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Preparing for the storm
Legal innovation in Nova Scotia
A
storm is brewing in the legal profession and it is hitting the
shores of Nova Scotia. The legal landscape is increasingly
becoming more difficult terrain, with new competitors and a
tighter market. The inevitable result will be a major transformation
to the overall practice of law. Jordan Furlong’s presentation at the
2014 NSBS Annual Meeting sent out a warning call to Nova Scotian
lawyers – be prepared.
“The storm has been brewing for a few years with the economic
downturn, declining revenue, tougher clients and sharper
competition,” says Mr. Furlong of Law21.ca, a leading industry
analyst who forecasts the impact of the changing legal market on
lawyers, law firms and legal organizations. “The changes that are
coming will come fast.”
Legal innovation is no longer an idea for the future. Times are quickly
changing with entrepreneurial lawyers in Nova Scotia moving away
from traditional practice and trying out new ideas.
In his keynote address, titled “Weathering the Storm: Navigating
to Safe Harbours in the 21st Century Legal Market,” Furlong
summarized the major trends that are altering the legal profession.
The rise of technology in legal practice, the growing pressures from
clients to reduce legal fees and the rise of alternative business structures
(ABS) in the U.K. and Australia, have created new opportunities and
challenges in the market.
“As lawyers, we think of the
market as clients that approach
us,” says Furlong. “That market
is only the tip of the iceberg.
Julie Sobowale
Freelancer
When Canadians face justiciable problems, 88 per cent do not obtain
legal help.”
One of the major issues he discussed was pricing for legal services and
looking beyond the billable hour. Some Nova Scotia firms are already
experimenting with different pricing models. McInnes Cooper has
entrepreneurial services geared towards startups that include special
fee arrangements and fixed pricing. CS Legal is one of a growing
number of virtual law firms in Nova Scotia and uses flexible fee
arrangements for clients.
“We’ve tried to build our practice from a fresh perspective, not letting
ourselves get caught up in ‘how it should be’ or ‘always has been’
done – all the while counting on some of the solid practices we’ve
learned from seasoned lawyers we’ve been privileged to work with in
the past,” says Natalie Clifford, a partner at CS Legal.
Some firms have stepped completely into new territory as
entrepreneurial law firms. When Corinne Boudreau started Two
Certainties Law in 2012, she designed it based on her client’s needs.
Instead of in a traditional stand-alone law office, the law firm is based
out of Platform Space, a co-working space in Bedford.
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