.3% billing rate increase during the first nine-months of 2018; a 3.3% inc
By Mark A. Cohen
- Dec 11, 2018
- 6 min
Are In-House Departments Contemporary Law Firms?
There is plenty of data confirming the migration of work from law firms to corporate legal departments. Once regarded as law’s junior varsity, the in-house role has become a coveted alternative to the grind and uncertainty of Big Law. As Huey Lewis said, “It’s hip to be square.” What is less often considered is how and why corporate legal departments have wrested the reins of the profession—and industry—from law firms. Are in-house departments contemporary law firms, albeit c
By Mark A. Cohen
- Dec 5, 2018
- 7 min
There Is Nothing "Alternative" About New Model Providers -- Especially the Big Four
Thomson Reuters will soon release its second biennial “Alternative Legal Service Study.” The inaugural study popularized the “alternative legal service provider” (ALSP) moniker to describe a new breed of “legal” providers with different economic models, structures, expertise, and DNA than traditional law firm partnerships. The study separates ALSP’s into different categories: captive and independent legal process outsourcers (LPO’s), managed legal services, staffing companies
By Mark A. Cohen
- Nov 8, 2018
- 3 min
New Business Models - Not Technology - Will Transform the Legal Industry
New business models are the key to innovation, not new technology. That’s the conclusion of a recent Wall Street Journal CIO article that draws from business guru Mark Johnson’s new book “Reinvent Your Business Model.” Johnson offers several cogent observations on business transformation: (1) a business model is “a representation of how a business creates and delivers value for a customer while also capturing value for itself, doing so in a repeatable way;” (2) successful bus
Mark A. Cohen
- Nov 4, 2018
- 8 min
You Can Tell a Roomful of Millionaires Their Business Model is Wrong | Takeaways from Singapore
Singapore’s cityscape is a glimpse into the future, tinged with remnants of a bygone colonial age. Its buildings are tall, bold, and push the boundaries of architectural imagination. The postmodern Supreme Court building (See Picture) is emblematic of Singapore’s emergence as a regional dispute resolution and commercial legal business hub. The bold, efficient architecture and ubiquitous high-tech features reflect Singapore’s plans to become a key player in the emerging global
{"items":["5f200766b255010017cdae47","5f20076a5f4e8700175d2d3e","5f20076c95e7e3001712a118","5f200771626bcd00180917f1","5f20077253478f0018701e75","5f200777c22b7c00173f7eb0","5f200777e2b2860017e0c07a","5f20077a84ace6001798a33a","5f20077ae2b2860017e0c084","5f20077bd755500017ece712","5f20077c871f1b0017a5e2aa","5f20077c9812b000175b95cc","5f20077df6790c0017b28931","5f20077e69980f00179ddf14","5f20077e2ecf2f0017b43f7b","5f20077effb7fb0017416f0b","5f20077f9812b000175b95d0","5f2007806e37b10017a87027","5f200781065d120017342951","5f20078284ace6001798a345"],"styles":{"galleryType":"Columns","groupSize":1,"showArrows":true,"cubeImages":true,"cubeType":"fill","cubeRatio":0.75,"isVertical":true,"gallerySize":30,"collageAmount":0,"collageDensity":0,"groupTypes":"1","oneRow":false,"imageMargin":10,"galleryMargin":0,"scatter":0,"rotatingScatter":"","chooseBestGroup":true,"smartCrop":false,"hasThumbnails":false,"enableScroll":true,"isGrid":true,"isSlider":false,"isColumns":false,"isSlideshow":false,"cropOnlyFill":false,"fixedColumns":0,"enableInfiniteScroll":true,"isRTL":false,"minItemSize":50,"rotatingGroupTypes":"","rotatingCropRatios":"","columnWidths":"","gallerySliderImageRatio":1.7777777777777777,"numberOfImagesPerRow":3,"numberOfImagesPerCol":1,"groupsPerStrip":0,"borderRadius":0,"boxShadow":0,"gridStyle":0,"mobilePanorama":false,"placeGroupsLtr":true,"viewMode":"preview","thumbnailSpacings":4,"galleryThumbnailsAlignment":"bottom","isMasonry":false,"isAutoSlideshow":false,"slideshowLoop":false,"autoSlideshowInterval":4,"bottomInfoHeight":0,"titlePlacement":"SHOW_BELOW","galleryTextAlign":"center","scrollSnap":false,"itemClick":"nothing","fullscreen":true,"videoPlay":"hover","scrollAnimation":"NO_EFFECT","slideAnimation":"SCROLL","scrollDirection":0,"scrollDuration":400,"overlayAnimation":"FADE_IN","arrowsPosition":0,"arrowsSize":23,"watermarkOpacity":40,"watermarkSize":40,"useWatermark":true,"watermarkDock":{"top":"auto","left":"auto","right":0,"bottom":0,"transform":"translate3d(0,0,0)"},"loadMoreAmount":"all","defaultShowInfoExpand":1,"allowLinkExpand":true,"expandInfoPosition":0,"allowFullscreenExpand":true,"fullscreenLoop":false,"galleryAlignExpand":"left","addToCartBorderWidth":1,"addToCartButtonText":"","slideshowInfoSize":200,"playButtonForAutoSlideShow":false,"allowSlideshowCounter":false,"hoveringBehaviour":"NEVER_SHOW","thumbnailSize":120,"magicLayoutSeed":1,"imageHoverAnimation":"NO_EFFECT","imagePlacementAnimation":"NO_EFFECT","calculateTextBoxWidthMode":"PERCENT","textBoxHeight":300,"textBoxWidth":200,"textBoxWidthPercent":50,"textImageSpace":10,"textBoxBorderRadius":0,"textBoxBorderWidth":0,"loadMoreButtonText":"","loadMoreButtonBorderWidth":1,"loadMoreButtonBorderRadius":0,"imageInfoType":"ATTACHED_BACKGROUND","itemBorderWidth":1,"itemBorderRadius":0,"itemEnableShadow":false,"itemShadowBlur":20,"itemShadowDirection":135,"itemShadowSize":10,"imageLoadingMode":"BLUR","expandAnimation":"NO_EFFECT","imageQuality":90,"usmToggle":false,"usm_a":0,"usm_r":0,"usm_t":0,"videoSound":false,"videoSpeed":"1","videoLoop":true,"jsonStyleParams":"","gallerySizeType":"px","gallerySizePx":292,"allowTitle":true,"allowContextMenu":true,"textsHorizontalPadding":-30,"itemBorderColor":{"value":"rgba(138,138,138,1)"},"showVideoPlayButton":true,"galleryLayout":2,"calculateTextBoxHeightMode":"MANUAL","textsVerticalPadding":-15,"targetItemSize":292,"selectedLayout":"2|bottom|1|fill|true|0|true","layoutsVersion":2,"selectedLayoutV2":2,"isSlideshowFont":true,"externalInfoHeight":300,"externalInfoWidth":0},"container":{"width":1,"galleryWidth":11,"galleryHeight":0,"scrollBase":0,"height":null}}
