The legal industry continues its ongoing development thanks to emerging technologies, globalization, and evolving economy. In our digitized and constantly growing world, changes drive innovation by triggering the legal industry to experience significant progress. Since technologies have become an integrated part of law practice, these changes remain relevant and continue to advance. Therefore, law firms and solo attorneys are encouraged to follow these trends that will reshape the legal profession at an accelerated pace.
Legal Process Outsourcing
Legal process outsourcing, also known as LPO, applies to the practice that allows a law firm to receive legal support services from an outside law firm or legal support provider situated in overseas or domestic locations. While globalization has fueled the legal process outsourcing factors, a growing number of law firms are outsourcing legal work in order to reduce costs and remain competitive.
Constantly developing digital landscape and amendments to the Federal Rules of Civil Procedure have made all forms of electronically stored information (ESI) “discoverable.” It refers to the practice of identifying, collecting, and producing electronically stored information. These processes and technologies around e-discovery are complex because of the unprecedented volume of electronic data. According to experts, e-discovery will lead to the creation of more innovative roles that will reshape the legal sector in the upcoming years.
Networking and especially social networking remains one of the essential skills for legal professionals. Social networking tools such as Facebook, LinkedIn, and Twitter have been reshaping the legal sector in the last decade and will continue to reshape it in 2020 by changing the way attorneys find jobs, manage their legal practice, interact with clients, etc.
Virtual Law Firm
A virtual law firm is a rising trend across the workplaces globally. It is a legal practice that permits law firms to work remotely without requiring to be in an office. The law firms that operate virtually use emerging trends and technology to serve their clients rather than have a brick-and-mortar office. This type of legal practice allows flexible work hours and promotes a better work & life balance for legal professionals.
Emerging technologies and the ever-changing legal landscape requires lawyers to be tech-savvy more than ever before. Legaltech trends and startups have created a more sophisticated and efficient way of practicing law. Legal professionals who want to be successful and keep pace with the times must polish their tech skills and learn to run their law firm using new tools and technologies that save time, increase efficiency.