NewLaw refers to a modern and innovative approach to the practice of law that departs from traditional legal models. The term encompasses a variety of alternative and progressive legal practices, structures, and methodologies that respond to the evolving needs of clients and the changing landscape of the legal profession.
Flexibility: NewLaw is characterised by its adaptability and willingness to depart from conventional legal practices. It embraces new technologies, business models, and ways of working to provide more efficient and effective legal services.
Client-centric approach: NewLaw places a strong emphasis on understanding and meeting the specific needs of clients. It seeks to provide tailored solutions that align with client goals and deliver value.
Innovation: NewLaw firms and providers often leverage technology and process improvements to streamline legal services. This can include the use of artificial intelligence, automation, data analytics, and other tools to enhance efficiency and accuracy.
Alternative billing models: NewLaw challenges the traditional billable hour model and explores alternative fee arrangements. This can include fixed fees, subscription-based models, and performance-based pricing.
Specialisation: NewLaw entities often focus on specific practice areas or provide niche services to meet particular legal needs more effectively. This specialisation can lead to greater expertise and more targeted solutions.
Remote work and virtual models: NewLaw embraces remote work arrangements and virtual office setups, leveraging technology to enable lawyers to work from anywhere. This can increase flexibility for both legal professionals and clients.
Interdisciplinary collaboration: NewLaw often involves collaboration between legal professionals and experts from other fields, such as technology, business, and data analysis, to provide comprehensive and holistic solutions.
Agile and lean practices: NewLaw adopts agile and lean methodologies, emphasising efficiency, continuous improvement, and responsiveness to client feedback.
Diverse service providers: NewLaw encompasses a range of entities, including alternative legal service providers, legal tech companies, freelance lawyers, consulting firms, and more, that offer innovative and non-traditional legal services.
NewLaw seeks to challenge traditional norms within the legal industry and create a more dynamic and responsive approach to providing legal services. As technology advances and client expectations evolve, NewLaw continues to shape the future of the legal profession by promoting innovation, efficiency, and client-focused solutions.
