Law new refers to a series of strategies designed to offer legal help in ways that are not typical. This might include working with underserved communities, offering services through a tech platform and/or using nontraditional fee structures. These ideas are intended to benefit clients and make up a portion of the overall strategy for a company. This form of practice can be a great way to increase revenue without impacting the primary focus of a company’s main legal efforts. It’s important for all those involved in the legal industry to understand how this concept works and how it can be used to their advantage.
As the pace of change continues to accelerate, a fluid approach to delivery is essential. The speed, complexity and ubiquity of change pose challenges that cannot be mastered by one person, function, enterprise, stakeholder group or nation. This requires collaboration, and the legal industry is no different.
Legal stakeholders and companies are collaborating on projects that span disciplines, geographies, service lines and business units. They are combining their resources, expertise and technology to create a more holistic delivery approach that delivers better value to customers and drives customer impact. This collaboration is being driven by a need to reduce risk and costs, produce higher net promoter scores and drive competitive differentiation. This collaborative effort is what will ultimately transform the legal industry.
The legal industry is not yet ready for a paradigm shift, but the change is happening. It is being driven by an accelerating need to deliver better value to legal consumers and the companies they serve, rather than simply preserving existing business models and outdated legal education and self-regulation. This change is a result of human adaptation, enabled by technology and data, and is the reason why the “law new” concept exists.
New law is often referred to as alternative legal services providers, “legal ops,” or “legal innovation.” These concepts are all valid and can be used to describe the changes being implemented in the industry. However, it is important to remember that these changes are only part of the larger transformation taking place in the legal industry. In order for these changes to be truly meaningful, they need to be part of a holistic strategic plan that is focused on meeting the needs of the legal consumer.
The laws of New York are a system of rules and regulations created by the legislature, known as Congress. The process of creating a bill in Congress begins when a senator or representative sponsors it. Once the bill is introduced, it is assigned to a committee for research, discussion, and possible changes before being voted on. If the bill passes through both chambers of Congress, it will become law.