Thursday, September 23, 2010

What of the future?

As I was reading the paid online version of the Times UK this afternoon, an article by Richard Susskind drew my attention and I cannot resist myself from reproducing a few points from his article without adding any of my own words to it.

They are as follows:

1. The next few years will bring further massive change:

2. LPO will burgeon;

3. Paralegals will be employed more extensively;

4. Clients will share the costs of some legal services;

5. Document and workflow automation will be widely deployed;

6. Social networking will take hold;

7. High definition, desktop-to-desktop video conferencing will transform communication between lawyers and clients.

8. Big cuts in public legal funding will compel lawyers to rethink the ways that they work and urge professional bodies to think more profoundly about the future (the American Bar Association is leading the way with its commission on ethics 20/20) and governments will increasingly be committed to virtual courts and online legal guidance.

9. Leading accountancy firms will renew their interest in the legal sector, largely by offering multidisciplinary services to the mid-market, as well as LPO.

10. Top legal publishers will expand their dominance over online legal service.

11. Private equity firms will make their long-awaited investments, mainly by helping to build high-tech, process-driven legal businesses that can deliver high-volume work at lower prices than conventional law firms.

2 comments:

  1. Reduce in legal process rates will increase the faith of the people in laws of the region, and judgement will come to open discussion and evaluation!

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  2. I do agree with most of the projections except point no.2 . Although because of the huge potential of the lpo filed we might see new entrants but I do believe that we have past that stage and entering the consolidation stage.

    One more trend which is catching up is big MNC's opening up their own LPO divisons Wipro, Infosys, HCL and IBM to name a few.

    With big law firms like Clifford chance establishing their bases for the same.

    Once restrictions on foreign law firms entry is removed we will see a massive... growth in this field...Just matter of time.

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