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
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
Joko Widodo re-elected: How will it affect doing business in Indonesia?
In his election campaign, Jokowi declared nine missions ...
Africa: Guinea emerging from the shadows
Recent reports from three respected international organisations sketch a relatively upbeat picture of economic prospects in the west African state of Guinea ...
Philippines: The POGO problem – Harmonising immigration, gaming and gambling
It is highly illegal to gamble in China save for a few state-run lotteries. To avoid this prohibition, gambling companies operate offshore so that they may continue catering to Chinese nationals who play casino and e-games online ...
Related Articles by Jurisdiction
Rasmus Hougaard, global leader of mindfulness launches 'one second ahead' in Hong Kong
Simply put, mindfulness can be defined as the faculty of being aware of where one’s attention is placed, moment-by-moment, and at the same time monitoring one’s intentions, intuitions ...
Prohibition against transfer of personal data outside Hong Kong
Section 33 of the Personal Data (Privacy) Ordinance (PDPO) prohibits the transfer of personal data to places outside Hong Kong, except in circumstances specified in the PDPO.
KWM targets Greater Bay Area with international centre
King & Wood Mallesons is getting on board with China’s plan to integrate Hong Kong, Macau and nine cities in Guangdong.
Latest Articles
Joko Widodo re-elected: How will it affect doing business in Indonesia?
In his election campaign, Jokowi declared nine missions ...
Africa: Guinea emerging from the shadows
Recent reports from three respected international organisations sketch a relatively upbeat picture of economic prospects in the west African state of Guinea ...
Keeping track of sanctions
Governments around the world are increasingly using economic sanctions and embargoes as a foreign policy tool ...