What is NewLaw?

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In an age of disruption, traditional large law firms face increasing pressure from evolving NewLaw providers. But what does NewLaw actually mean, and how do these firms differ from traditional competitors?

The term NewLaw describes a growing category of alternative legal service providers that sets itself apart from BigLaw or TradLaw providers in the following key ways.

 

Traditional BigLaw Firm NewLaw Firm
Personal brands Corporate brands
Lawyers sell and produce Separate sales and production
Hourly rates Value pricing
Legal excellence Commercial relevance
Top legal talent Business savvy talent
Full-time lawyers Flexible lawyers
Sustaining technology Disruptive technology
Sustaining processes Highly engineered workflow

Source: Beaton Capital.

 

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