Future of Law – Industry News

Lawyers gradually getting their heads in the cloud

The Jazz on the Mountain at Blue festival near Collingwood, Ont. brought together nearly 100 musicians in July. More impressive is that it came together in the spare time of a commercial litigator who regularly handles million dollar cases. “I did that in combination with a full time law practice. That would be by most people’s definition simply impossible. What allowed me to get it all done were the developments in online collaboration software,” says Arnold Schwisberg of Schwisberg & Co. Barristers & Solicitors. Solo practices accounted for 77% of Ontario’s firms in 2013. With low overhead comes with the burden of accounting, book keeping, data entry, and number of other time-sucking chores. Technology seems an obvious solution, but that’s no easy sell in a legal community that is notoriously resistant to change. [Read more…]  

The View From Up North: How Much Do Canadian Law Partners Earn?

According to the latest Am Law 100 rankings, Wachtell Lipton had profits per partner of nearly $5 million in 2013. Meditate on that for a moment. Breathe in through your nose. Breathe out through your mouth. Five million bucks per year. Breathe in through your nose. Breathe out through your mouth. I lost the slidy-thing from my slide ruler so I have to do this in my head, but I think that’s about $100,000 per week per equity partner. A little less than a newbie associate makes in a whole year outside of the major metropolitan areas. [Read more…]  

In-house contemplate software tools to improve productivity

In order to tame the documents and processes swirling around them, in-house departments are embracing technology tools as a way to become more efficient and improve relations with other business units. A recent Thomson Reuters survey found more than half of law departments’ time is spent on four activities: • contracts/transactional work; • litigation; • advising the business, including executive management and operational departments; and, • regulatory and compliance matters. [Read more…]  

Industry News


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When: Wednesday, October 22, 2014 to Thursday, October 23, 2014

Where: One King West, Toronto

To Learn more visit: www.CanadianInstitute.com/futureoflaw