The term “law new” is a broad catchall industry label used to describe innovative ways of practicing law. It is sometimes linked to other industry terms such as “legal tech,” “legal ops,” and “ALSP’s.” The term “new law” has been applied to startups, law firm subsidiaries and companies that augment traditional legal services in addition to the many independent entrepreneurs, attorneys and lawyers who have taken on innovative projects to better serve their clients or the legal profession.
However, the definition of new law is not clear or consistent and differs depending on whom you talk to. In a general sense, it refers to innovations that produce change that benefits legal consumers and society-at-large. It could be in the form of a new way to reach underserved communities, finding creative solutions to complex legal challenges, or developing strategies that disrupt the status quo.
The most important thing to remember about the concept of new law is that it is a process, not a product. It is a journey that requires an agile multidisciplinary team of talented people, a strong focus on technology and innovation, and a commitment to achieving a client’s desired outcome in the best possible manner. The new laws and regulations being enacted by government agencies and private organizations are the fuel for this journey.
In the end, what will matter most about new law is that it produces results that benefit legal consumers and society-at-large. The paradigm shift to customer-centricity will refocus the business of legal away from preserving legacy delivery models and outdated legal education and self-regulation toward a more holistically diverse, collaborative, creative, data-driven, and technology-enabled model with a strong emphasis on client impact and net promoter scores.
The legal industry is undergoing a massive transformation at a staggering speed. The only question is whether it will do so with the agility and speed that its customers demand. It’s up to legacy legal stakeholders to realize that if they don’t take the lead in this paradigm shift, they will become a fading relic of an old and increasingly irrelevant world. It’s time to embrace the “law new.” The clock is ticking.