the future is what happens

CPRJanuary 15, 2010

The Future is What Happens

While You’re Making Other Plans

Legal OnRampLegal OnRamp

2Legal OnRamp Confidential 0709

04/19/23 2

Pop Quiz

Question:

Name a comprehensive information resource, written by random people and commentators all over the country (the #1 contributor was condemned as insane), that is only distributed online?



04/19/23 3

Pop Quiz

Question:

What is the most important technology in the history of law firms?



Half Empty or Half Full?



In All Fields, Change Follows a Diffusion Curve

• innovators - •early adopters •early majority - •late majority - •laggards -

Where Are We?

Not especially useful to say:“change isn’t complete, therefore there will be no change.”



Law Change Curve More Compressed

Laggards Are Not Predictive



04/19/23 8

Two Views of the Next 5 years

Demand

Pricing

Model

Competition

Clients

Delivery

Continuity

6% growth

3-5% annual increase

Leverage-driven

Traditional leaders

“Buy Tiffany’s”

Associates

Change

3% growth

Flat to slightly down

Rapid de-leverage

3% shift “down-market

Assert buying power

3% annual substitute technology, unbundling

Inevitable That Majority of Partners Will Believe in Continuity



04/19/23 9

3% Solution … Move 3% of Revs to Change

Demand

Pricing

Model

Competition

Clients

Delivery

Continuity

6% growth

3-5% annual increase

Leverage-driven

Traditional leaders

“Buy Tiffany’s”

Associates

Change

Take market share

3x Value Pricing

Focus on outcomes

Address Cost Issues

Improve Client Intimacy

Substitute Technology For Info Processes

If you bet on Change and Continuity Happens, You Will Do Fine

If you bet on Continuity and Changes Happens, You Will Heller-ize

Which Approach is Prudent???



My Profile as Platform For Navigation (will replace inbox)



Share Best Practices



Context- Cisco Collaboration

Law Firm Management Forum 12



Resource Centers



Use wiki to develop common vocabulary



Alternate Fees Wizard

Client Side Scope of Matter

Single or multiple What drives scope within our control What drives scope outside our control

Define objective, Quality Stakeholders Best case Worst base Most likely

Competitive Sourcing? LPO Marketplace

Payment Model Hours – holdback + bonus Payment tied to outcome

Firm Side• Related Matter Database

– Matter Definition– Estimated Scope– Comparable Cost Information

• Staffing Plan– Partners– Associates– Paralegal– Outsource

• Firm Side tools– Project Plan– Areas to Re-engineer

• Comp System Metrics

Joint Project Agreement.• Definition of Desired Outcome. Complete the Fusion Deal by 2/4/10 with the following 4 key

criteria

• Payment timing. 20% Retainer. 40% of billable time as accrued. Completion bonus on deal closing calculated on basis of….

• Client side commitment. Sarah Smith to spend 5-10 hours/week as project lead. Expected turnaround on day-day questions. Draft the indemnity and non-disclosure agreements

• Law firm Side Commitments. Identify four highest priority issues by 11/4/09…

Joint Project Agreement.• Definition of Desired Outcome. Complete the Fusion Deal by 2/4/10 with the following 4 key

criteria

• Payment timing. 20% Retainer. 40% of billable time as accrued. Completion bonus on deal closing calculated on basis of….

• Client side commitment. Sarah Smith to spend 5-10 hours/week as project lead. Expected turnaround on day-day questions. Draft the indemnity and non-disclosure agreements

• Law firm Side Commitments. Identify four highest priority issues by 11/4/09…



16

Twitter-Like Synthesis of Information From Trusted Sources



Individual Firm Lawyer Shares Expertise, Acts as Guide



Game-Changing Innovations

18

To innovate requires (a) deeper understanding of how status quo came to be and (b) willingness to ask “what if” questions instead of “I can think of a reason this might not work.”



Stakeholders for Change

True Client Engagement

Partner Appetite for Change, Investment

Professional LiabilityManaging Partner Peers?

Compensation Systems

Law Schools

????

Associate “Contract”

Leaders Explore & Align Stakeholder Interests With Long-Term Interests of Institution

the future is what happens

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