Big Law is not dead. Nor will it die. The visions laid out by noted experts in Tomorrowland and End of Lawyers? shine a light on the types of things a futurist might predict: (cue radio voice) “In a world run by robots and with universal income ….” The threats are real. Yet as Gina Passarella points out in her article, “The Dance Around Change,” tangible shifts in the business model of law are slow to come. Resistance is high, as is “dabbling”—a non-committal attempt to test the waters with little to no real risk (or reward). What can the law firm executives of today do to make the incremental, fundamental changes to prepare their firms for what’s to come? And perhaps equally importantly, do they want to?
As with any other attempt to prognosticate, the very premise of “future-proofing” a law firm is wrought with caveats and “what-if” scenarios. There is no magic bullet, no one-size-fits-all solution. There are, however, a set of fundamental, intertwined elements that together will combine to determine the market position, financial health and, ultimately, sustainability of a law firm.
