Law Firm Innovation
Insights and Practice
Mark Gould, Arne Gärtner, Richard Hinwood, John Knox, Michael Bradley, Adam Billing, Abigail Hunt, Markus Hartung, Darryl Cooke, Karl Chapman
Published: 2015
Pages: 80
eBook: 9781787427761
What does innovation look like for a traditional industry such as law? How will innovation create margins that law firms can capitalise on? Law Firm Innovation: Insights and Practice by multiple expert contributors answers these questions and provides an overview of innovation options and practices in a changing legal marketplace.
This has implications for the way law firms view and use their resources, expertise and human capital. A commitment to innovation opens doors for law firms to better align themselves with client needs and encourages the development of new tools and service offerings to assist with on-going business needs. But what does innovation really mean in a law firm context? In what ways can an undeniably traditional industry demonstrate innovation? How do individual law firms show what innovation means to them?
Law Firm Innovation: Insights and Practice not only answers these questions, but provides an overview of innovation options and practices in a changing legal marketplace. This guide offers practical advice for firms that are looking to become more innovative in the way they work, and it provides first-hand examples of innovation in practice within the legal industry. This guide will enable you to:
Gain insight into innovation in the legal market from experts and practitioners from around the world.
Review several practical frameworks, designed to help law firms introduce innovation as a core business activity.
Learn from case studies on some of the most innovative legal service providers and the ground-breaking approaches already being taken.
You can use these to benchmark your innovative approaches.
Hear from these authors: Richard Hinwood, Strategy and Governance Director Executive (Withers LLP) John Knox, Managing Director, Asia (AdventBalance) Mark Gould, Founder (Mark Gould Consulting) Adam Billing, Partner (Moller PSF Group Cambridge), Founder (Treehouse) Abigail Hunt, Associate (Moller PSF Group Cambridge), Senior Associate (Treehouse) Markus Hartung, Director (Bucerius Center on the Legal Profession, Hamburg) Arne Gartner, Research Assistant (Bucerius Center on the Legal Profession, Hamburg) Michael Bradley, Managing Partner (Marque Lawyers) Darryl Cooke, Founder (gunnercooke) Karl Chapman, Chief Executive (Riverview Law)
Table of Contents
| Cover | Cover | |
|---|---|---|
| Halftitle page | i | |
| Contents | iii | |
| Executive summary | vii | |
| PART ONE Strategies and tactics for innovation | xi | |
| Chapter 1: Disruptive innovation | 1 | |
| Innovation in the legal market | 1 | |
| Where does disruption come from? | 2 | |
| Alternative providers: A broad range of different firms | 2 | |
| Classification of alternative providers | 3 | |
| Point of attack: The value chain of law firms | 4 | |
| Who drives innovation and change | 4 | |
| Core hypotheses derived from the study | 5 | |
| Chapter 2: Building a culture of innovation in legal services | 7 | |
| The innovation imperative | 7 | |
| A culture of innovation | 7 | |
| Create the foundation – Building skills and awareness | 9 | |
| Provide the right time, space, and funding | 11 | |
| Recognise common barriers to innovation | 13 | |
| Lead by example and others will follow | 14 | |
| Conclusion: Building a culture of innovation | 15 | |
| Chapter 3: Developing knowledge capability to support innovation | 17 | |
| Innovation basics | 17 | |
| Knowledge management and innovation | 18 | |
| A different approach: Improving knowledge capability | 20 | |
| The prospect for knowledge capability and innovation in law firms | 22 | |
| Chapter 4: The frameworks of strategic innovation | 25 | |
| Eureka! | 25 | |
| Strategic innovation | 25 | |
| The Pentathlon Framework – It’s not just about the ideas… | 26 | |
| The Innovation Audit | 28 | |
| Service Blueprinting | 28 | |
| The Morphological Box | 29 | |
| The Four Actions Framework | 29 | |
| Tipping Point Leadership | 30 | |
| Conclusion | 32 | |
| Chapter 5: Rethinking pricing – Why fixed fees and value pricing are not pricing innovations | 33 | |
| What is innovation? | 33 | |
| Pricing innovation myths | 34 | |
| Real pricing innovation | 35 | |
| Different perspectives | 37 | |
| Chapter 6: Innovations in legal technology | 39 | |
| Untapped data | 39 | |
| Moving beyond spreadsheets | 40 | |
| Tackling transparency | 41 | |
| The next step | 41 | |
| Innovation with impact? | 42 | |
| PART TWO Case studies | 45 | |
| Case study 1: Baker & McKenzie –Innovation in HR | 47 | |
| Baker & McKenzie’s people agenda | 47 | |
| Learning and development initiatives | 48 | |
| Senior associate development centre | 48 | |
| Partners’ business development academy | 48 | |
| Coaching | 49 | |
| Agile working | 49 | |
| Diversity and inclusion | 49 | |
| Appointing a diversity and inclusion partner | 50 | |
| Diversity focus groups | 50 | |
| Global LGBT policy | 51 | |
| Social mobility and diversity | 51 | |
| Health and wellbeing | 51 | |
| Conclusion | 52 | |
| Case study 2: Marque Lawyers – The development of law firm innovation | 53 | |
| Marque, seven years on | 53 | |
| The pressure of competition (or not) | 53 | |
| External forces impacting the legal market | 54 | |
| Innovation in the law, or what passes for it | 55 | |
| Meanwhile, as Rome burns | 56 | |
| Case study 3: Advent Balance –Innovation and value at the heart of everything we do | 57 | |
| Case study 4: gunnercooke – Innovation in a very different law firm | 61 | |
| The gunnercooke model | 61 | |
| Expansion and growth | 62 | |
| Culture | 63 | |
| Case study 5: Riverview Law –The coming storm | 65 | |
| Real and imaginary barriers | 65 | |
| From Law 1.0 to Law 3.0 | 65 | |
| 1989 | 66 | |
| The rise of the knowledge worker | 66 | |
| The big disconnect | 67 | |
| The new legal giants | 68 |
Chapter 1: Disruptive innovation
Markus Hartung, director, and Arne Gärtner, research assistant, at the Bucerius Center on the Legal Profession (CLP) at Bucerius Law School, Hamburg
Chapter 2: Building a culture of innovation in legal services
Adam Billing, partner, and Abigail Hunt, associate, at Møller PSF Group
Chapter 3: Developing knowledge capability to support innovation
Mark Gould, founder of Mark Gould Consulting
Chapter 4: The frameworks of strategic innovation
Richard Hinwood, strategy and governance executive at Withers LLP
Chapter 5: Rethinking pricing – Why fixed fees and value pricing are not pricing innovations
Chris Howe, director of Raedbora Consulting
Chapter 6: Innovations in legal technology
Toby Brown, chief practice officer at Akin Gump
Case study 1: Baker & McKenzie – Innovation in HR
Case study 2: Marque Lawyers – The development of law firm innovation
Michael Bradley, managing partner at Marque Lawyers
Case study 3: AdventBalance – Innovation and value at the heart of everything we do
John Knox, managing director, Asia at AdventBalance
Case study 4: gunnercooke – Innovation in a very different law firm
Darryl Cooke, founder of gunnercooke
Case study 5: Riverview Law – The coming storm
Karl Chapman, chief executive, Riverview Law