Attorney, legal sector analyst and author of the book Law Is A Buyer’s Market: Building a Client-First Law Firm, Jason Furlong’s long read offers insights on this unique time as North Americans venture briefly out of lockdown. Furlong states it seems like the right time to step back and consider the extraordinary shock-waved landscape of legal regulation change, and what it means for everyone. Furlong looks at four different dimensions in which law firm ethics models, legal services regulation, and lawyer licensing and competence standards are all beginning a process of transformation.
Jordan Furlong is a leading analyst of the global legal market and forecaster of its future development. In this article he discusses the changing landscape of the legal market, focusing on why and how the disruptive impact of advanced technology in the law will be to reduce the incidence and volume of traditional legal work given by clients to lawyers. Furlong states that this is not just a market change; this is the emergence of a new legal economy. That’s a term we need to start thinking about, developing more fully, and changing our strategies to reflect.