
Become the Ben & Jerry’s of the legal world
I recently found myself in the frozen food aisle of Tesco making the big decision – Ben & Jerry’s, or Häagen-Dazs? As a product I can’t ‘try before I buy’, I realised I was making a decision based upon brand, and my awareness of the two. Unknown to most, Ben & Jerry’s was originally the underdog to Häagen-Dazs, but with its creative marketing and branding, it quickly accelerated its growth and became incredibly successful in a market that was rather saturated.

Is now a good time to start a law firm?
With the government, the Competition and Markets Authority, the Legal Services Board, the Law Society and the legal services regulators all flashing their sequined blouses like contestants on Strictly Dumb Downing, the idea of leaving a ‘secure’ job and setting up a new law firm is likely to feature alongside bareback-rodeo and base-jumping on most people’s personal risk register. So it’s surprising that recent SRA data shows a significant net increase in UK law firms year on year. What, you may ask, is driving such risky behaviour and what are the hallmarks of a successful start-up?

Know your client checks – A lesson from BHS
As you will be aware, it is a legal requirement for advisory firms to carry out ‘know your client’ checks. The purpose of doing so is to confirm your client’s identity and to seek to provide protection in respect of anti-money laundering (AML) and terrorist financing laws. The BHS experience before the House of Commons’ work and pensions committee and business, innovation and skills committee shows that firms need to think beyond AML obligations.

Lawyers must now draw on the data and drive change
The results from this year’s legal services consumer tracker survey make for interesting reading. In its sixth year, the research finds that a firm’s reputation continues to grow in importance, holding its top slot as the number one factor influencing choice of lawyer, with price remaining a strong second, reflected in a shift towards higher numbers of fixed-fee transactions. Alongside, it reports that trust in lawyers has declined to 42%, from 47% in 2012. It’s useful information as far as it goes, but what is the sector going to do with it?

Do not fear robot lawyers – fear robot clients
Tech is famous for its shorter and shorter hype cycles. Robot lawyers were all over the twitters only a few months ago and now people actually yell at you for even mentioning the thing. Of course, robot lawyers should not even have surfaced in the first place because no one is remotely close to building them. Lawyers should not fear for their livelihoods. But there is something that is much more important than robot lawyers. It’s robot clients. Or at least the proliferation of machines, automated transactions, and standardized processes where lawyers once controlled the terrain.







