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Smarter Law: Transforming Busy Lawyers into Business Leaders


ISBN13: 9780314843913
Published: July 2018
Publisher: Thomson West
Country of Publication: USA
Format: Paperback
Price: £72.00



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The definitive legal performance improvement solution cascades the transformation of individual personal skill sets into major improvements in corporate legal department and law firm performance, leading ultimately to new, mutually profitable client-law firm relationships. To do so, Smarter Law uses the broadest possible range of proven techniques spanning "left brain" thinking (logic, big data analysis, agile, design, econometrics) and "right brain" approaches (emotions, neuro-linguistic programming, stoic philosophy, Rorschach inkblots). From emotional intelligence to artificial intelligence, soft skills and hard data, this is modern behavioral economics in the Freakonomics and Malcolm Gladwell mold. It’s practical … and funny too. Smarter Law comprises proven methods, data, and case studies for practical application to improve legal services: “The Magnificent Seven” ways a lawyer can become an indispensable business partner and trusted adviser “The Maleficent Seven” behavioral resistances to essential change and how to overcome them Techniques that grew the Big Four professional services firms to over $30 billion in revenue that effectively cost nothing for law firms to implement Modernizing law firm business development to provide what clients really want, not just discounts How a client paid its law firm $4.75 million for work that only amounted to $350,000 of billable time and still saved itself $78 million Technology solutions with a return on investment of 507 percent Tender processes in which the client was able to pay law firm bidders more than their proposals and still reduce its spend by 44 percent In 2010, Trevor Faure's first book (The Smarter Legal Model: more for less) pioneered law firm panel convergence and legal work disaggregation. That previous book was described by Ben W. Heineman, Jr., former GE senior vice president for Law as showing “... the holy grail of business productivity.” Since 2011, as global leader of Legal Services for EY and then as head of independent consultancy Smarter Law Solutions, Faure has helped transform the performance of over 250 law firms, in-house legal departments, and individual attorneys around the world, and create client-firm relationships that deliver greater client value while enhancing law firm profitability. The results of these successes represent the definitive performance improvement solution: Smarter Law. Not just "more for less" anymore, but a quantum leap to “better quality and rewards for less” for the first time.

Subjects:
Legal Practice Management
Contents:
CONTENTS
Introduction
Section A. The Smarter Lawyer
Chapter 1. How Does a Lawyer Get Closer to the Business, Demonstrate Value
and Become a Trusted Adviser? The Magnificent Seven
Chapter 2. Why Do We Typically Resist Change, Even Obvious, Necessary
Change? The Maleficent Seven
Chapter 3. Emotional Intelligence, Improving Personal Performance, and
Satisfaction, a.k.a. Lawyers Are Human, Too
Chapter 4. Artificial Intelligence: The Smartest Legal Professional?
Section B. The Smarter Legal Department
Chapter 5. How General Counsel Define Their Mission
Chapter 6. Demystifying Performance Improvement Techniques and Modelling
Your Legal Function
Chapter 7. Transformation Steps: Define, Measure, Analyse, Improve, and
Control
Section C. The Smarter Law Firm
Chapter 8. What’s Wrong with Law Firms? A Solution to Traditional Law Firm
Short-Termism
Chapter 9. The Prizes and Paradoxes of the “New Normal”
Chapter 10. The New Legal Work Value Chain: Cream, Core & Commodity Plus
Consulting, Computing & Contractors
Chapter 11. Modernising Business Development
Chapter 12. The Evolution of the “Big Four” Professional Services Networks
and the Lessons for Law Firms
v
Chapter 13. Designing a Legacy-Free Law Firm from First Principles
Section D. A Smarter Law Firm — Client Relationship
Chapter 14. Marriage Without Mutually Assured Dissatisfaction
Chapter 15. Identifying and Eliminating the Traditional Zero Sum Game
Chapter 16. The “Win:Win:Win” RFP Process
Chapter 17. Win3 Fee Structures and Benchmarks
Summation and Conclusion
Appendices
Appendix 1. ACC Value Champions 2018
Appendix 2. Avis Budget Case Study
Appendix 3. Legal Training Examples
Appendix 4˙. Alternative Fee Portfolio
Appendix 5. Harvard Law School Case Study – A SMARTER Approach
Index