While the legal industry has stabilized and recovered from the financial crisis of 2008, the new legal model is becoming leaner and more market-driven. Law firms are no longer able to rely upon traditional business models to continue growth. Leaner law firms must work better, faster, and be more innovative—connecting with the community of experts available outside of the law firm.
No law firm cost center is more aware of this than the firm’s library. Law firms, large and small, which previously could afford duplicative content and an all-you-can-eat buffet-style purchasing approach must now be strategically selective; and as technology has transformed the need for physical books and incumbent physical space, downsizing the real estate occupied by libraries has been an opportunity to shore in the costs of the library—including many notable firms: Kaye Scholer, Dentons, DLA Piper, McDermott Will & Emery, Best Best & Krieger, Latham & Watkins and Morrison & Foerster—to name just a few.
