BIG NEWS: An Alternative Legal Service Provider filed for an IPO

BIG NEWS: An Alternative Legal Service Provider filed for an IPO

Last month, Axiom, an alternative legal service provider, filed a draft registration statement with the SEC to hold an initial public offering of shares of stock. This is a big deal in the legal industry. Law firms are not able to be publicly traded in the U.S. as ethical rules prohibit ownership of a law firm by non-lawyers. This limits the ability of law firms to raise capital. The ability of an alternative legal service provider to raise capital by selling its shares of stock on stock exchange is a real competitive advantage.

5 Forms of Legal Innovation

5 Forms of Legal Innovation

Innovation in the legal industry isn’t limited to just technology. It takes many forms. A recent post by Roy Strom in the American Lawyer titled “Are Lawyers Ready to be Managed by Metrics?” and our April 3rd Nimble Legal Innovation Forum in Cleveland got me thinking about all the different ways innovation is taking hold in the legal industry. There will always be detractors because as Roy Strom wrote the “Legal Industry is painfully slow to adopt major changes, and lawyers often say work can’t be easily categorized or simplified.” The reality is major change is happening right in front of us and if you’re not paying attention you’ll get passed by. Here are 5 forms of Legal Innovation:

5 Ways Law Firms Can Improve Their Hiring and Retention Efforts

5 Ways Law Firms Can Improve Their Hiring and Retention Efforts

A recent Insight post by Rachel Gezerseh entitled “INSIGHT: Big Law Needs to Better Connect With Associate Talent - Cocktail Hours Aren’t Enough” got us thinking about some ways that law firms can improve both their hiring and retention efforts. We recently were interviewed by Columbus Business First regarding what law firms are doing to attract and retain millennials in the article , “Law Firms Focus on Flexibility, Happiness in the Race for Talent”. The author of the article, Laura Newpoff, interviewed us after viewing our 2018 Lawyer Happiness Survey Results, which among other things found that Generation X and Income Partners at law firms were the least content.

REPORT: Law Firms Are Increasingly Turning to Alternative Legal Service Providers

REPORT: Law Firms Are Increasingly Turning to Alternative Legal Service Providers

Law firms are increasingly turning to alternative legal service providers (or law companies) for strategic business reasons according to a new report by Thomson Reuters “Alternative Legal Service Providers 2019: Fast Growth, Expanding Use and Increasing Opportunity”.

What Legal Operations Does and How It Gets Results

What Legal Operations Does and How It Gets Results

We were honored to be one of the contributors to the “Legal Operations: Getting More from In-House Legal Departments and Their Outside Counsel” study by the Boston Consulting Group and Bucerius Law School. While Legal Operations is typically known for being a new function or role within a law department, law firms are now hiring legal operations professionals or contracting with law company’s like Nimble to have professionals internally to “talk the legal operations talk” with law departments.