The Power of Perspectives

The Canadian Bar Association

Yves Faguy

Q&A

Law is A Buyer's Market: Jordan Furlong talks about his new book

By Yves Faguy March 24, 2017 24 March 2017

Law is A Buyer's Market: Jordan Furlong talks about his new book

 

CBA National sat down with author and analyst of the global legal market (and former editor-in-chief of this publication) Jordan Furlong to talk about his just released book, Law Is A Buyer’s Market: Building a Client-First Law Firm in which he describes a rebalancing of power in the legal marketplace from sellers towards buyers, and offers some guidance on how law firms can respond to this fundamental shift.

CBA National: What surprised you the most about writing this book?

Jordan Furlong: I suppose one of the positive, unexpected takeaways is that we're not as far behind, collectively speaking, as we might otherwise have expected to be. When I first approached the subject, I proceeded on the assumption that there really weren't very many examples of law firms or organizations that are making strides towards becoming the kind of legal service supplier that the legal market requires. And I'm happy to report that there really are some. The obvious ones that are always mentioned – and they should be. In the U.S. Bryan Cave is a clear leader; Littler Mendelson, which of course now has an office in Toronto; Seyfarth Shaw.  Some other firms don't get quite as much attention but are making strides in this direction: Perkins Coie is one of those; Davis Wright Tremaine certainly. Here in Canada, Gowlings usually heads my list of firms that are making real strides in this direction. But McCarthy's is making a serious investment and so is Osler. Among increasingly innovative Canadian firms, there’s Blakes and Torys too. I think the primary value in that for lawyers and law firms is they can say, “look, this can be done and it is being done right now in the market. There's no reason why we can't do it either.” And they can point them out to more skeptical colleagues.

N: So let’s say a firm recognizes that law is now a buyer’s market and is ready to align their innovation strategy, their interests and priorities with those of their clients. Where do you start?

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Climate law

Do not backtrack: Non-regression in environmental law

By Yves Faguy March 22, 2017 22 March 2017

 

When progressive political leaders remind us that “the arc of the moral universe is long, but it bends towards justice,” the statement includes a caveat – that the arc does not travel in a straight line and that there will be setbacks.

But for climate activists, for whom time is of the essence, setbacks are to be avoided at all cost. “Do not backtrack” has become something of a rallying cry against regressive government action (or inaction).

In legal terms, that has led to calls for the recognition of the principle of non-regression in environmental law and policy, even as a fundamental human right. As University of Ottawa law professor Lynda Collins explains in the video above (around the 3:20 minute mark), non-regression means that part of one’s right to a healthy environment is to “have today’s level of environmental protection preserved.”

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Conflicts of law

From taboo to transparency

By Yves Faguy March 15, 2017 15 March 2017

From taboo to transparency

 

One of the most significant developments over the last decade in the legal world has been the rapid spread of global litigation finance.

It’s easy to understand its appeal, particularly in strict financial terms. Law firms can share some of their risk with investors, who in turn spread it across a portfolio of cases. As an asset class it isn’t tied to the volatility of financial markets. And for plaintiffs, the practice is a means 
to overcome financial barriers to access 
to justice to go after deep-pocketed and well-insured defendants.

But there are also reasons to watch 
out for some of the disruptive effects it 
can have on our justice system. Critics describe litigation funding as the “Wild West of finance,” largely unregulated, 
or only mildly so by judge-made law and a patchwork of statutes, oftentimes at the subnational level.

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Q&A

Andrew Arruda’s big bet on AI

By Yves Faguy March 15, 2017 15 March 2017

Andrew Arruda’s big bet on AI

 

CBA National caught up with Andrew Arruda, one of the co-founders and CEO of ROSS Intelligence, the artificial intelligence-based legal research platform. Yves Faguy asked about the hype surrounding AI, what it means for law firm hiring and what legal organizations should do about it.

CBA National: So, is artificial intelligence being overhyped in the legal marketplace?

Andrew Arruda: As with most new technologies, oftentimes people overestimate where it is today and underestimate where it is going tomorrow. When you interact with an AI system, what typically occurs is that humans want it to be able to do every single thing a human can. And that’s because they grow up watching sci-fi, etc. But that’s just not where we are with AI today. It’s not going to be able to go into court and argue a matter for you, and I don’t know if it ever will. But it’s already adding a ton of value. We see it in legal research, finding better results. You see companies who have brought it into the diligence space – it offers a lot of efficiencies there. Really when you start moving lawyers away from information retrieval so that they’re not doing that, they focus in on high impact work, advising clients, and that speeds 
up their learning curve.

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Trade

When the U.S. turns its back on Pacific trade

By Yves Faguy March 14, 2017 14 March 2017

 

 

Adam Behsudi reports on the trade fallout from the U.S. dumping the TPP:

Competitors say they have no choice but to take the money U.S. businesses would have earned otherwise.

“We are not trying to take market share from the U.S. It’s more like you are putting money on the table and pushing it towards us,” said Carlo Dade, director of trade and investment policy for the Canada West Foundation, a Calgary-based think tank.

Carlos Dade (featured in the video above) has an interesting primer where he ranks the possibilities for the other TPP prospects, including Canada:

Without the TPP, Canada does better defensively in not having to worry about competitors gaining access to the U.S. market. But it does worse offensively in having the poorest access to Asian markets of any country on the Americas’ Pacific coast. This makes Canadian attempts to diversify away from its dependence on the U.S. market more difficult.

Canada also appears to stand to gain the most from the TPP going ahead without the U.S. as its companies, but not American firms across the border, will have preferential access to the new bloc. This could create a powerful incentive for firm relocation. Mexico will receive a similar but potentially smaller boost as it lacks Canada’s English language operating environment for service firms.

All of this could be viewed offensively, in both senses of the word, by the Trump administration.

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