October 15, 2020
Follow the Dollar: Tech’s Impact on Legal Service Delivery
$1T is spent on legal services annually. What is the role of technology in that process? During this program, Zach Posner from the Legal Tech Fund provides a quick overview of the current legal technology landscape and a focus on how technology is impacting all of the steps involved in legal service delivery – from selection of outside counsel through payment for services rendered and after-action review. Zach is joined by Wendy Butler Curtis, Esq. and they take a deeper dive into a few areas of technology and showcase examples of how corporate legal departments and firms are using technology to drive value for their organizations and clients.
September 16, 2020
Modeling Litigation Funding Agreements - Negotiating Fair Outcomes for Clients and the Firm
In-house counsel interest in litigation finance has dramatically increased since the onset of the pandemic as businesses explore important ways to protect their balance sheets. Demand for funding among leading law firms has also increased as firms look to sustain legal actions in progress and provide attractive client discounts to retain the work. Our speakers will pull back the curtain on how litigation funders model single cases and multi-case portfolio investments to demonstrate how they evaluate cases for risk, duration, and internal rate of return and how you can benefit from these insights to better evaluate when (and if) it makes sense to engage a funder.
September 2, 2020
Going Deep on Law Firm Profitability
This program will go well beyond a “shallow” look into the forces driving law firm margins and exploring how and where firms can have the greatest impact on the bottom-line. This event takes a unique approach, bringing together two experts - Jill Nelson with Intapp and Tom Jones with Iridium Technology - with deep knowledge on profitability from competing legal technology companies.
August 27, 2020
Law Firm Economics 101: A Client-Focused Primer on the Primary Levers of Law Firm Performance
The terms negotiated between law firms and client legal departments have long been plagued by information asymmetry at best, and plain misunderstanding at worst. Anyone who has ever asked any of these questions related to law firm and client relationships should listen to this event. What investments and expenses must firms make to deliver the caliber of services clients demand? How does the revenue model seek to cover these costs and generate surplus funds to reward good performance? How are these economics applied at the firm, practice group and matter-level?
August 7, 2020
Unless You Keep Asking with D. Casey Flaherty
The terms negotiated between law firms and client legal departments have long been plagued by information asymmetry at best, and plain misunderstanding at worst. Whether hourly billing or one of the varieties of alternative fee arrangements, there are common, economic principles underlying the proposals firms make, and the parameters within which they must operate to run a sustainable business. This session reveals foundational drivers underlying law firm performance and economic levers that govern the professional services business model. Join Casey Flaherty as he illustrates how every relationship will benefit from establishing a common understanding of the incentives that motivate behaviors in these delicate service provider relationships.
July 22, 2020
A Look at Client-Side AI-Powered Legal Spend Analytics Tools
More and more clients are now relying on very sophisticated, often AI-powered analytics tools—from both startups and legacy providers—to better understand and benchmark their legal spend. Most of these tools provide real-time monitoring and better information for setting budgets, alternative fees and negotiating with outside counsel. Clients who use these tools are often ahead of their firms in understanding what legal work can—and should—cost.
July 16, 2020
Leveraging Business-Value Forecasting to Unlock Insights and Manage Business Outcomes
Many law firms have ignored the act of forecasting, a best-practices mainstay in other industries. By doing so, these firms are hampering their opportunities for success. Business leaders in other fields know that forecasting can add a level of predictability — a backdrop against which your firm can build strategies, resource projects, and measure success. So why isn’t the practice of forecasting more widespread — and what can be done to change this reality? Join Thad Jampol, Toby Brown and Pam Smith as they share theirs insights on this topic.
June 23, 2020
Post Pandemic Impacts on Pricing, LPM and Profitability
Economic shocks have been accelerants for legal industry change over the past decades. This cycle will render similar shifts. Susan Raridon Lambreth and Mark Medice will take our audience through LawVision’s legal industry playbook for industry recovery, reviewing macro and micro trends driving global economic changes and, by extension, the legal profession. This program will focus on those aspects of the playbook that address client value and the evolving client/firm relationships when it comes to service delivery, pricing, LPM and the like.
In this webinar, Susan and Mark will address the strategies legal organizations may pursue in terms of clients, organizational structure, economics, data/technology, talent, culture, and overall approach to be well-positioned for growth in the emerging new “normal,” as well as to prepare for the next crisis.
June 4, 2020
The State of Play of Legal Innovation and Client Value
What is the state of legal innovation today in the market for corporate legal services? A panel of experienced legal innovation professionals - two from law firms and one in-house - will discuss, among other topics, what is innovation, how to resource it, how it creates client value, and examples of successful initiatives. Panelists will also touch on the impact of the COVID crisis on innovation.
May 25, 2020
Building Long Term Sustainability into Short Term Decision-making
In the flurry of fast-paced critical decisions leaders are making today is a looming threat: the long-term impact of each of these decisions, in isolation and in combination. How can law firms ensure their day-to-day responses to a major global, yet temporary, crisis will not have a negative, permanent impact on their long-term viability? Just as many law firms faced consequences of rate discounts, staff layoffs and curtailed investments in the wake of the 2008/9 financial crisis, so too will law firms today grapple with the ramifications of the choices they’re making right now. Fortunately, the industry can learn from past mistakes. Law firms, with the right tools in place, can mitigate long-term damage. The key is in knowing what to look for now and how to factor ever-changing variables into the equation. Join us as we provide a framework for building long-term sustainability into short-term decision-making.
May 5, 2020
The Challenges and Opportunities of One-to-Many Legal Solutions by Professor William "Bill" Henderson
One-to-many legal solutions make it possible for lawyers and law firms to increase revenue and profit without selling additional units of time—in the words of legal futurist Richard Susskind, to “make money while you sleep.” On the one hand, the productization of legal expertise can be a highly effective way to increase marketshare and generate profit for operational and commoditized legal work that is otherwise subject to enormous rate pressure. Moreover, better to create these offerings ahead of one's competitors, as products are likely a gateway to additional services. On the other hand, one-to-many legal solutions require careful strategic planning combined with multidisciplinary teams who have the skills and resources to execute. Is your organization up for this challenge? In this talk, Professor Henderson delves into process of experimentation that is now taking hold among innovator and early adopter law firms and clients. In turn, he provides a candid review of the challenges and opportunities that lie ahead.
April 14, 2020
Legal Value Network’s Mission and Vision: Straight from the Founders’ Mouths
Conceived on the foundation of inclusiveness of all stakeholder groups having a voice at the table, Legal Value Network (LVN) seeks to offer a platform where members of the community can learn, collaborate and address the dynamic changes and trends in the business of law industry. This session, with panelists Toby Brown, Justin Ergler and Keith Maziarek, will provide an overview of the mission and vision for LVN moving forward in the words of a subset of the founders of the organization. Expect to gain a greater understanding of: 1) why LVN was formed; 2) the goals behind the offerings and involvement opportunities in the 6 Pillars of LVN; and 3) the path forward between now, P3 2020 and beyond.
March 31, 2020
Thriving Under Pressure: Crafting Win-Win Solutions In Time of Crisis
As the coronavirus evolved from a regional crisis to a global pandemic, companies across the world economy are facing a variety of financial, economic and legal challenges that impact their suppliers and service providers. This kind of uncertainty gives rise to a variety of important questions.