This is a clip of Mark Harris, co-founder & CEO of Axiom Law, responding to the following question: What do you see in the future for legal practice (1) increasing un-bundling and specialization, (2) consolidation of services and vendors into one stop shops or (3) re-consolidation into firms more resembling the law firms of the 20th Century?
1. Increased un-bundling and specialization is the most likely outcome going forward. A common misconception amongst lawyers is that the demand for legal services is a monolith.
2. We still don’t know what the “winning model” is. But the key to creating the winning model in any given segment of the market is eliminating the trade-off between cost and quality with innovation.
Legal Rebels wrote a profile on Mr. Harris and Axiom Law that accompanies this video. It can be found here. Another recent article discussing Mr. Harris’s views on the future of the legal services industry can be found here.
I love that it is becoming easier and easier to learn from thought leaders in the legal services industry. I hope Mr. Harris and other innovators in the legal services industry will continue to be generous with their insights and share them with those of us who are willing to listen.