Law new is the legal industry’s response to a shifting landscape and broader customer demands. It will reshape the sector by consolidating it through horizontal and vertical integration, joint ventures, managed services, and other collaborative mechanisms. Moreover, it will shift the industry’s focus from cost cutting to providing innovative and efficient solutions to meet a growing set of customer takeout targets.
Historically, law firms have sought to create value for their clients by offering services at the lowest possible cost. This has resulted in the widespread use of offshore and remote staffing, alternative fee arrangements, and leveraging technology. However, these methods are becoming increasingly inefficient and expensive.
Large law departments are beginning to explore integration that leverages infrastructure, pools expertise, and reduces costs to deliver innovative, efficient legal services at a lower cost. This will allow them to increase client satisfaction and meet rising takeout targets. It will also transform the industry’s business model by reducing its reliance on hourly billing and moving away from fee-based pricing.
Moreover, a well-executed plan that utilizes law new techniques will be able to offer the help some clients need without impacting other areas of practice that might be the primary focus for their legal firm. This can provide a competitive advantage for those who take the time to understand how this type of approach works and how it can be deployed effectively.
Law new also means that the legal industry will more closely resemble its corporate customers and society at large. It will be more diverse, both cognitively and demographically, and it will require more multidisciplinary collaboration amongst legal practitioners, process/project managers, “techies,” and data analysts. Consequently, legal buyers will seek out legal services providers that have the brand, capital, know-how, customer-centricity, tech platforms, agile, multidisciplinary workforces, and footprint in/familiarity with the legal industry.
One example is Trafalgar Law, a pirate who was introduced to the fans in the Punk Hazard arc and established himself as an important character following the two-year time skip. Law is now one of the strongest pirates on the seas and, with his recent Haki upgrade, is nearly on par with Yonko Blackbeard. This power, combined with his superior intellect, makes him an incredible foe for Luffy to face. Moreover, he is likely to get even stronger over time as he continues to train. It is possible that he will eventually reach the level of Conqueror’s Haki, making him an unstoppable force. Until then, though, he will continue to give the Yonko of the New World a hard time.