What are the long term permanent changes likely to be within the legal industry as a result of Covid-19?

[Alice07]

I would appreciate any and all guidance

 

[Jessica Booker]

Any thoughts so far?

 

[Alice07]

An increasing reliance on technology and virtual means of communication? Greater effectivity in working from home? Some points regarding business structure?

 

[Alice G]

An increasing reliance on technology and virtual means of communication? Greater effectivity in working from home? Some points regarding business structure?

These are good points, so next think about what the longer term impact might be of virtual working etc and how this might shape and mould the industry. What business structure points have you thought of?

 

[Naomi U]

Hiya

I recently answered a similar question which might add to the pointers raised above

Hi @Lily721

Firstly, I just want to say that this is absolutely not a stupid question!

There are a number of really interesting topics to consider which have been spurred on by COVID-19. When approaching this question I think a good way to approach your response is to consider the challenges impacting clients as this impacts the type of work carried out by firms, and then to also consider challenges impacting the nature and organisation of firms as businesses.

So for example, a big challenge brought on by COVID-19 has been towards the hospitality sector and traditional brick n mortar type commercial models. What does this mean for firms in terms of their clients and work? Well you could talk about the fact that a lot of clients are in severe financial difficulties meaning there is a greater demand for things like insolvency and restructuring support and distressed m&a work. Arguably, this may mean that many other practice areas face a significant fall in demand.

Another example could be the challenges brought by COVID-19 through the increased reliance on technology and remote working. Therefore an interesting thing to consider and research would be the impacts this could have on the way in which firms tackle issues like data protection and confidentiality.

These are just some examples to give you an idea of the type of things to think about when researching.

Hope this helps! Feel free to ask anything else ( remember there is no such thing as a silly question here ☺️ )

 

[Alice07]

Thank you so much for the ideas in this response Naomi - it really is much appreciated!

Alice, I'm not sure on my business structure points yet - I've been stuck on it

 

[Alice G]

Thank you so much for the ideas in this response Naomi - it really is much appreciated!

Alice, I'm not sure on my business structure points yet - I've been stuck on it

To give you an idea, business structure wise, think about the impact the increased reliance on tech might be having in terms of persuading firms of the value and centrality of tech. Do you think this could mean more firms take an interest in legal technology itself now? This could majorly impact business structure and the way work itself is carried out, it could also lead to firms creating dedicated hubs for legal tech development etc too. I hope this guides you in the right direction.

 

[Alice07]

Thank you Alice, this has given me so much more of a better idea on business structure. I'm very grateful for your advice on this!

 

[Alice G]

Thank you Alice, this has given me so much more of a better idea on business structure. I'm very grateful for your advice on this

You’re very welcome good luck!

 

[Alice07]

You’re very welcome good luck!

Thank you Alice!