College of Law to introduce Australia’s first Master of Legal Business degree

Dr George Beaton heads high-profile program board The College of Law (the College) has appointed a high-profile international program board to guide the introduction of a new legal business-focused Masters degree for professionals working in the legal services industry. The flagship will be the Master of Legal Business (MLB)1, a 12-subject degree that teaches the business skills professionals working in legal services need to take on senior management and leadership positions and to tackle the challenges of tomorrow’s business world.  The College is progressively launching the MLB with the first subjects to  commence early in 2019. These subjects can be […]

Australian junior lawyers feeling the impact of technological innovation

Efficiencies brought about by newly implemented technologies are reducing the volume of work required of junior lawyers, allowing more time for strategic work, which in turn is impacting the established workflow structure within firms, a new survey shows. To support this, the ‘shift in the value chain and profile of lawyers’ was identified by 33% of respondents as being the most noticeable impact of increased digitalisation and automation in their organisation to date, followed by 25% of respondents selecting ‘employment decrease’ as the most prevalent impact. The survey was completed by 264 Australian legal professionals across a range of organisation […]

Law company gets access to US$500 million for expansion

Updated 23 Sept 2018: UnitedLex CEO Daniel Reed said the transaction will give his company access to [US]$500 million in debt and equity that he will use to invest in the company’s technology, target businesses for acquisition and to invest alongside the clients it serves. Originally announced as: ….. CVC will make a majority interest investment in UnitedLex, the pioneer of enterprise legal services for the world’s leading corporations, law firms, and universities. The transaction is subject to customary regulatory approvals. The UnitedLex senior leadership team has fully reinvested in the transaction to further the company’s mission to lead the […]

Adieu Legal wins 2018 ALPMA-LexisNexis Thought Leadership Awards

Adieu Legal has been named the winner of the 2018 ALPMA/LexisNexis Thought Leadership Awards, over finalists Mills Oakley, LegalVision and Lawyers On Demand. Adieu Legal’s winning project is a collaborative divorce platform, combining artificial intelligence with family law experts to create a ‘consensus accelerator’, reaching property and financial settlements in a fraction of the traditional time. Andrew Wight, CEO of Adieu Legal, is thrilled with the win, saying the consensus accelerator is an audacious project, particularly for the legal industry. “We’re aiming to completely change the way that humans resolve conflict. Our technology helps people to come to agreements that […]

Ashurst strengthens alternative legal services capability in APAC with global delivery centre launch in Brisbane

Official announcement International law firm Ashurst is set to expand its global business services and alternative legal services offering with the launch of a global delivery centre (‘GDC’) in Brisbane. Building on the success and growth of the firm’s Glasgow office, the GDC will allow the firm to deliver global business services from two time zones and will ensure the firm’s business services delivery model is globally integrated and consistent. The GDC will see an expansion of the Ashurst Advance team with the introduction of an Australia-based legal analyst team to deliver legal sourcing solutions on document intensive projects or […]

MinterEllison separates from the pack in a big year for BigLaw

IBISWorld recently published its annual list of Australia’s top 500 private companies. There were 13 law firms in the 2017/18 list. Their combined annual revenue was $4.167 billion. That’s an average of around $320 million revenue per firm. MinterEllison was the first law firm on the list as it had the largest revenue at $564 million, then King & Wood Mallesons and Allens, with revenues of $526.87m and $526.67m respectively. Clayton Utz had revenue of $501.7m. There was a big gap to the next law firm, Norton Rose ($346.9m) and the remainder were below $300m in annual revenue. It was […]

Silicon Valley to show the world how to do legal services

We first heard publicly from Justin Kan and his Atrium venture in July 2017 when we learned that he raised US$10.5 million to revolutionise legal services. There was little information shared publicly about how this money would be spent and exactly what products or services would be created. There was however, a lot of mentions about providing legal services to startups and fast-growing companies.  The picture is now becoming clearer about what this venture is about and it has also gained the financial support of the ‘who’s who’ of Silicon Valley venture capitalists.  Justin Kan announced, [10 Sept 2018] “Atrium has […]

Slater and Gordon Revenue Slips Behind Shine Lawyers

ASX listed Slater & Gordon reported Australian revenue for 2017/18 of $159 million. Shine Lawyers reported (Aus and NZ) revenue of $179 million. Slater & Gordon’s revenue is based on including only continuing operations, and on this basis it is down by 12.2% compared to the previous year.  When research company IBISWorld examined the personal injury market in May 2018, it estimated that the market share for personal injury work was Slater & Gordon 9%, Maurice Blackburn 9% and Shine Lawyers 6%. Interestingly, 79% market share is held by numerous small firms across the country, according to IBISWorld. IBISWord also […]

Profit busting with technology at Shine Lawyers

by Peter Frankl. An uneventful set of numbers Shine Lawyers’ financial performance in the 2017/18 year lacked the excitement and drama that we occasionally see in the publicly listed law firm sector.  On the whole, investors were ok with this lack of excitement. The ‘boring’ and stable journey through FY18 helped lift Shine’s share price by 26.4% over the past 12 months (from 29 August 2017 to 29 August 2018). However, the uneventful financial results were a bit too uneventful for some investors. On the day of their release (29/8/18) the share price fell 4.592% to 93.5 cents. Some investors might […]