Hong Kong

By Estefania Altuve and Matthew Roberts of KorumLegal

With the rise of NewLaw outfits revolutionising the legal services industry, much of the conversation is dominated by the value of alternative legal solutions (ALS) providers from a client perspective — and rightly so! Yes, the legal landscape and the way businesses approach legal services is certainly changing but the people are changing with it. We take a better look at the type of lawyers and consultants we work with and the appeal of NewLaw.

What is it that attracts ‘talent’ to NewLaw?

There are a number of appealing factors that attract talent to NewLaw; frustrations born from the demands of traditional firms, the exciting nature of project-based work, exposure to a wider range of sectors / industries and the flexibility and self-direction of being a freelance consultant.

Another very important element we’ve identified in people who join KorumLegal is that they are looking for something different! More than flexible work arrangements, Consultants want to have a sense of belonging and a great number share our passion for shaping the new reality in legal solutions.

What types of legal consultants does KorumLegal attract?

Originally, our consultant base held a high percentage of senior lawyers with in-house experience interested in more flexible working arrangements, autonomy and the opportunity to choose work that truly picks their interest. As technology continues to change the way businesses operate, some senior lawyers have identified that in order to remain competitive they must get exposure to “newer” companies and industries — NewLaw provides that opportunity.

Demographics are certainly changing and we’re seeing more and more junior lawyers attracted to our model. We believe the rise in tech start-ups, crypto businesses and legal tech has been a big factor in this change. These businesses are often smaller outfits without the budget for the traditional legal service providers or permanent legal counsel so the opportunity to collaborate with ALS providers is massive. There really has never been a better time for junior lawyers to become an expert and define a skillset in these emerging tech industries.

Who’s suited?

Freedom, flexibility and autonomy at work may sound dreamy, as well as the concept of “working from home” and for those who haven’t had the opportunity to do so, this may sound like a beach holiday with your laptop (maybe even sipping a Margarita by the pool), but is it really for everyone? Are you really suitable for the NewLaw model? If so, what do you really need to jump into it?

Being a consultant to different companies you have to be agile, organised and adaptable. You’ll be exposed to different working environments, different business processes and different ways of working. This is definitely an exciting prospect, but you must be open to change! Lawyers with commercial awareness will also thrive. Clients now look for consultants who can think laterally and provide advice that takes into account the overall business needs.

Now, if you’re working remotely and leveraging on technology solutions to deliver value to your clients, you also need to develop a varied skill set. Lawyers on our bench model share that they need to be a lot more disciplined; time management is key when working remotely and communication skills are extremely important when you’re not in front of your client. This one might sound a bit obvious but as a lawyer working remotely you will need to get up to speed with technology! You now will have to leverage on several tech tools to make your job efficient but also to communicate effectively.

Finally, you need to stay self-motivated. Working remotely can sometimes feel like a lonely place and this is something we are working hard to address through our KorumLegal Community.

Alternative legal services are not an escape. It is now a genuine alternative for bold and innovative lawyers keen to take more control of their careers, work with exciting and ever-changing clients, develop a better commercial skillset and, most of all, break the mould from traditional law!

Estefania-profile-greyscale Matt-Roberts
Estefania Altuve Matthew Roberts

W: https://www.korumlegal.com/

Related Articles by Firm
Legal Hierarchy and Accessibility
Customers focus on value instead of the hours engaged by lawyers ...
"You can’t manage what you don’t measure"
….so said a General Counsel in a recent discussion we had about the use of data in their legal department.
More for less, more for less, read all about it!
A summary of some of the actions GCs are taking in order to turn their challenges into opportunities ...
Diversity in the workplace
Make 2020 the year of real change.
The hidden benefit of using your inbox for legal project management
How to keep the flexibility of inbox management while getting rid of the poor visibility and control.
Is it time for a leadership check?
Covid-19 is making us re-evaluate the tools we use, the way we lead and is bringing our truest values to the forefront.
Resilience and opportunity – Your survival mindset
Covid-19 is going to force change upon all of us, acting as a catalyst for adjustments to our personal and professional lives.
Use the "crisis cycle" of coronavirus to pivot your legal practice for the better
We can take this opportunity to embrace and drive change.
Contracts – Why can't we make this process more efficient?
Contracts have been around for centuries. So, why is it that it remains a long, protracted, tedious and inefficient process?
The legal operating model – five key insights
Examining the combination of roles, skills, structures, processes, assets and technologies that allow an organisation to deliver on its strategy.
Three “must have” legal solutions to reduce costs and increase value
External forces are requiring business leaders to consider political, social and environmental impacts.
Adding value – A consultant's perspective
Adapting to the client's changing needs is at the core of the role.
Navigating a looming recession: Five strategies to prepare you for the storm clouds
The most common risk-mitigation strategies that legal teams take when facing a downturn in the market.
Investing in uncertain times is not a paradox, it is a solution
Redesigning legal processes can deliver efficiency gains of between 15% and 50%.
Three key skills I wish I'd been taught in my law degree
Legal educators must arm graduates with the tools needed to embark on their legal journey.
Are you optimising project management skills in your legal department?
Because you should! We all need to upscale our skillset in areas of people, process and technology.
NewLaw takes-off in Southeast Asia
Rob Shakespeare of KorumLegal discusses the market for flexible and innovative legal solutions in one of the world’s fastest-growing regions ...
Don’t suffer FOMO* for Southeast Asia LegalTech!
Avoid the 'fear of missing out' by embracing the incredible opportunities technology offers.
Accessing new markets in APAC – Essential questions you must ask!
New market opportunities in this region are immense, but there are challenges.
How technology drives managed legal services
Managed legal services are an increasing area of focus for consumers and are starting to make significant inroads into Asia and APAC.
Creating value in law. Is it time to Stop, Collaborate and Listen?
To ensure that we’re creating excellence, we need to think, without distraction, of the bigger picture.
Payments regulatory landscape in APAC: Six things to be aware of
Important considerations for payment service providers operating in Asia Pacific.
A journey from traditional working practices to a flexible workplace
Policies that let employees work remotely can improve productivity and reduce staff turnover.
Innovation in legal services: What it is and how we do it
To begin the innovation journey, we should first understand what we are talking about.
Managed legal services: part of a new paradigm for the legal solutions market
The emergence of alternative legal solutions is giving clients a lot more choice.
Your first 10 days as a legal consultant
The challenges facing legal consultants are unique and require a different set of skills to other employees.
Nobody's got time for that! General counsel and legaltech
How to overcome the lack of time, resources and knowhow needed to implement technology solutions.
Law as a process
How process design defines value, delivers efficiency and drives business strategy.
Lifting the veil on payments
Payments companies need to understand and comply with many complex laws and regulations.
Related Articles
Related Articles by Jurisdiction
Breaking new ground
After 35 years with GE, Stephen Maloy, General Counsel Asia Pacific, talks about turning challenges into opportunities, the importance of diversity in a multinational organisation, and the qualities GE looks for in external counsel.
Latest Articles