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Five legal trends heading into 2023

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Five legal trends heading into 2023

Posted by: Latin Brains
Category: All, Law firms’ trends

According to the Wolters Kluwer Future Ready Lawyer Survey 2022, these are the top five legal trends heading into 2023:

  1. Tech: 79% of legal professionals report that the increasing importance of legal technology is a top trend. More than ever, the use of technology is important – to law firm selection and retention, day-to-day operations for corporate legal departments and firms, and as a productivity solution, talent attractor and performance driver.
  2. ALSPs: While legal departments report they are insourcing more work, both legal departments and law firms are increasingly leveraging different types of external arrangements to get work done – from contractors to alternative legal service providers (ALSPs), non-legal staff and more self-service for clients. 84% of corporate lawyers reported making higher use of ALSPs, contractors and non-legal staff.
  3. Volume and complexity of information. The increased volume and complexity of compliance and new and emerging areas of law are presenting significant challenges for legal professionals. 79% of legal professionals say coping with increased volume and complexity of information is a top trend with impact. Only 34% say they are very prepared to manage it.
  4. Hybrid work.  69% of corporate lawyers expect to work remotely from home all or part of the time; 31% plan to work in the office full-time, either as required by their company (22%), or because they choose to (9%)
  5. Corporate practice: Corporate legal departments are demanding more from their law firms: value, expertise and efficiency are key. At the same time, client-firm relationships improved.
Author: Latin Brains