I don’t pretend to be any type of analyst on the legal industry, but I do recognize an important article when I see one. Anyone working in legal services should find reading Who’s eating law firms’ lunch? by Rachel Zahorsky and William D. Henderson for the ABA Journal of great interest. It’s the bits-to-bytes paradigm shifting story of how technology is reshaping complex litigation and transaction practices.
In the article Kevin Colangelo, a former NYC attorney now with a legal process outsourcer called Pengea3, offers a quote that sums up what’s up…
“All of the lawyers in my area of practice [outsourcing and technology transactions] observed the same relentless pattern of businesses gaining enormous efficiencies through technology and globalization; albeit the collateral effects were often massive employment dislocation. Once you thought about it, there was no principled reason why this pattern was going to exempt BigLaw.”
Go read it here: Lunch