September 2018 BriefingSMARTER LEGAL BUSINESS MANAGEMENT FLOATING IDEAS P WHIZZ TEST BEHAVIOUR Would an IPO spurt be good for the Briefing 5P people learned of navigating Vario at Pinsent Masons on picking law firm management market? the land of brand in and outside legal out the perfect contractors Let’s talk shop As the basket of potential law firm products piles up, should your business development function also be doing things differently? 3E guides your firm to a future without limitations. Gain the strategic visibility to embrace change fearlessly. Arrange a demo today at elite.com/3E © 2017 Thomson Reuters S048590/6-17 S048590_szB.indd 1 6/7/17 12:01 PM ISSN 2398-9769 Issue sponsor: Editor’s Who we are… letter t’s always a little strange putting finishing Richard Brent is the editor of touches to our September issue. It feels it Briefing. He likes to get out should be like starting the new school term. I and meet as many of you as I possible, so contact him at can just about remember those days. You’ve [email protected] learned so much the previous year – had some time to relax and reflect, grown a little as a person, Kayli Olson is 's Briefing assistant editor. She finds and got your tie all ready to go again – now you’re full of stories and data. Care to contribute? Contact: fresh energy to apply it. But have the legal business [email protected] challenges changed, or is it just more of the same? One thing we certainly didn’t have to put up with in Andrew Muir is Briefing’s editorial assistant – legal these hols is the news cycle’s summer silly season, sometimes Richard lets him write things. Contact: which seems to inflict itself on so much of society at [email protected] large. Indeed, it was tricky to get a solid week sizzling on the sun lounger without news pinging through of some Holly McDaid is Briefing’s client services manager, big appointment, regulatory update, or game-changing responsible for managing strategic shift. Never mind all those supplier insight. Contact: [email protected] One thing we certainly Brexit contingency papers to wade didn’t have to put up through. Another Aperol Spritz? Don’t Rupert Collins-White is mind if I do. Burlington Media’s creative with in legal these director. Contact him at: Of course, everyone got most excited [email protected] hols is the news cycle’s of all by EY’s acquistion of Riverview summer silly season, Law. Among all the noise – and rather Sarah Cox is Burlington which seems to inflict predictable accusations of hype – it’s Media’s client services hard not to be a little taken with the director. Contact her at: itself on so much of [email protected] society at large symbolism. For years now Briefing has been banging on about the different categories of competition circling for legal’s ever-leaner- looking luncheon. The Big Four had one set of qualities Talk to us significantly going for them. The likes of Riverview have that ‘something else’ to set them apart. Who was the Briefing on Twitter @Briefinglegal biggest threat? And boom – two become one. Perhaps it’s Email us your thoughts all that dodgy summer reading I’ve been doing, but I [email protected] deem that to have a touch of the poetry in motion about Find all our back issues online it. It’s a bit like two of the most independently terrifying www.briefing.co.uk tribes from The Walking Dead suddenly striking a Write us a letter (remember those?) staggering season-climax alliance. No? Briefing magazine Burlington Media Group Speaking of the arguably epic, you may well be reading 20 Mortlake High St my musings (late in the day) at this year’s Briefing London SW14 8JN DX 36356 East Sheen Transformation conference. Among much else, we’ll be asking what strategic changes firms could make to take on the changing faces of competition more effectively. Pencil cases and protractors at the ready I say ... RICHARD BRENT EDITOR 3 Tweet us @Briefinglegal Briefing SEPTEMBER 2018 Transformation - September Briefing advert FINAL.pdf 1 17/08/2018 12:38:49 TRANSFORMATION CONFERENCE C M Y TRANSFORM CM MY YOUR FIRM’S FUTURE CY CMY THURSDAY SEPTEMBER K ONE AMERICA SQUARE, LONDON EVENTSBRIEFING.CO.UK BOOK NOW BRIEFINGTRANSFORM WWW.BRIEFING.CO.UKTRANSFORMATION HELP YOUR LAW FIRM TAKE FLIGHT sponsored by: CONTENTS Inside this month September 2018 BriefingSMARTER LEGAL BUSINESS MANAGEMENT FLOATING IDEAS P WHIZZ TEST BEHAVIOUR Would an IPO spurt be good for the Briefing 5P on the land of brand in and Vario at Pinsent Masons on picking 20 law firm management market? outside legal out the perfect contractors Value people If you’re Let’s talk shop As the basket of potential law firm products piles up, does the business committed to development function also need to be doing things differently? asking your clients for feedback, be Briefing is the only legal business management title, prepared to and is focused exclusively on change improving the work and worlds of law