{"id":201,"date":"2017-04-16T15:00:00","date_gmt":"2017-04-16T14:00:00","guid":{"rendered":"https:\/\/hub.findingsimple.com\/au\/innovative-law-firms\/"},"modified":"2022-08-03T16:04:15","modified_gmt":"2022-08-03T05:04:15","slug":"innovative-law-firms","status":"publish","type":"post","link":"https:\/\/insight.thomsonreuters.com.au\/legal\/posts\/innovative-law-firms","title":{"rendered":"4 Things Innovative Law Firms do Differently"},"content":{"rendered":"

Technological advancement and innovation have been two of the most crucial trends driving change in the legal sector recently \u2013 they are key for law firms intent on growing, staying relevant and remaining competitive in an evolving industry.<\/p>\n

So who are the innovators? And what do they do differently? We look at some of Australia\u2019s most innovative practices and uncover what happens when law firms embrace change.<\/p>\n

Who are the legal innovators?<\/strong><\/span><\/p>\n

In Australia, the 2016 Legal Innovation Index<\/em><\/a> \u2013 which recognises and rewards firms and individuals who demonstrate innovation in the legal industry \u2013 saw a 100 per cent increase in entries. The winners:<\/p>\n

    \n
  1. Allens<\/li>\n
  2. Corrs Chambers Westgarth<\/li>\n
  3. Gilbert + Tobin<\/li>\n
  4. Herbert Smith Freehills<\/li>\n
  5. Pinsent Masons<\/li>\n
  6. Royal Automobile Club of Queensland (in-house legal team)<\/li>\n<\/ol>\n

    So what do innovative law firms do differently?<\/p>\n

    1. They foster a firm-wide culture of innovation<\/strong><\/span><\/p>\n

    Ideas and change don\u2019t necessarily come from the top, or even a single source. A firm-wide focus on continuous improvement is essential \u2013 especially in an industry that is traditionally risk averse \u2013 as the digital revolution creeps into all parts of how we work. Law firms must ask: how can lawyers embrace and benefit from inevitable technological change if they don\u2019t fully understand it?<\/p>\n

    Gilbert + Tobin has answered that question by not only teaching its lawyers about technological advances, but making them part of those changes. The firm created a development program to teach its lawyers and clients to code<\/a>, with 60 of its lawyers learning the basics of computer coding.<\/p>\n

    Another culture-building strategy is to remove organisational silos separating professional and technical staff. Dedicated \u2018innovation groups\u2019 can also encourage the internal collaboration that feeds a culture of innovation.<\/p>\n

    Allens’ in-house multidisciplinary group A-Plus<\/a> \u2013 comprising a team of technologists, consultants, pricing experts and other professionals working alongside the firm\u2019s lawyers to drive innovation \u2013 is an example of a firm rethinking how things are done and identifying opportunities for change.<\/p>\n

    2. They embrace the game changers<\/strong><\/span><\/p>\n

    Much of the talk around innovation in the legal industry focuses on the NewLaw model of business<\/a>. This leaner and more agile version of legal services, which is experiencing significant growth, seems at first glance to be the opposite of everything BigLaw represents.<\/p>\n

    However, some of the industry\u2019s biggest hitters are collaborating with or adapting ideas from NewLaw firms. Highlighted in the 2016 Australia: State of the Legal Market<\/em><\/a> report by Melbourne Law School and Thomson Reuters Peer Monitor\u00ae, these BigLaw collaborators include:<\/p>\n