Was wondering whether anyone had any points regarding the changing legal landscape? What are the main things that are changing in the legal landscape? I am trying to think of stuff aside from technology because I know that that tends to be something most people turn to initially
1. Tech & innovation
2. Types of work. They will be mostly coming from restructuring, litigation & PE (other departments might be quieter); and a boom in both the tech and healthcare sectors
3. Emphasis on employees' mental health // productivity
4. Remote working & the future of the office sector in the City (is it worth paying those rents for a swimming pool that nobody is in?)
I've answered something similar; excuse the brevity due to the word limit.
Provide one or two commercial impacts of COVID-19 on the UK legal profession in 2020/2021 with an explanation of the impact(s)?
Lockdown restriction has exacerbated consumers’ habits from brick and mortar to digital commerce. Consequently, one of the big commercial impacts of COVID-19 is the continued rise of e-commerce. A new normal means that e-commerce is likely to have a big share of the economy.
First, transactions on e-commerce will bring about opportunities for the FinTech department in various City law firms. Most e-commerce activities are conducted either through mobile phones or web-based purchasing. Any fast-growing companies must strive to improve their payments services to achieve the goal of frictionless trade.
Second, retailers retain their customers on e-commerce through personalising web content, offers and promotions. Consequently, the emphasis on data privacy will have an impact on the focus of legal advice due to the associated reputational damages that could give rise to.
With this trend, it also means that a lot of the legal work from the retail industry has turned into restructuring and insolvency. Given the UK is entering into a recession, the following year will be characterised by insolvencies, even with a V-shape recovery. The new normal of social distancing that transformed our shopping habits define the types of work the legal profession will handle in the next year.