As a managing partner in a top London firm put it, “Up to this point, law firms have been simply practicing law. Now, we have to run a business that practices law.”
Many in the business of law have not changed with the times. Just adding a website and a few software tools isn't what attracts new talent. There is a national trend that business professionals are demanding a balance to their career, family and life enjoyment.In this day and age, where the legal profession has become increasingly commoditized — an online company called LegalZoom provides wills for $69, for example — and the likes of IBM are investing millions of dollars into artificial intelligence to automate legal services, the tradition of practicing law, at least as we know it, is no more. - Colliers Insights Top 5 Law Firm Trends You Didn't See Coming
Particularly interesting to those in commercial real estate, the trend is:
A law firm’s brand is in its address. More and more, law firms are using their spaces to make a statement. They’re letting their layout and location speak volumes in terms of their image, market differentiators, talent pool and strategy. A prominent Vancouver law firm has chosen to relocate to a coveted downtown address, creating a buzz in the industry. Such a move suggests the company is progressive, modern and adaptable to the trends and changes within the legal profession. The new address is also poised to recruit — and retain — the best in the field.Jerry Slusky