Law new is a popular catchall industry term that encompasses many of the things that legal firms are doing today that are different from what has been done in the past. It often includes a broad range of ideas from working with underserved communities, offering services outside of traditional practice settings, using nontraditional fees, and other ways to benefit clients. This concept is one that every legal firm needs to understand and use in their own unique way to create value.
It’s also important to recognize that the definition of “law new” is changing rapidly. As the legal industry continues to transform, there will be even more opportunities for companies to take advantage of this concept and deliver innovative solutions that are transforming the way that law is done.
The evolution of the law new concept will result in a legal industry that looks much more like its corporate customers and society at large. It will have a workforce that is more holistically diverse-cognitively, demographically, culturally, and experientially. It will be more creative, tech and data-proficient, and empathetic. This integrated workforce will work more closely with other enterprise business units and across industries to provide accessible, affordable, on-demand, scalable, data-backed, and solution-based legal products and services that address challenges and capture opportunities at the speed of business and society.
In a world where change is occurring at an unprecedented pace, collaboration is becoming increasingly necessary to succeed and thrive in the legal industry. This collaborative process can occur within a single firm, across firms and between legal departments. It can include joint ventures, mergers and acquisitions, alliances, and partnerships with other legal service providers, companies, universities, and government agencies.
Congress is the lawmaking branch of the federal government and is responsible for enacting legislation that governs the United States. To create a law, a bill must be introduced in either the House of Representatives or the Senate. The bill is then assigned to a committee whose members will research, discuss, and make changes to the bill. After the committee has finished reviewing the bill, it will be sent back to the entire chamber for a vote. If the bill passes, it will be enacted into law by the President. If the bill fails, it will be returned to the sponsor for reconsideration and possibly amendments before being reintroduced in the future. This process is known as the “reconsideration period.” Read more about how a bill becomes a law.