Inciteful food for thought from Forbes’ Mark Cohen regarding the crossroads at which the legal profession (legal industry?) finds itself.
The legal sector has two parts: profession and industry. The profession is comprised exclusively of lawyers. The industry is a trinity of legal, technological, and business management expertise. There is a cultural divide between the two; the profession is precedent bound and inward-facing. It is rooted in “how things have always been done” and is generally resistant to change. The industry is driven by a growing market void for reimagined legal delivery and customer demand for delivery models with the capability and scale to provide bundled professional skillsets proactively competently, efficiently, predictably, and cost-effectively.