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Kenneth A. GradyLean Law Evangelist, Seyfarth Shaw LLPAdjunct Professor, MSU College of Law
@LeanLawStrategywww.SeytLines.comwww.linkedin.com/in/kennethgrady
The Evolution of the Practice of Law
2
$0 $25 $50 $75 $100 $125 $150 $175 $200 $225 $250 $275
Individuals Small PrivateBusinesses
Large PrivateBusinesses
Publicly Held but
not Fortune
500
Fortune500
323 million 6 million 33,000 6,500 500
US Legal Market Segmentation
Sources: William D. Henderson; The American Lawyer
About 40,000 clients account for roughly $137.5 billion in legal fees. AmLaw 100 firms capture about $81 billion.
3Source: Lawyer Metrics
Percentage of NLJ 250 lawyers with the title Associate or Partner.
Law Firm Re-leveraging
Source: Lawyer Metrics
NLJ 250 law firms.
Lawyer Stratification
4
1 23 4 5
6 7
8
11
9 10
12
1314
16
18
1715
5
2015 Legal Market Outlook
Relative Rates
Gro
wth
Pro
spect
s
PremiumRoutine
Source: BTI Consulting Group
1 Real Estate2 Environmental3 Employment4 Corporate5 IP6 Tax7 Investigations8 Regulatory9 Bankruptcy10 Restructuring11 Media & Technology12 Litigation13 Securities14 M&A15 IP Litigation16 Cybersecurity & Data Privacy17 Class Actions18 Bet-the-Company Litigation
Hig
her
Negati
ve
OPPORTUNISTIC PRACTICES
PRIORITY PRACTICESTACTICAL PRACTICES
CORNERSTONE PRACTICES
6
2010 2011 2012 2013 2014
672
12591436
1344 1376
Partner Lateral Movement
Source: Kinney Recruiting
Litigation, Government Practice, Healthcare
Bank finance, Environmental Law
Chicago, Los Angeles, Washington D.C.
San Francisco, Dallas, Atlanta
“More than 75 percent of the largest U.S. law firms have hired 10 or more lateral partners over the last five years.”
7
Service Provider Concentration
Source: LexisNexis Enterprise Legal Management 2014 Mid-Year Report
54% of companies in the data pool have 10 firms or fewer accounting for at least 80% of outside counsel fees
AmLaw 200 Firms Categorization
6STRAGGLER
S
164AVERAGE JOES
24PREMIUM
6MEGA-FIRMS
Source: The American Lawyer; Seyfarth Shaw LLP 8
Ken Grady has been recognized by the Financial Times for “chang[ing] the rules of engagement with external advisors.” He is Lean Law Evangelist for Seyfarth Shaw LLP, an Adjunct Professor at Michigan State University College of Law, and the former CEO of SeyfarthLean Consulting, LLC. As CEO of SeyfarthLean Consulting he helped clients better understand how technological, social and business forces are creating disruption in traditional service industries and worked with them to develop and implement solutions to take advantage of untapped opportunities. He was named to the Fastcase 50 which “recognizes 50 of the smartest, most courageous innovators, techies, visionaries, and leaders in the law.”
As a general counsel and senior executive, Mr. Grady guided corporations through growth spurts, turnarounds, and transformational development. He has two decades of experience leading corporate lean innovation and transformation, and 35 years of experience in the legal industry including being a partner in an AmLaw 30 law firm. He received his lean training in Japan where his sensei was a pioneer of the Toyota Production System and member of the original Toyota Autonomous Study Group.
Mr. Grady has delivered keynote presentations to corporations, associations, and professional organizations worldwide. He is acknowledged for tailoring his keynote presentations to each individual audience as he addresses relevant trends and offers practical guidance for turning opportunities into competitive advantages. He also leads workshops and seminars for organizations of all types, and has taught classes at leading universities. He is a well-known blogger on the topics of innovation, change and simplification.
Mr. Grady has been quoted or profiled in many publications, including The Wall Street Journal, Crain's, Financial Times, The American Lawyer, and Corporate Counsel. He is a former Director on the Board of the Association of Corporate Counsel, and was a member of its Advocacy and Value Challenge Committees.
@LeanLawStrategy www.SeytLines.com
www.linkedin.com/in/kennethgrady SlideShare: http://www.slideshare.net/KennethGradyLinkedIn:
Kenneth A. GradyLean Law Evangelist
Seyfarth Shaw LLP131 S. Dearborn StreetChicago, Illinois 60603
9
