New Podcast Appearance: Meet the Attorney: It’s All About Value
Listen as BSL Group CEO David Lopez-Kurtz speaks with Frank Demming on his podcast Marketing Solutions for Local Law Firms. On today’s episode, David shares his thoughts about the future of emerging tech law, the effect of AI and Large Language Models (LLMs) on the legal industry, what it means to truly create value for clients, and “meeting clients where they are”.
Embracing the non-traditional approach
Clients seeking to maximize value of their legal spend can reap the merits of the Alternative Legal Services Provider (or ALSP) model, focusing on integrating technology, enhancing efficiency, and ensuring standardization. This pivot towards ALSPs doesn't merely alter the back-end functioning profit model of legal operations but has tangible advantages for clients. For instance, by employing non-lawyer professionals for routine administrative chores like corporate filings, clients are presented with the the same high-value services at reduced rates. The subsequent savings can then be channeled to secure the best possible counsel, minimizing the perennial quest for cost-cutting.
Harnessing resources effectively
For technology startups grappling with intricate regulatory mazes, Lopez-Kurtz emphasizes the value of timely resource deployment. By employing a diverse team spanning project managers to specialists, BSL Group and other ALSPs can offer a comprehensive management of legal affairs. The ripple effect? Companies can direct their energies to their primary business goals, unhindered by legal entanglements.
Moreover, while acknowledging the intricacies of championing a non-traditional legal model and the potential logistical challenges, it’s important to underscore the manifold benefits. An example cited in the podcast is the impact potential for clients to preemptively manage legal challenges rather than scrambling at the last minute, a strategy that's both economically and strategically beneficial.
AI's role in shaping legal dynamics
The confluence of artificial intelligence with law is an inevitability. But contrary to popular apprehensions, David posits to Frank that AI won't and can’t eclipse lawyers. Instead, the lawyers adept at harnessing AI's prowess will outpace their counterparts. This evolution, he opines, will be a generational metamorphosis, equipping lawyers with enhanced efficiency, accuracy, and, most importantly, improved client service.
The lawyer as a counselor
Beyond the technicalities, the human aspect of the lawyer-client relationship is the crucial factor determining the success of that relationship. He advocates for lawyers to transition from mere service providers to true counselors. Such partnerships, founded on mutual growth ambitions, foster enduring relationships that enrich both entities.
In essence, Lopez-Kurtz's discourse underscores the significance of adaptability, tech integration, and a client-centric ethos. By internalizing these principles, legal professionals can sculpt successful practices, propelling clients towards their aspirations and bolstering the entire legal profession. His insights, undoubtedly, offer a valuable compass for both entrepreneurs and lawyers in a fluid legal terrain.
More about Frank Demming
Frank Demming is the host of the podcast Marketing Solutions for Local Law Firms and CEO of the law firm digital marketing company Local Business Marketing Solutions.
Nothing in this post or related podcast constitutes legal advice or establish a client-attorney relationship (though David is happy to discuss if there is something we can help you with). David can be reached via email at david@bsl.group, on telegram @davidlopezkurtz on twitter @lopezkurtz and on LinkedIn.
