The future of the legal practice
I mentioned on my first post that in my opinion the practice of the law these days does not resemble at all how attorneys practiced law 20 or 30 years ago, and that evolution has been mainly caused by technology.
New developments in what is called as TechLaw are disrupting the market. Let's take RocketLawyer for example, a start-up from California that provides online legal services. It has a special focus in providing legal assistance to individuals and small and medium companies, which is t he market that big-law tend to ignore and RocketLawyer is filling that gap.
By providing contract templates with easy-to-fill gaps, SMEs can get cheap legal documentation that can fill their needs and avoid the higher legal costs that big-law (and law-firms in general) offer. In addition, SME's can contact a specialized lawyer for further information and advice.
I am sure that a lot of attorneys will agree with me in that good legal advice has to be taylor-made. There are no legal issues that are exactly the same and you need a specialized attorney to look into the particulars of every case to propose the correct solution.
However, it is undeniable that there are certain situations that can be (and that are being) standardized. Firms have templates of dozens of contracts that are then adjusted to the specific needs of certain clients, so why not taking standardization of the extreme and make simple contracts that can be used in simple situations? This is the goal of RocketLawyer and many other companies that have seen in standardization a gap in the legal market and they are taking their shots at it.
The question here is what (if any) can law firms do to fill this gap (if they are interested in filling it). But that is a matter of another post.
I hope you have enjoyed. Let me know your thoughts.