Keeping up with the law: The top challenge for independent law firms – find out more with LexisNexis
To stay ahead, it is now a strategic priority for firms to be conscious of changes to the law and the legal sector. Smaller law firms have a greater need to keep up, facing expectations to hold expertise in multiple legal areas as part of their unique service.
Tim Rayner, Head of Small Law Go-to-Market at LexisNexis, says “There’s so much information to sift through, laws are changing quickly, and our legal system is becoming increasingly complex. Lawyers need to be able to jump from one specialist area of the law to another in moments, otherwise they will struggle to keep pace.” This is particularly true for small law firms with imposing pressure to stay updated from all angles.
Read the Bellwether 2024 survey of small and medium sized firms
This blog delves into the challenges faced by small law firms such as a rapidly changing legal climate, increasing client expectations and a smaller support network.
Keeping up with the law is the top challenge
The legal sector is inevitably shifting, with laws changing at an accelerating pace. This scope of change is also impacted by a multitude of factors such as digital transformation, climate conditions and socio-economic shifts. It is no longer viable to follow tradition, the evolving landscape demands firms to be agile to be successful. Lawyers must be able to adjust from one specialist area of the law to another in moments, otherwise they will struggle to keep up.
In larger law firms, it’s becoming increasingly commonplace for lawyers to carve out careers by owning a very specific niche area within the law. Smaller practices must be flexible and diverse in their offering. This makes it more difficult to maintain a comprehensive overview of relevant updates. A staggering 70% of small law firms cited keeping up to date with changes in the legal industry and the law as their biggest challenge in the next 12-18 months.
While smaller practices are known for their high-touch approach to client services, the pressure is rising as client demands evolve, bringing with them a new set of requirements that smaller firms are expected to meet. Four-fifths (83%) of small firms are saying clients expect a quicker response time than before. Lawyers in small law firms are now expected to manage a steeper workload in a quicker turnaround, adding to the significant pressure to stay current with legal changes.
The problem with public access generative AI tools
Small law firms face the conflicting pressures of managing current caseloads from different angles and dedicating time to continuous learning. One of the downsides of working in a smaller firm is having fewer colleagues to consult about specific areas of the law, says Mark Briegal, founding partner of legal advisory firm Bennett Briegal LLP. Lawyers in small law firms are often hyper independent in their own areas of the law. Without the luxury of experts in other areas of the law to consult from, almost a quarter (22%) of lawyers are using free-to-access resources 5+ times a month for legal research, such as Google, forums, blogs or ChatGPT. It is important for lawyers to read the case law alongside the commentary around the case law at source.
While free-to-use AI tools and other platforms can provide some level of assistance, Zoë Bloom, Co-Founder, and Partner at AFP Bloom, advises against relying on commentary without verified sources. “You have to read the case law and the commentary around the case law at source. Relying on commentary without a clear source can be incredibly dangerous.”
The new era of legal research and guidance
A solution does exist in the market to help lawyers find accurate content. Lexis+ is a comprehensive source for legal research and practical guidance. Grounded in trusted LexisNexis content, it is the largest collection of UK law, up-to-date legislation, case law, commentary, and comprehensive practical guidance. Its ability to provide accurate information and insights has significant cost and time savings. With more time to spare, legal professionals can focus on finding the latest updates and developments in the law, thus improving the quality of their firm-client interactions.
Overall, in today’s rapidly changing legal environment, small law firms face unique and daunting challenges. They must constantly internalise dynamic legal updates and meet demanding client expectations. Considering Lexis+ can provide a cutting edge to legal workflow, boosting efficiency to offer a quicker turnaround to client queries. It is possible for small law firms can overcome the barriers of limited capacity and resources with confidence in their legal updates. Ultimately allowing them to remain competitive and agile in a rapidly evolving landscape.
Discover the full findings in our free report, Lessons on law firm growth.
