Miguel “Mike” Mirabal – How Lawyers Can Cope with Trends in the new Legal Landscape

2020 was both a stress and exciting year for the legal industry. As new legal tech solutions and alternative work models continue to emerge, the legal market is becoming increasingly competitive and is constantly evolving. A number of the trends we saw this past year will continue to shape the way we practice law in the year to come.

The following are some trends you can expect to see shape the legal industry in 2021.

Economic Implications of Coronavirus

The impacts of the ongoing coronavirus pandemic are unprecedented. The virus is rapidly leading to record-setting business losses, widespread unemployment and obvious healthcare concerns. We are facing a potential economic recession as a result, which may lead to record unemployment numbers, growth in personal debts, increasing foreclosures and astronomical medical costs. This is likely to result in new regulatory action, which is common during economic downturns. Attorneys play leading roles in the rulemaking process for state and federal agencies, which must update and implement important regulatory changes to keep up with other leading trends of society.

Work-Life Balance and the New Generation

More and more people are seeking out job opportunities that provide them flexible schedules and an amicable work environment. This is especially true with newer generations, which prioritize work-life balance. As firms grow, they must welcome a multi-generational workforce. Modern employees are more productive in workplaces that provide benefits like telecommuting and flexible hours. Additionally, individuals seek out places that value diversity and inclusion, as well as a team of supportive and connected colleagues.

Growth: The rise of nonlaw firm competitor

Nonlaw firm providers are gradually taking work away from law firms, Prescott says, noting the three primary competitors are accounting firms, consultants and contracted lawyer services.

Remote Work

As mobile devices have become more and more common, lawyers have been taking increasing advantage of the ability to work remotely. The days when lawyers were tied to offices are over. In 2021, we’ll see even more attorneys working from home offices and just generally on-the-go

Freelancing

Just as lawyers are detaching themselves from the office, many are detaching themselves from the formal law firm structure entirely. Once a rarity, legal freelancing is now a viable career and freelancers are in increasing demand. Expect to see more lawyers opting for the freelance life in the coming year.

Going Paperless

As technology has advanced and mobile devices have proliferated, the need to cart around boxes of documents has greatly diminished. The amount of documents that once filled an entire conference room can now be accessed on a laptop or iPad, freeing lawyers from a life surrounded by mountains of paper. You should expect to see even more practices going paperless in 2021.

Legal Tech

The fastest growing cost category in law firms today is technology. Prescott says too many firms under-invest in technology until it’s too late. Security issues plaguing the profession today are enormous. “Firms tend not to make the investment until they are hacked and once you lose data, it’s almost too late,” he says. “The biggest reason that happens is partner autonomy overrules client interests, firm priorities and profits.” Prescott says he’s seeing some displacement of lawyers by technology but that it’s more of a trickle than a flood. He says more companies are investing in software that will create the first draft of a contract, draft a patent application or create an outline for completing a merger.

Few things have changed the practice of law in the past decade as much as the advent of legal technology. It seems that new solutions are emerging every day, and that trend won’t stop any time soon. We should see even more legal tech solutions entering the market in the coming year to make lawyers’ lives even easier.

eDiscovery

Technology has not just changed the practice of law, it has revolutionized the discovery process. eDiscovery has been on the rise in the past decade, and we’re at the point where traditional paper discovery is nearly a thing of the past. As technologies continue to evolve and we see more and more new file types being created, the world of eDiscovery will only continue to grow in 2021.

Social Media

Social media isn’t just for sharing clever memes and viral cat videos any more – it’s a legitimate tool for marketing and even doing business. Lawyers have increasingly come to embrace the power of social media and its potential for growing business. While that trend is likely to continue in the coming year, we should also expect to see the ethical issues surrounding the use of social media in the law being explored more fully.

Online and Cyber-Security

Technology has unquestionably brought new levels of convenience to the practice of law, but with that convenience has come a new potential threat to data security. Cyberattacks are a new reality of doing business in the 21st century, and hackers will continue to refine their tactics and come up with more sophisticated methods to illegally access data and funds. In 2021, we’re likely to see continued vigilance on the cybersecurity front as lawyers try to stay ahead of would-be attackers.

Billable Hours

The viability of the traditional billable hour model has been under fire for some time now, and that debate will continue in the coming year as clients increasingly push back on high legal bills and demand more efficiencies. In the coming year, we’re likely to see even more practices abandoning the billable hour in favor of alternative fee arrangements.

Legal Process Outsourcing

As part of the desire to curb legal costs, more and more companies have been looking beyond traditional law firms for legal services, turning instead to alternative legal service providers that promise greater efficiency and lower rates. Today, companies are outsourcing nearly every routine aspect of legal practice. While traditional law firms will never disappear, we’re likely to see even more legal process outsourcing in 2021.

Millennials

We’re in the midst of a clear generational shift in the legal industry. As baby boomers are retiring in increasing numbers, millennials are graduating from law school and entering the workforce. With them they’re bringing an increased reliance on technology and a desire for alternative work arrangements. Millennials will be the major drivers behind a majority of the trends that will shape the legal industry in 2021.

Miguel “Mike” Mirabal – Great Client Service is the Heart of any Legal Practice.

Experienced lawyers will often say, great customer service it is ninety percent of the practice of law. Good customer service in legal is just as critical to success as good customer service in any other field. Clients Consumers have big expectations – if you want to win someone over, take the time to understand the integral elements of customer service in legal. Good customer service means different things to different people. When a lawyer’s beliefs about customer service differ greatly from a client’s needs, the relationship might never get off the ground. In order to form a strong connection and give your client the most satisfying experience, you need to start with a good first impression, which is, of course, good customer service! There are plenty of factors that make a law firm well-known and respected, and customer service is definitely on top of the list.

