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Contrary to popular belief, the legal industry in the United States (and around the world) is changing all the time. It is obvious that lawyers, who want to be on the top, must follow the latest industry trends. According to some statistics, the legal industry in the US will create over 285 billion US dollars in revenue by 2018, but this doesn’t mean that law firms will get equal shares. (1) In this article, we will discuss the 4 latest trends that are changing the way lawyers do business.
Outsourcing
Truth be told, this is not a completely new trend, but it seems that it is gaining its momentum in 2017. Thanks to modern technology and improved means of communication, lawyers often outsource specific parts of their work to professionals located in the US or even abroad. This is a growing trend around the globe and the latest prediction is that this market will grow by at least 30% in the next 5 years. (2) This is quite natural because this kind of outsourcing can save money, provide access to talent, improve efficiency and flexibility too. Of course, in order to take advantage of this practice, lawyers must look for professional vendors who know their job.
Law offices with a modern design
Generally speaking, law offices today and in the near future will become smaller. This is partially connected to the previous point where we have pointed out that outsourcing is getting more popular which means that there is no need for additional workspace for all the employees. Central group spaces where attorneys are sharing ideas and organizing meetings will become even more important. In addition, modern law office design should be flexible and allow changes in the layout that are easy and fast. Functionality is more important than visual attractiveness and the overall design is adjusted to modern technology.
Use of modern technology
Almost every successful lawyer today has a website, but this is not the only way in which modern technology can be used by lawyers. For instance, one of the latest trends that are changing the way lawyers do business is online advice. Namely, there are many lawyers that are prepared to provide advice over the Internet. Of course, this is just a preliminary suggestion and most lawyers use it to attract new clients and display their knowledge, expertise, and experience. In addition, some of them offer live chat support and other modern features. Needless to say, modern law offices are equipped with computers, laptops, and mobile devices.
Supporting services
Another interesting trend that has emerged recently is the long list of supporting services that some lawyers provide. They are aware that their clientele has different needs and in order to meet these requirements and needs and ultimately increase their income, many lawyers are offering supporting services in addition to their ordinary legal services. For instance, some of them are providing services that were considered to be typical for real estate agencies.
Don’t forget that these are just some of the new trends that are changing the way lawyers do businesses. If you want to become and stay successful, you have to follow the latest news and changes and implement them in your work.