Actually Business Process Outsourcing is already happening to a limited extent in Hong Kong where services is hollowing out, much the same way that manufacturing did in the 80's. What is left is client-facing interface with the ho-hum grunge law/accounting work being done by cheaper labor in mainland china (not to mention saving on the exhorbitant rental space).
However, I'd just note that the real threats to the law profession are the alternative dispute resolution mechanisms (mediation, etc) as well as legal templates appearing on the web (good enough). Many industry sectors are just finding lawyers to be too-high cost and are lobbying governments to change the rules, eg property convenyancing in Australia can now be done by licensed independents. As a service industry, lawyers are considered in the same league as used-cars sales-people which speaks volumes about its customer-centric mentality, as well as opaque charging/pricing structure.
Innovation in Legal Services: Getting Past the Past
Categories: News, Rumors, Gossip, & Trends Culture Innovation Discussion Legal Services New Products, Services, and Business Models
Lawyers are trained to look to the past for solutions—and to mitigate risk. And for day-to-day work, that makes perfect sense, of course. But for mapping out the future of the legal services industry, strictly following precedence presents this problem:
You can’t move forward if you’re not looking ahead.
In other words, the roots this industry has in the past are stifling its progress. And because law, business and entrepreneurship are now converging, the legal services industry needs to now, more than ever, look to the future and anticipate coming trends to innovate alongside those entities.
How?
First of all, get outside the jar.
To push legal services forward, it’s important to look at not only the industry itself to uncover insights and trends—it’s vital to take stock of what’s happening in other parallel industries for cues and inspiration.
Take outsourcing for example. Most industries providing services are outsourcing lower-level tasks to drive down costs, and this practice can be applied (as some firms already have) to the legal services industry to allow associates and partners to better focus on larger, more complicated tasks. Or, take a look at the imminent trend of globalization: More and more companies are going global due to the connectivity the Internet affords us, and legal services will need to be prepared to go global as well. These and many other insights inspired by parallel industries can help legal professionals re-define and renovate the legal services industry.
Technology and connectivity will continue to evolve, driving the need for the legal services industry to innovate. And the leaders of that change will be leaning forward, while looking outward instead of looking back.
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In the traditional haunts of banking law we are seeing intense competition from a wide and growing number of non legal firms -- accountants, regulatory consultants, legal publishers, corporate financial advisers, bank trade associations -- who are not restricted by the antiquated geographic, marketing, compensation and associational restrictions that the legal profession has imposed on itself. The old professional quality argument does not seem to be winning the day, and the information monopoly has been broken by technology. Lawyers remain dominant only in the very narrow functions where they have managed to legally exclude everyone else -- courtroom litigation being the most obvious example.


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