The rise of new law: The idea that everything must be done within the firm, whether it relates to the actual practice of law or not, is now irrelevant. A law firm’s core business is to provide legal services, and any other function outside of that should be examined to determine if it’s in the firm’s best interest to do it in-house. Law firms are not experts at everything, and many aspects of running a business can and should be left to outside experts. In the “new law” era, firms will have to make decisions about what they want to do in-house and what to outsource.
Scott Brennan, Chief Executive Officer, Lexicon