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Miguel “Mike” Mirabal is a trusted international corporate and real estate counsel and his firm Global Legal – Global Title offer a multilingual – multi jurisdictional team of American and European lawyers and paralegals, each of them with international background and specializing in different areas of legal practice.  Miguel “Mike” Mirabal makes clients feel at easeacknowledged, important, and respected. Running a law firm is a lot like running any other business. Customer service is high on the list that sets the company apart from others, and a positive reputation draws in more clients. Customer service might be even more important for law firms than that of regular businesses since they don’t sell products – they sell experiences. So, if you want satisfied customers that spread the good word about how wonderful they felt while working with your law firm – you have to give it to them. This way, you will not even have to spend time marketing and putting your firm out there, the positive reputation will speak for itself. As a human being, you want to treat others the way you want to be treated. At the end of the day a good reason to give your clients proper customer service is because it’s what’s expected of you. This means making your clients feel like they are your top priority, answer them, listen to them, and try to be as compassionate as you can.

Lawyering skills are often assumed and, while a certain level of competency is essential, often the only time a client knows there is a problem is if you foul something up pretty badly and it comes to their attention. On the other hand, a client will always know, and remember, if you returned phone calls and e-mails in a timely fashion. They will also keep in mind whether you delivered when you said you would, whether you are accessible and whether you are attentive to their needs. It’s really true that lawyers can sometimes hide their level of competency but being non-responsive will never go unnoticed. Working in the law, like working in most other professional fields, entails a certain amount of customer service. Some might say the customer service aspects of the job are the most important.

It’s safe to say that when it comes to building your business – everything counts, even the small things. That’s why it’s important to remember that first impressions do matter in the grand scheme of things, especially when it comes to law firms, bad reviews and unsatisfied customers are a bad look, and on top of that it’s not nice if you treat people badly and don’t give them the right amount of attention and respect. The law firm lives as long as the customers keep coming – so be nice to them, give them the same treatment you’d want someone else to give you!

Miguel “Mike” Mirabal – Managing Business Development and Growth

Development is vital for any business; in the event that you are not developing you are losing ground to Development is vital for any business; and in the event that you are not developing or constantly making your business grow, you are losing ground to your rivals. For what reason is a business development imperative to a business? Development can achieve effectiveness to your business, in certain cases, you will all the more likely utilize your workforce. Different advantages given by development are the extra benefits that can be utilized towards year-over-year brings up in business expenses, for example, worker compensation, utilities, and so on Contingent upon your line of business, you might be affected uniquely in contrast to a business in another industry. In the event that your organization is developing excessively quick, you probably won’t have sufficient money to manage your everyday monetary commitments, including bills, finance, and supplies then Miguel “Mik”e Mirabal will contribute to develop your business.

There are additionally disadvantages to business development that can make a business less productive, and even obliterate a business through and through. Fast extension conveys the danger of making your business unmanageable, all the more expensive, and less productive. Contingent upon your business, the contrast between becoming 10%, and becoming 25% may expect you to twofold your workforce since you won’t utilize your current workforce to take on this new quick development. Furthermore, this fast development in your workforce may require bigger working quarters, just as extra managerial staff. Development can likewise tie up cash, particularly in the event that you need to put resources into buying hardware, or need to move into bigger quarters.

Primary concern, business development is indispensable, it can make your business a serious power, proficient and productive. The degree of development anyway is completely subject to your kind of business, your workforce limit, monetary assets, and generally speaking business structure. The smallest erroneous conclusion can get you in difficulty rapidly, and drive your business to the ground.

Mike Mirabal – Legal Translation and Comparative Law

The conversation of the issues of lawful interpretation from a near law viewpoint rotates around the expression “indication”. Near law examines the distinctions and similitudes between the laws of various nations giving the premise to the creation of bilingual word references that incorporate the data important to make lawful correspondence across borders fruitful. It additionally helps common agreement and the scattering of bias and confusion. A lawful term under overall set of laws A comprehended as a foundational term, is changed into another term under general set of laws B by discovering a term that compares with the capacity of the lawful term under general set of laws A. This permits, for instance, the English legitimate term trust to be converted into German as Treuhand in specific cases. Mike Mirabal Corporate maintenance for several Maltese, BVI, Panamanian and Spanish Companies as well as provided legal counsel to a leading global entrepreneur in their European / US acquisitions, Joint Ventures and investments.

In the interpretation of lawful terms, one regularly falls back on sets of terms that show up by one way or another associated by a relationship of equality. The lawful signifies, which need to date been applied in the enlightening model, have the equivalent lawful “meaning”, yet the inquiry is what do they indicate? At any rate, the trouble may represent that the two assigned terms may do not have a typical mean. They work uniquely in contrast to equivalents; the expressions “signify” exactly the same thing to legal scholars, despite the fact that they are not indistinguishable. They are likewise not actually comparative since they exist with regards to various legitimate and language frameworks, yet, they stay equivalent. It very well may be securely said that the utilitarian technique for relative law has demonstrated the likeness of legitimate terms.

The current discoveries of for the most part phrasing orientated examinations on the interpretation of legitimate writings have characterized the fundamental issue in lawful interpretation as the lawful and specialized capability of lawful foundations. The issue of capability, which is the reevaluation of generally contrary legitimate terms, can be settled simply by similar law strategies. In any case, the extent of discussion encompassing legitimate interpretation is portrayed by an expanding measure of inquiries that identify with the specialized language and logical parts of lawful language. These are thus components of lawful phonetics – which is without a doubt an advancing field of study for which the conditions and techniques should in any case be explained.