Caveat Venditor, let the seller beware. As states change regulations the legal services industry is being primed to become a buyers’ market. Law firms need to be prepared to adapt their business model to changing times. But adopting an entrepreneurial mindset doesn’t necessarily come naturally.
Adapt or die. Tech companies disrupting industries is nothing new. But it’s a challenge the legal industry hasn’t had to face, until now. A growing list of state supreme courts are proposing and enacting major regulatory changes. As regulations evolve, the door is opening for tech companies to totally change the game for small to midsize law firms.