Mark A. Cohen to visit Bucerius Law School November 2019
The focus of this year's 9th Autumn Conference of the Bucerius Center on the Legal Profession is Managed Legal Services. But what exactly are “managed legal services” and will they replace our traditional models of legal service delivery in the future? The Bucerius Center on the Legal Profession asked Mark A. Cohen, founder and CEO of Legal Mosaic, and speaker at the 9th Autumn Conference inNovember, for his opinion.
What exactly are managed legal services?
Mark: “Escalating demands on corporate legal departments to “do more with less” have raised their expections and performance bars to levels that even elite law firms cannot wholly satisfy. Leading corporate legal departments need much more than top-tier legal expertise; they also require a new class of providers with scale, substantial capital, and an ability to integrate legal, business and technological expertise backed by a seamless global infrastructure to tackle sophisticated, high-value business challenges. Law has long been controlled by lawyers that have forged its insular culture, monolithic structural and economic models, standards, regulation, and language. That was when law was solely about legal knowledge and legal delivery was synonymous with practice. It’s a new ballgame now. Legal services are whatever clients need to solve complex business challenges. Legal departments and law firms are neither prepared nor equipped to meet these urgent and formidable challenges. This is where a handful of managed legal service providers, or “enterprise legal service providers”, as I like to call them, come in.”
How are managed legal service providers different from law firms?
Mark: “Enterprise legal service providers have built their structures, economic models, platforms, infrastructures, access to capital, and agile workforces from the consumer perspective. This is not a catch-phrase as it has come to be on websites and in legal tabloids. ELSP’s were designed to respond to the most pressing, unaddressed legal function use-cases. That is why ELSP’s have a deep, agile pool of domain expertise in commercial contracting, intellectual property, data management associated with litigation, investigations, compliance, and risk management. These areas constitute the vast majority of legal spend. ELSP’s operations in numerous major business centers around the world are staffed by domain experts in the global regulatory landscape. This ensures smooth, timely execution and is a key component in ELSP’s ability to handle enormous, complex matters for the world’s largest corporations. Size, breadth and depth of expertise, capital, a global footprint, technology platforms, constant improvement, and lifelong learning all matter. This is true customer-centricity. It is also an outstanding opportunity for legal professionals to leverage their skills—and acquire new ones—in a dynamic environment. ELSP’s are legal delivery’s future.”
Mark A. Cohen will give a keynote speech on Managed Legal Services at the 9th Autumn Conference of the Bucerius Center on the Legal Profession (CLP) on 14 November 2019, presenting his views on the topic and providing an overview of the international status quo. In the meantime, we recommend the following reading: Law's Emerging Elite: Enterprise Legal Service Providers, Part 1, Part 2 & Part 3.
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