Anaya Nolan
The term Big Law refers to the largest law firms in a nation, defined by the number of lawyers, revenue size, and number of offices. These firms are at the top of their practice and offer junior attorneys the opportunity to work on significant cases and learn how to serve clients. However, attorneys in Big Law are under constant pressure to perform and face economic uncertainty and career instability. New Law, on the other hand, refers to the delivery of legal services through innovative technology and flexible resourcing. Ashurst, a global law firm with a strong finance specialty, has a NewLaw division called Ashurst Advance that provides technology-enabled legal services worldwide. Ashurst Advance supports legal teams with process, resourcing, and technology solutions, and the firm believes that New Law offers distinct career opportunities separate from the traditional track. As such, large firms should invest in developing their technology personnel to adapt to the changing landscape of legal services.
| Characteristics | Values |
|---|---|
| Global presence | London, New York, LA, Austin, Singapore, France, Italy, Middle East, Australia |
| Established | Over 200 years |
| Number of lawyers | 40+ new hires a year; 1,000+ lawyers in top firms |
| Revenue | £961 million |
| Profit per equity partner | £1.34 million |
| Clients | Top tier clients in global markets, including the biggest investment banks in the world |
| Workload | High quality, with opportunities to try new things; process-driven tasks outsourced to Ashurst's wider legal delivery team |
| Training | Trainees are well-supported by their peers and have many opportunities to learn and grow |
| Work culture | Supportive, friendly, collaborative, encouraging |
| Pro bono work | Refugee and asylum casework, domestic violence matters, helping the homeless, conservation projects |
| New Law | Tech roles alongside lawyers, with opportunities for career development in eDiscovery, project management, etc. |
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What You'll Learn
New Law's focus on technology
New Law focuses on the use of technology to deliver legal services more efficiently and effectively. Ashurst's NewLaw division, Ashurst Advance, leverages the latest technology and user design principles to streamline legal processes, optimise the delivery of legal services, drive engagement, and build products that meet the challenges of a rapidly changing legal and regulatory landscape.
This approach recognises that as more and more law is delivered through New Law, there will be increasing opportunities for people to develop their careers in this field, distinct from the traditional legal career path. Large firms need to develop their technology personnel and create diverse teams that include both traditional lawyers and specialists in areas such as eDiscovery and project management.
By embracing technology and diverse skill sets, New Law firms can provide end-to-end solutions to complex business challenges, spanning legal, risk, and compliance issues. This includes managing obligations, cyber resilience, and the M&A lifecycle to maximise deal value and risk protection.
In contrast, Big Law refers to the nation's very large firms, defined by a high number of lawyers, significant revenue, and multiple offices. Big Law firms are at the top of their practice and offer expertise in specialised transactional matters or complicated litigation. However, they face economic uncertainty and career instability, with constant pressure to reduce costs and increase billables.
While New Law focuses on innovation and technology-enabled legal services, Big Law was traditionally associated with elite Manhattan law firms, though more than half of the nation's leading firms are now based outside of New York. New Law creates opportunities for career development in technology-related roles, offering a distinct path from the traditional legal track.
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New Law's distinct career path
Ashurst is a global law firm with a strong finance specialty and a presence in the US, UK, Middle East, Singapore, France, Italy, and Australia. The firm has a notably "Silver Circle" aura in its London office and has experienced nine consecutive years of growth, with global revenues climbing 9% from £879 million to £961 million.
Ashurst's NewLaw division, Ashurst Advance, delivers innovative and technology-enabled legal services to clients worldwide. Ashurst Advance supports the firm's legal teams with process, resourcing, and technology solutions, and works seamlessly with the firm's legal advisory and risk consulting teams to provide fully integrated solutions.
The head of Ashurst Advance Delivery, Mike Polson, emphasizes the emergence of distinct career paths in New Law, separate from the traditional track. He suggests that large firms should focus on developing their technology personnel instead of trying to turn traditional lawyers into experts on everything. Polson highlights the potential for individuals to develop their careers in New Law, which offers opportunities beyond the traditional model.
Ashurst Advance has hubs in Krakow, Glasgow, and Brisbane, supporting Ashurst lawyers with their workloads. The firm's global presence and integration with Australian firm Blake Dawson contribute to its success.
Associates at Ashurst are given autonomy over pro bono work, and the firm has a strong culture of pro bono engagement. The firm also offers a full-service advisory approach, combining project finance and public finance work, and provides stimulating and rewarding experiences for summer associates.
In conclusion, Ashurst's NewLaw division presents a distinct career path, leveraging technology and innovative solutions to support the firm's legal teams and enhance efficiency. The firm's global presence, strong financial performance, and commitment to pro bono work contribute to its reputation as a leading global law firm.
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Big Law's economic uncertainty
Big Law attorneys face economic uncertainty and career instability. While some firms thrive, others merge or close down, which was unimaginable in previous decades. Clients want them to reduce costs, while firms demand increased billables. Big Law attorneys are under constant pressure to perform, with their success measured by compensation. This pressure extends to equity partners, who must deliver around the clock.