firm management leaders. Every issue is packed with relevant insight and lessons from peers and pros. Alistair Wye from UPFRONT OPINION Event report 20 Highlights from 34 iManage RAVN Roundup From Big Clare Quinn- Briefing 5P 2018 and what on helping lawyers to get 06 Four to Belfast, all 10 Waters at we took away from the day rid of the grunt work the hottest legal business Proskauer Rose on what Rod Fripp at spots this summer alternative delivery might BRAIN TRAINING 36 Capsticks says Lex pop mean for your brand Hands on business intelligence from 07 Is more law firms Chengwei Liu at 24 Matthew Kay of Iridium Technology has going public good for legal 11 Warwick Business Vario at Pinsent Masons already paid its way business management? School on the battle bias on the test of a good hire Book review Patrick Hurley at REAR VIEW Sue Brooks of INDUSTRY VIEWS 08 12 Thomson Reuters David Brennan Trowers & Hamlins gives Elite has his giveaways of a The new and Jody Jansen her take on 50 Top Tools for firm needing a gear change 38 28 Wilson Legal and at Gowling WLG explain Employee Wellbeing Stanton Allen team why they introduced an What’s on your FEATURES discuss data in depth internal cryptocurrency 09 whiteboard? The big idea Can Dave Harris at Lauren Aste, executive vice 14 your brand keep up 32 OnePlace explains president and GC, in the changing world of why law firms struggle to Carlson Wagonlit Travel legal business models? sell themselves Save money by outsourcing your document production to us. Visit intelligentofficeuk.com/cost-calculator UPFRONT ROUNDUP Deal or no deal? lthough many of us here have been off on 1.5%. However, no deal would see growth further our holidays, the legal news cycle reduced to 1.1%. Additionally, this could cost the A certainly hasn’t taken a break. It has been sector up to 10,000 more jobs than a soft Brexit a busy two months, so we’ve condensed (also more than another forecast estimated in just a few top stories down to keep you up to speed 2017). Law Society president Christina Blacklaws as the hard work inevitably resumes. said in a press release: “Brexit is likely to have a Unless you spent your summer holiday significant negative impact on the legal sector in underground, you should be aware that the medium to long term.” Riverview Law announced it was being acquired If any fresh economic turbulence indeed looms, by the Big Four’s EY at the start of August. With perhaps we might see more firms cut a few costs DLA Piper selling off its stake in Riverview, the by nearshoring. Fieldfisher has just opened up a acquisition will allow EY Law to strengthen its new base in Belfast – joining big players there like managed services offering and further position Allen & Overy, Baker McKenzie and Herbert itself as a “leading disruptor of legal services,” says Smith Freehills. The new centre will deal with global law leader (and former Briefing profile) document negotiation and provide legal support Cornelius Grossmann. At the time of writing, the for the firm’s 20 international offices, with an deal is set to be sealed on 31 August 2018 – after expected 125 people based there in three years. which Chris Price, current global head of alliances Brexit isn’t the only big change you law firms for tax at EY, will become chief executive of the should be aware of. The Solicitors Regulation new EY Riverview Law. As highlighted by Authority has launched a public consultation on Forbes’s Mark Cohen, however, many see this as proposed changes to its rules regarding the but a “footnote” in wider industry change “forged reporting of potential misconduct, which would by corporate legal consumers.” hope to give firms greater clarity about their From one decent-looking deal to the prospect of obligations. Following the eight-week none – economic forecasts from the Law Society consultation, the SRA will update its code of and Thomson Reuters are predicting UK legal conduct to reflect any new wording needed. These sector growth by 2025 would halve (a loss of changes will then be submitted to the Legal almost £3bn) in a no-deal Brexit scenario. Using Services Board as part of the SRA’s wider data and forecasts from the IMF’s World regulatory reform programme. Economic Outlook, the National Institute of But other areas of the programme have come Economic and Social Research and the Office of under fire over the summer, as the Law Society’s National Statistics, the forecasts predict that a ‘soft’ Blacklaws has criticised the SRA for pursuing a Brexit would result in 2.2% average annual growth “deregulatory agenda based on flawed premises for the sector, whereas a hard Brexit would see and at the expense of consumers.” Specifically, she has argued against proposals that would allow freelance solicitors to act without the protections of being a recognised sole practitioner, and solicitors to deliver non-reserved legal services from unregulated entities.