Ron Friedman’s post on the Prism Legal blog poses an interesting question: will unbundling routine services from bespoke work, normally charged at the same rate, undo BigLaw?In this post, I argue that unbundling is the only thing that can save BigLaw in the wake of increasing law department efficiency.
Ron draws on a recent New York Times article, More Cracks Undermine the Citadel of TV Profits that offers the legal market lessons on how unbundling can shake-up established players. BigLaw has always faced pressure from smaller, more nimble firms but it’s been able to cope with that pressure pretty well. This is akin to cable companies facing pressure from alternatives like iTunes and Hulu; the bundle still holds strong but something new is lurking on the horizon.
John McCain just introduced the Television Consumer Freedom Act of 2013 into congress. If passed, the law will give cable customers the option of subscribing to channels a la carte i.e. unbundling. While cable customers have to wait for this bill to pass or risk spending even more on a la carte shows on iTunes, in the legal industry, the unbundlers are already here!
If the emergence of LPOs and firms like Axiom isn’t enough to get BigLaw to unbundle, it only has to look at some of the contract automation technology making its way into law departments today. ContractExpress is one such technology and it allows business users to request contracts via Safe Self-Service Contract Creation. By eliminating the review of standard contracts, ContractExpress frees in-house attorneys for higher value work that would otherwise be outsourced to BigLaw.
We are very pleased to announce the introduction of the Business Integrity Most Valued Professional Awards. This award is given to the brightest stars in the ContractExpress community who actively share their high-quality, real-world technical expertise. With this award we recognise their outstanding contributions through various mediums.
The first MVP award will be given to Adrian Stafford from Linklaters for his contributions to the pilot of the online Knowledge Base at the next meeting of the EMEA Customer Advisory Forum in November (more details on the KB will be announced soon).
We will be on the lookout for more candidates for this prestigious Award as we are looking to award at least one more before the end of the year.
Thanks to everyone who stopped by and visited our booth at last week’s IBA Annual Conference in Dubai. It was a fantastic event in a superb location, and we hope you all enjoyed it as much as we did.
This year’s event had a record number of delegates with over 5500 legal professionals in attendance. The week-long conference was host to a huge number of sessions, workshops and panels, addressing issues ranging from arbitration to M&A law, from human rights to the ethics of the legal profession, issues for General Counsel and practice management,
There was a huge amount of interest in our document assembly solution ContractExpress. Such was people’s eagerness to try out the solution for themselves, for the first time we gave all our visitors free access to our cloud solution ContractExpress.com. We set users up with a standard agreement, delivered a brief tutorial on our authoring software and users were ready to go and able to show off their new discovery back home with their colleagues.
If you weren’t in Dubai last week and missed out, don’t worry! Everyone can try out our solution free of charge for 30 days by signing up for a free trial at ContractExpress.com. And if you sign up for a year’s subscription you could even win an IPad 2 – simply use the code BI 2011 to enter the draw.