Big Law firms have broader portfolios than the transactional and litigation work of the past. They are characterised by their large size, significant revenue, and numerous offices. More than half of the leading firms are now based outside of New York, such as in Houston, Seattle, and Denver. These firms have become powerhouses by serving industries central to their regions but overlooked by Wall Street firms. For instance, Texas' Big Law firms have expertise in energy law and ties to the oil and gas community, making them leaders in alternative energy.
To adapt to economic uncertainty, Big Law firms should emulate Ashurst's approach to New Law. Ashurst Advance, their NewLaw division, delivers innovative and technology-enabled legal services worldwide. They combine cost-effective resourcing, technology, process design, and project management to improve delivery and drive efficiency. Ashurst Advance supports legal teams with process optimisation, resourcing, and technology solutions.
By investing in digital tools and process design methodologies, Ashurst ensures quality and efficiency in their services. They also offer Ashurst Reach, which provides access to a network of experienced contract lawyers and paralegals for short- to medium-term requirements. Through their NewLaw expertise, they deliver end-to-end solutions addressing complex business challenges, including legal, risk, and compliance issues.
To summarise, Big Law faces economic uncertainty, with pressure to reduce costs and increase billables. To address this, they can draw from Ashurst's New Law model, which leverages technology, innovative solutions, and efficient resourcing to enhance service delivery and address complex challenges.
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Big Law's client expectations
Big Law clients expect their firms to be at the top of their practice, with elite lawyers working on significant cases. Clients want reduced costs and increased billables, and they often measure success in terms of compensation. Clients also expect their firms to be able to handle specialised transactional matters or complicated litigation.
Big Law firms have broader portfolios than in the past, and they are spread across a more significant geographic range. This means that clients can expect their firms to have expertise in a variety of areas, such as energy law in Texas, and to be able to work with global markets and top-tier clients.
With the rise of New Law, clients may also begin to expect more from Big Law firms in terms of technology and innovation. New Law firms offer legal services that are enabled by technology, and they provide tailored solutions to complex legal challenges. Big Law firms may need to develop their technology personnel to keep up with these expectations and remain competitive.
Additionally, Big Law clients may expect a certain level of pro bono work from their firms, as it is becoming an increasingly important part of the legal industry. Associates at Ashurst, for example, are given a lot of autonomy over pro bono work, and they are encouraged to take on as much as they want. This includes refugee and asylum casework, domestic violence matters, and opportunities to help the homeless.
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New Law's tailored solutions
Ashurst Advance is the NewLaw division of Ashurst, a global law firm. Ashurst Advance delivers innovative and technology-enabled legal services to clients worldwide. By investing in digital tools and process design methodologies, Ashurst Advance strives to provide efficient and tailored solutions to complex legal challenges.
The division comprises a global team of experts in delivery, managed services, digital, legal operations, and flexible resourcing. This team works seamlessly with Ashurst's legal advisory and risk consulting teams to provide fully integrated and tailored solutions. Ashurst Advance's experience in legal, consulting, and delivery enables them to operationalise their legal advice and deliver innovation and value.
Ashurst Advance helps clients with their legal operations and transformation agendas. Through Ashurst Reach, clients can access a network of highly experienced contract lawyers and paralegals for short- to medium-term requirements. By leveraging their legal, risk consulting, and NewLaw expertise, Ashurst Advance provides end-to-end solutions targeting complex business challenges, spanning legal, risk, and compliance.
In addition to their legal expertise, Ashurst Advance uses cost-effective and flexible resourcing, technology, process design, and project management to drive efficiencies and improve delivery for complex, high-volume, or resource-intensive work. They aim to streamline legal processes, optimise the delivery of legal services, drive engagement, and build products that meet the challenges of a rapidly changing legal and regulatory landscape.
The head of Ashurst Advance Delivery, Mike Polson, recognises the increasing role of New Law in legal services. He suggests that large firms should focus on developing their technology personnel instead of trying to turn traditional lawyers into experts in emerging fields. By embracing New Law, firms can offer distinct career paths and provide clarity to employees about their future roles.
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Frequently asked questions
Big Law refers to the largest law firms in the nation, typically defined by the number of lawyers, revenue size, and number of offices. These firms are at the top of their practice and work with large companies on specialised transactional matters or complicated litigation.
New Law refers to the delivery of legal services through technology-enabled means. It offers a different career path for those in the legal profession, distinct from the traditional track. New Law roles include eDiscovery specialists and project managers, who work alongside traditional lawyers.
Ashurst's New Law division, Ashurst Advance, leverages technology and process design to drive efficiency and improve the delivery of complex, high-volume work. Big Law firms can learn from this approach to streamline their legal processes, optimise the delivery of services, and build products that meet the challenges of a rapidly changing legal landscape. Additionally, Ashurst's New Law team works seamlessly with their legal advisory and risk consulting teams to provide fully integrated solutions, demonstrating the importance of collaboration between traditional lawyers and New Law specialists.
