What is New Law?
New Law is a catchall industry term that encompasses legal tech, legal ops, alternative legal service providers (ALSP’s) and other startups, companies, and law firm subsidiaries augmenting traditional legal services. Its ubiquity has led to the proliferation of legal innovation initiatives branded with the moniker, though most lack concrete definition and have yet to produce real change.
The rapid pace of business and society, significant global challenges that cannot be mastered by a single person or function, and accelerating change require a collaborative approach in which the legal function can–and often does–play an important role. Collaboration is not simply a buzzword for the legal industry; it’s an essential and increasingly critical component of surviving and thriving in the new world order.
As the practice of law continues to evolve, the legal industry will more closely resemble its corporate customers and society at large. It will be more diverse cognitively, demographically, and culturally, and its workforce will be creative, tech proficient, and empathetic. It will also be more holistically integrated and interconnected – working across the enterprise, with business units in other industries, and in communities at large.
A key factor in a successful law firm will be its ability to collaborate with other business functions, stakeholders, and communities. Legal departments that are well-versed in the art of collaboration will be able to leverage new technologies, processes, and partnerships to improve the value of their products and services. Those that don’t will be left behind.
This bill would amend the City’s laws on data breaches by extending the requirement for City agencies to disclose security breaches of private identifying information to affected persons and the public. It would also align the law with State law.
In the new world order, legal buyers will require more cost-efficient and agile solutions that are scalable, accessible, affordable, efficient, data backed, practical, and solution driven. They will also want a partner that can support them in managing risks, protecting intellectual property, and navigating a rapidly evolving regulatory environment. A legal platform will be a crucial tool in achieving these objectives. It will be a safe and secure repository of legal knowledge and collective experience that can deliver fast, practical, predictable solutions to once “bespoke” legal matters.