Business of Law
With radical changes, law firms can beat recession, says Susskind (video)
Posted May 2, 2013 9:20 AM CST
By Lee Pacchia
Just as legal process outsourcers are stealing business from law firms today by doing it cheaper, they too will face pressure in the coming years from technologies that can do the the job even cheaper than they, law firm consultant Richard Susskind tells Bloomberg Law's Lee Pacchia. And law firms may ultimately come out on top, he says.
But lawyers need to be trained to build those technologies and processes, not just to counsel clients one-on-one, he says. Attorneys need to become legal knowledge engineers, risk managers, project managers and process analysts–jobs which are "wildly different from what people expect when they go to law school," he says.