From Globalisation to Digitalisation and the Human Factor
Within this article Dr. Johannes Trost highlights a number of issues and concerns but also prospects and measures to adopt for boutique and mid-size law firms in the European legal market. With our focus at LEBUHN & PUCHTA on international maritime and shipping business, we are facing a transformation of the structural and business environment in which we operate. Find out more about our answers here:
Globalisation was the large structural change in the past decades and – contrary to many other businesses – we, as a locally based law firm with a strong international focus, a well established network and truly international clients in our core fields of activity – international shipping and transport – have very much benefitted from globalisation. Globalisation has been and is our success story. So let’s learn from this when it comes to current and future challenges:
Digitalisation, legal-tech and blockchain are the most common words used in connection with business challenges in 2017. In fact digitalisation has already affected and changed our clients’ businesses to a large extent and is also bringing change to the legal market. We are not only looking at non-contentious work but also at the core activities of litigation, dispute resolution and claims handling as digitalisation will spread into all areas of the legal profession.
Anticipating this development, we at LEBUHN & PUCHTA have set up a new unit for legal-tech applications and big data analytics to develop our own algorithmic tools and methods. We call this project Dispute Dynamics. This is a system of interdisciplinary analytical methods applied to complex legal issues, processes and litigation. For this purpose we use both non-legal factors, in particular sciences such as psychology, statistics and behaviourism as well as traditional legal analytics, systems and professional legal big data precedents and sources. Our aim is to improve the overall analysis and conduct of legal cases, enhance predictability and cost-saving to achieve the fastest, safest and most beneficial outcome for our clients.
But innovative products such as Dispute Dynamics are only one factor for success in the future. The human factor will remain critically important as well: Team spirit, high quality of personal work, individual know-how, open-mindedness, depth of perception and a feel for the best-suited course of action must be cultivated. These strengths and the ambition to develop continuously at every level within the firm characterise LEBUHN & PUCHTA and have done so ever since the firm was founded in 1950. This is also why we are instructed in high volume, complex, and internationally-set matters. LEBUHN & PUCHTA strives to express distinctive personal values and develop work-related innovations. First-class service to clients requires not only excellent qualifications, but also a work environment that gives our people the space to evolve both in and out of the workplace. General values such as sustainability and fairness are central to the firm. By applying these policies we are in a position to develop our ideas and projects for the benefit of our clients.
Dr. Johannes Trost, Partner, LEBUHN & PUCHTA