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The Law Firm of the Future
"The extent to which there will be widespread disruption to law firms depends on the extent to which deregulation or 'uberisation' of legal services takes place. If the provision of legal services moves towards an 'uberised' model, law firms are likely to face increased competition. The competitors are likely to develop programmes that can, for example, produce agreements or legal documents for a wide variety of different situations that are reasonably standardised, which form the bulk of what transactional lawyers do today ... but I do not believe that an 'uberised' world of legal services is feasible in the near future because of regulatory concerns nor do I think the public is ready for such drastic dis-intermediation. This means there is a window of opportunity for law firms. Firms should work with companies developing such technology so that services can be provided at lower cost. This will help with the erosion of margins."
You can read the full text of this highly engaging and accomplished presentation by Prof Tan Cheng Han, Senior Counsel and Chairman of the Centre for Law and Business, National University of Singapore at http://www.canon.com.sg/thinkbig/
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