When COVID-19 restrictions spread across the globe, many firms turned to government assistance, austerity cuts and job reconfigurations in response. While Reed Smith did make some budget cuts, it also took a slightly different tech-based approach by creating work opportunities for its staff during a recession. In April 2020, the firm quietly launched an internal initiative to proactively address clients’ legal needs by building tech-based solutions, with an aim to divert “spare lawyer capacity” to those projects during a pandemic.
The initiative, dubbed Now and Next, saw Reed Smith partners, associates and knowledge management teams from various practice groups and offices collaborate to create tech-based tools and resources. In a press release, Reed Smith highlighted various tools its Now and Next teams created, including investigations and remote proceedings best practice resources, a fintech legislation tracker and an insurance clause analysis tool.
