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Law Squared’s 2018 End-of-Year Wrap Up

Technology, automation and artificial intelligence (AI) seeks to cut out the very work that professional service advisors do.

By Law Squared

What a year! Law Squared continues to lead the way in challenging the traditional law firm model and creating an environment in which our community of staff, clients, partners and industry can thrive, find inspiration and seek guidance.

Almost 3 years since it was established, Law Squared has grown from one to 20 team members, with three offices in Melbourne, Sydney and Brisbane and 4 key practice areas: Commercial, Corporate, Litigation and most recently Employment/Workplace Relations.

Better Client Engagement, Better Outcomes

Law Squared’s mission is to change the conversation between lawyers and clients and to put clients at the centre of each engagement. Traditionally lawyers have a less-than-perfect reputation of being expensive, inefficient and bad communicators.

Law Squared is actively working to change this.

By implementing value-based billing and a membership/retainer model as two alternatives to the traditional time-based billing model, Law Squared has been able to provide cost-certainty and transparency to its clients. Through this model we have built stronger relationships with our clients who see Law Squared as their trusted advisers and an integral part of their team. This ethos, along with the implementation of an advisory board, has seen Law Squared named in the AFR Top 100 Fast Starters for 2018.  This is testament to the successful outcomes and positive business growth the firm has seen.

One Team, One Dream

As one of only a handful of law firms that does not measure its legal team on individual budgets or implement any form of time recording as a metric of output, Law Squared has established itself in the legal industry as a leader in new work practices. The firm promotes a flexible, paperless and trust-based workplace, enabling the team to work flexibly from any of its offices or while travelling. We avidly promote work-life balance and encourage our lawyers to be well-rounded not only in their legal skills, but in business development and technology practices.

Law Squared champions flexible work practices, allowing work to be done from the office or remotely. Team members have the freedom to work around children, family and other commitments. Law Squared also practices a value-based billing model and has removed financial budgets for lawyers. This has allowed the firm to create a better working environment for its lawyers.

The firm is also a leader in dismantling the traditional hierarchical model and focus on balancing client outcomes with lawyer’s goals and ambitions. We don’t subscribe to the “junior” and “senior” mentality here! As a result, Law Squared has avoided the traditional combative and competitive model of law firms as they each strive to achieve their daily budgets and billable units to climb the ranks of the partnership ladder.

Law Squared Advisory Board

In early 2018 Law Squared committed to developing and following a clear plan for growth and success and as an accountability measure implemented an Advisory Board. The Board comprises of 5 prominent businesswomen and men from both legal and non-legal backgrounds. Implementing an Advisory Board has assisted the firm in applying strategic vision and leveraging leadership of some prominent members of the legal and corporate community to drive positive outcomes and success for the firm. The Advisory Board meets every two months to push the firm agenda and challenge the growth, strategy and culture being implemented.

Cubed by Law Squared – Legal Product for Humans, by Humans

This year Law Squared launched Cubed by Law Squared, its first technology product. It is an easy-to-use service backed by cutting-edge technology, designed to empower startups (early stages businesses) to better protect their businesses and provide them with customised legal documents built by lawyers.

With over 30 legal documents and multimedia content Cubed by Law Squared is specifically designed to make managing legal matters easy for startups. We wanted to ensure that legal essentials for startups and entrepreneurs are accessible so they can thrive now and in the future.

At a fraction of the cost of traditional legal services, supported by a lawyer end-to-end and built by one of Australia’s leading NewLaw firms, Cubed by Law Squared is not another online legal template provider - it merges legal tech with a human lawyer to provide expertise in a time and cost-effective way.

Innovation as a Core Value

Innovation is one of Law Squared’s core values.  We value the need to constantly change, adopt and implement new ways of thinking and working in order to be more efficient and add value to our clients. As a leader in the NewLaw space our team are strongly encouraged to push the boundaries of legal design, disruptive technologies and ways of working.

One example in which Law Squared promoted innovation in 2018 was by participating in the Disrupting Law Hackathon, where we mentored the winning team (two years in a row!).  Our team has also continued to support other hackathons and similar initiatives as an opportunity to find innovative and novel ways to provide legal services and access to justice.

Active Part of the Community

Giving back, adding value and sharing our knowledge with the early stage business ecosystem is a core component of our firm’s approach. As a NewLaw firm that is working predominantly in the entrepreneur and high-growth business space, Law Squared identifies the particular need for legal education among businesses and startups. Over the last 12 months our firm and team have delivered over 200 free one-on-one sessions with startup founding teams, over 30 workshops and presentations, and 4 flagship events based around educating the startup ecosystem.

Beyond this, our firm partnered with a well-regarded philanthropic strategy organisation to run a series of workshops and seminars for the not-for-profit sector. The workshops were themed around "Innovation in Funding" and were aimed to assist not-for-profit organisations in their strategy and approach to obtaining funding. The three workshops were fully booked and were extremely well-received.

Law Squared will continue to grow in 2019!

Catherine Brooks and Andrew Brooks are joining the team to lead our new Employment/Workplace Relations division.

WE COULDN’T DO THIS WITHOUT YOU!

This year has truly been a positive and transformational year for Law Squared. Thank you to all our clients, community and friends for an amazing year - we are grateful for the support that each of you have given us along the way.

See you in 2019!


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