Clients are the biggest competitors to law firms and are taking work from them, a top European marketer says. Andrea Miskolczi, chief business development and marketing officer at Wolf Theiss, says inhouse teams are investing in technology and, with only one sector and one client to understand, are bringing more work in-house. Speaking on 'Managing Innovation in the Face of Disruption' at the Law Firm Marketing Summit, she said that the disruption occurring in the legal marketplace was a natural progression of what has happened in other industries and that if law firm partners could charge for every hour, they would not be under pressure to invest in technology.
Re-imagining legal services
Technology was at the forefront of Baker & McKenzie's thinking, according to Alessandra Almeida Jones, Baker & McKenzie EMEA head of marketing and communications. The firm had an innovation committee which operates as an accelerator following the venture capital model, she said, adding that in five years, the question would be 'how we start, as lawyers, to re-imagine not just the delivery of legal services but legal services itself.' Ms Almeida Jones said that true innovation for the firm was the concept of partnering with clients to create solutions.
Kinstellar director of BD, Michael Guiney said his firm had set up an innovation committee to look at opportunities with two venture capitalists, two young lawyers and two start-ups. 'These are helping us form our view of what we do,' he said.