July 9, 2020
Legal practitioners will have to start looking into creative solutions for the current problems their clients are facing. It is undeniable that every business sector has in some way been adversely affected by this unprecedented pandemic. Many law firms will have to expand their areas of practice to accommodate a host of new legal issues that will arise as a result of Covid-19. Now, more than ever, clients will be demanding a higher value for their hard-earned money and law firms will need to evolve in order to meet these expectations.
The legal profession as a whole will need to take a more modern approach to find more efficient and effective ways to provide value to their clients. The labour-intensive repetitive tasks which associates and support staff are traditionally asked to complete at high hourly rates will need to be minimized, and the focus will need to shift towards innovative problem-solving. With advancements being made to technology and the efficiency of new legal software, and the current demand for a modern approach to legal service, law firms will need to quickly find ways to adapt.
Creative and adaptive problem-solving is what will be required for law firms and individual lawyers to stay in business and adapt to providing clients with better value. This will require a different type of lawyer. This will require a lawyer who is not only book smart, but also business-savvy, creative, result-oriented and most importantly, one that understands and is able to adapt to their client’s needs. Every lawyer can send off emails while sitting behind a computer screen. Not every lawyer has the people skills that can be applied and leveraged when necessary.
Long after the Covid-19 crisis is over, and it will be over soon, courts will be dealing with a multitude of litigation disputes concerning whether parties are excused from performance of their contractual obligations during this period. The litigation finance industry will inevitably have a steady stream of post Covid-19 activity and, for the traditional lawyer, everything will soon go back to normal. However, if the traditional lawyer is unable to adapt and change now, future client demands will have a much longer-lasting impact on their business than Covid-19 ever could. Adaptive and situational problem-solving will be an invaluable asset for lawyers to meet current demands and sustain a prolonged, successful career in the legal profession.