Legal Trends - Jeff Modisett - Darwin 016 - a podcast by Hosted by Ian Connett and the Evolve the Law Team

from 2017-05-26T18:02:38

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Summary:

In this Darwin episode of the Evolve Law podcast, Jeff Modisett, CEO of Nextlaw Global Referral Network analyzes trends in the legal industry. Predictions were made that large firms would take over, but technology has actually caused the opposite to occur. We explain what exactly is happening, and how firms can adapt and thrive to the changing industry.

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Show Notes:

00:00 Intro

00:28 Barbell effect debunked

00:36 Legal industry consolidated at top, fragmented at bottom

01:42 How do we know we are getting our money’s worth?

02:23 Outsourcing expected to grow

03:24 Firms measure cost not quality

03:44 Amazon prioritizes firms that are innovative

04:14 Law is targeted by disruptive technologies

04:30 Three major trends

05:24 Budget for technology is important

05:52 Ways for small firms to thrive in this technological environment