Law new refers to the transformation of legal services through a paradigm shift from provider to customer. When this occurs, the industry’s purpose will revert to better serving its legal consumers and society at large. It will move away from legacy delivery models, outdated legal education and self-regulation that focus on profit preservation, awards and peer-congratulation. Instead, the legal industry will focus on delivering impact that produces high net promoter scores. This will require a significant culture change and human adaptation.
In the past, innovation in the legal industry meant cost reductions through process improvements or finding a cheaper operating location. Now, it involves delivering impact and achieving client satisfaction. To do so, firms must embrace technology and think differently about the value they offer their clients. Changing the way they deliver legal services will transform their business and create value.
A number of startups, independent attorneys and law firm subsidiaries are augmenting traditional legal services. These companies are called alternative legal service providers or ALSPs. They are also referred to as “New Law.” In order to be considered New Law, a company must demonstrate innovative practices in at least one of the following areas:
The New Law concept has become increasingly popular among some law firms. It allows a law firm to offer specialized services to its clients without compromising its traditional core competencies. It also can help a law firm meet the growing demand for lower-cost, high-value legal work.
As a result, many law firms are exploring different ways of embracing the New Law concept and implementing it into their businesses. This includes collaborating with other entities to serve their clients, offering fixed-fee services and using technology to streamline processes.
While collaboration is not a new concept, it is becoming more commonplace in the business world as the pace of change increases and significant global challenges cannot be mastered by one function, enterprise or stakeholder group. The pharmaceutical industry’s collaboration in developing the Covid-19 vaccine is a prime example.
The latest addition to the New Law list is a bill that would allow local government officials to impose curfews during emergencies. The bill would allow for this to occur if the local chief of police determines that there is an “imminent threat of civil commotion or disturbance in the nature of a riot which constitutes a clear and present danger.”
The new law also includes a provision that requires City agencies to provide notice to employees and job applicants about student loan forgiveness programs. The legislation will also align the City’s data breach notification laws with the State’s SHIELD Act and expand the requirement for agencies to disclose breaches involving private information. The City must notify affected persons whose private identifying information was exposed and the City’s chief privacy officer. This would also include third parties whose records were accessed or disclosed as a result of the breach. The City must also notify the Office of Cyber Command and the Department of Information Technology and Telecommunications about such breaches.