Legal industry buzzwords like “law new” are a reminder that the legal field is evolving at a blistering pace. The rapid rate of business and society change, combined with the innate difficulty of human adaptation to change, have created new opportunities and risks for law firms.
The legal industry’s ability to adapt to this new world requires a paradigm shift in the way we deliver legal services. It must become more client-centric, less ego-based and more collaborative with the businesses and societies that we serve. It must also incorporate a greater focus on value creation and high net promoter scores, not traditional metrics such as billable hours, cost efficiency, profit preservation and lawyer self-gratification.
To accomplish this, the legal function will become more holistically diverse-cognitively, demographically, culturally and experientially. It will be staffed with employees that are more creative, tech-proficient and data-savvy. It will work cross-functionally with enterprise colleagues and a wide range of external providers to produce accessible, affordable, on-demand, solutions-based, collaborative, legal products and services that enable businesses and societies to navigate risk, capture opportunities and operate at the speed of business and society.
Local Law 13 of 2022
This law would require City agencies to provide their employees and job applicants with notice of federal and state student loan forgiveness programs. The Department of Citywide Administrative Services would prepare this notice in consultation with the Department of Consumer and Worker Protection. City agencies and employers must also provide employees and job applicants with information about the availability of these loan forgiveness programs and how to apply for them.
New York City Laws and Rules
To understand what makes something “law new,” you must look at it in a more expansive sense than the traditional definition of law that relates to governing or interpreting existing legislation. New law is a process that allows legal services to be offered in ways that were previously not possible or practical. This is a paradigm-shifting concept that has the potential to revolutionize the legal industry and create tremendous value for clients and companies that utilize it.
The new law concept has a lot of potential for all legal firms to exploit. It allows them to offer the kind of legal help that many clients need without impacting other areas of legal practice that might be their primary focus. Taking advantage of the new law concepts could mean new sources of revenue, increased client satisfaction and a more flexible business model.
The law new concept requires a mindset that is open to exploration and experimentation. The key is for lawyers to develop a plan for using these ideas that can be implemented with minimal disruption to the firm’s primary business activities and that can be scaled up quickly as needed. It is important to remember that the law new concept is not a substitute for legal advice. It is important to have an attorney licensed in your jurisdiction review any legal issue that you are experiencing.