jordanfurlong + mdp   4

A Multidisciplinary Future to Solve Legal Problems - Prism Legal
I’ve long thought that for law firms to deliver more value to clients, they must work more effectively across disciplines. It’s not just about the law anymore. In the past, economists, communications specialists and a range of expert witnesses contributed to legal solutions. But it was incidental, not core. Skills beyond law are rapidly becoming core to legal service delivery. The outlines of that are already clear, with some firms hiring data scientists and AI specialists. Increasingly complex business and legal problems mean this trend will continue and likely accelerate.

Law firm talent wars today seem myopically focused on lawyers. The challenge of recruiting top legal talent pales in comparison to hiring top AI and data science talent. Both fields are growing explosively but the talent is not. Firms that want to win the war for that talent—even for consulting support—must eliminate the caste system. They must banish not just the term ‘non-lawyer’, but also the thinking behind and projected feelings from it.
talent  mdp 
june 2018 by JordanFurlong
Law Firm MDPs Part 3 – Integrated Multi-Disciplinary Practices | Rainmaking Oasis, LLC
The more recent and prevalent trend for law firms seeking to respond to client needs for a fuller, more comprehensive business solution to their legal needs has been to more formally hire and integrate non-legal professionals directly into the law firm service platform. This model is more closely aligned with how major consulting firms and the Big 4 offer multi-disciplinary solutions to clients. In some cases, these are formally recognized as distinct MDPs within the firm, e.g., the Tax Accounting Group at Duane Morris which we will describe below.  We found at least 18 of these marketed by law firms as internally Integrated MDPs. In other cases, these reside within current practice or industry groups in the firm as in the case of Hogan Lovells’ Cyber Risk Services Group and its strategic communications services (described below.)
mdp 
november 2017 by JordanFurlong
Law Firm MDPs and New Delivery Models Part 2 – Subsidiaries | Rainmaking Oasis, LLC
 Several reasons that law firms set up these multi-disciplinary practices as separate subsidiaries are as follows:

They can be marketed separately to and engaged by non-clients of the law firm (but usually will be run through the law firm conflicts system).
Law firms can attract highly experienced, credentialed professionals to build and lead these businesses — these individuals often prefer not to become “employees” embedded within a law firm where they inevitably would not have the authority/control over their destiny, the partners would.
They are run as separate profit centers; in some cases, all law firm partners invest in and share in the profits of the subsidiary, in other cases, law firm partners may decide if they want to opt in.
In our research, we were able to find nearly 70 law firm subsidiaries in existence in the United States, although that number likely is low as we did not do a comprehensive search. Interestingly, this number has remained relatively steady in the last twenty years as firms have added or disbanded this form of MDP. The types of services offered by these subsidiaries is broad:
mdp  subsidiaries  innovation 
october 2017 by JordanFurlong
Law Firm MDPs and New Delivery Models Part 1 – A Primer | Rainmaking Oasis, LLC
FIRST, SOME DEFINITIONAL CLARIFICATIONS
Law firms are finding innovative ways to service clients using multi-disciplinary talent and tools, despite regulatory roadblocks.  We intend to cover a range of the types of service entities and platforms law firms are creating and offer the following definitions for purposes of this series of articles. [Disclaimer: These definitions have not been formally or publicly approved by any regulatory or governing body!]

Subsidiary – This refers to a consulting or service arm that is wholly-owned by the law firm.  Most often, subsidiaries have been founded by and often still run by a partner in the law firm who wears two hats. Clients served are most often law firm clients but several subsidiaries serve independent clients. who have passed through the law firm’s conflicts system.

Affiliate – Occasionally a firm will call a wholly-owned subsidiary an affiliate but more often this term refers to a joint venture relationship in which there is shared revenue and profit or some other financial and legal contractual relationship.

Integrated Multi-Disciplinary Practice – This term will be used to describe service offerings housed within firms that are provided by lawyers as well as other professionals such as consultants, lobbyists, knowledge management and technology specialists, economists, and practice managers.  This will describe an approach to client problem solving in which multiple types of expertise and experience are brought to the table.

Service Delivery Solutions – This category applies to new tools and resources, many of which incorporate technology and process improvement tools to enable more effective and efficient service delivery models and information.
mdp  innovation 
october 2017 by JordanFurlong

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