In the world of business law, ElevateNext is leading a new approach. We work closely with companies, aiming to not just give legal advice but to boost their earnings too.1 Our team has found a way to blend seamlessly with other parts of a business. We’ve become crucial partners in the journey of our clients’ growth.
At ElevateNext, we have a strong mix of lawyers: both experienced ones and juniors. We also have tech-savvy specialists on board. This allows us to provide efficient, tech-forward legal help that fits today’s business world.2 We offer a big range of services too. From handling contracts to guiding mergers, our aim is to make your legal work stronger, helping your business thrive.
Key Takeaways
- ElevateNext provides high-end, luxury legal advice to businesses
- Our team combines experienced lawyers, junior attorneys, and specialized professionals
- We offer a wide range of business law services tailored to modern enterprise needs
- Our approach repositions the legal team as a strategic partner for growth
- We leverage technology to deliver cost-effective and efficient legal solutions
Redefining the Legal Landscape
Embracing a Commercial-First Mindset
Today, law departments are changing. They work more like businesses now. The goal is to add value to the company and make money, not just offer legal advice.3 This change has made the legal team a key player. Now, they help the business grow instead of seeming like a block.
Repositioning Legal as a Strategic Asset
The job of the general counsel is different today. Now, they help shape how the business grows. This is more than just saying what the company can’t do.3 Seeing legal as a big part of the business is important. In today’s world, law departments are expected to make profits, just like other parts of the company.3
ElevateNext, a firm connected to Elevate, is leading the charge. They use a mix of skilled lawyers, young attorneys, and specialized professionals. They provide up-to-date legal services that meet today’s business needs, cost-effectively.4
| Legal Technology | Impact |
|---|---|
| Case management software | Streamlines legal practice, saving time and effort by organizing case files and managing client information efficiently.5 |
| Cloud-based systems | Allow access to case files and client information from anywhere, ensuring flexibility for legal professionals.5 |
| AI-driven legal research tools | Find relevant information, analyze patterns, predict outcomes, and suggest strategies, enhancing the efficiency of case preparation.5 |
| E-discovery software | Speeds up finding, collecting, and analyzing electronic data, saving time and cutting down costs compared to manual methods.5 |
| Brand intelligence platforms | Monitor online brand usage, helping protect a brand’s identity and intellectual property rights, preserving its integrity.5 |
| Contract management software | Automates contract handling processes, allowing for the customization and reuse of templates and standard clauses, saving time in drafting new contracts.5 |
Outperforming Expectations
In today’s legal world, top law departments do more than provide great legal advice. They also act like real business teams that help the company make money. They do this by using smart ways to offer legal services, making them more efficient and cheaper. This way, the cost of legal help doesn’t grow as fast as the company’s money6.
Bending the Legal Cost Curve
Law departments aim to help the business move faster and smoother in making deals. They do this by placing the business’s needs first and using new tech. This helps them cut down on the time it takes to do things, getting better results for their clients6.
Enabling Rapid Business Transactions
The “Second source” saw big savings by handling most simple agreements without needing legal’s direct help. They did this by updating how legal work is done to meet the business’s need for quick and efficient deals. Making these changes didn’t lower the quality or break any rules7.
Business Law Services
At ElevateNext, we know the ins and outs of business law. Our team is filled with legal pros ready to help. We offer top-notch services that are both thorough and pocket-friendly. This helps our clients wade through the twists and turns of the law.8
Corporate Law and Compliance
The team at ElevateNext is here to guide all businesses. We help everyone, from single owners to big companies in areas like manufacturing, finance, and more.8 We draw from our deep experiences to tackle various legal needs. From starting new ventures, making partnerships, to following the latest rules and laws.9
Contract Law and Drafting
Understanding contracts is key for all companies. That’s where our experts step in. We offer services like checking and making contracts to keep you safe.9 No matter if you’re doing business worldwide, attracting investors, or just trying to play it safe, we have your back.9
Mergers, Acquisitions, and Commercial Litigation
Merger, acquisitions, and lawsuits are more common than ever. Our seasoned team is well-equipped to handle them. We’ve managed big deals and legal fights for our clients successfully.8 For example, we’ve overseen major business sales like that of Electronic Data Processing Plc. We make sure our clients’ voices are heard and their goals are met during any legal battle.9
Our approach at ElevateNext is unique. We blend the wisdom of senior lawyers with the fresh ideas of young lawyers and experts. This mix lets us offer cheaper, up-to-date, and quicker legal solutions. We claim we can lower your legal costs by up to one-fifth while getting you better results.8
Robust Capabilities, Balanced Approach
At ElevateNext, we know it takes more than profits to run an effective law department. It’s crucial to balance legal and business needs with values and culture. Developing a range of “practice areas” beyond the traditional helps achieve this.10
Aligning Legal Expertise with Business Goals
We align our legal know-how with the company’s aims through three vital questions. We consider the importance of our skills to the business, define success, and list actions to boost performance. This approach tailors our services to meet client needs, offering top-notch services in various legal areas.10
Measuring Performance and Continuous Improvement
We’re all about getting better at ElevateNext. Regular checks and deep dives into performance metrics help us spot ways to improve. This way, we can always offer superior legal counsel and business law services. Our approach ensures we’re ready to meet the changing demands of the business world.
The Language of Business: Metrics and Analytics
Corporate law departments are shifting to a commercial-first mindset. They know it’s crucial to talk business talk and show their strategic worth.11 Now, about 90% of these departments track their performance with metrics, up from 75% in the last eight years.11
Using quality and performance metrics in law departments aids in finding strengths and areas to grow. These numbers also help external law firms succeed.11 Metrics cover how much work is done, success rates, times taken, fines, and money recovered. They also show if a legal team’s efforts positively affect business terms and risks.11
Capturing feedback, both inside and outside the department, is key. It helps in handling relationships well and boosting how the department is seen by others.11 A focused metrics program is crucial in increasing a department’s value and strategic role.11
12There’s a change happening in many legal departments. They’re moving towards using data for decisions.12 This change gives them a competitive edge and makes them more adaptable. Legal data leads to clearer, more objective decisions.12
12Legal departments are getting more into using legal data for choices. They’re using lots of data for this.12 To make the most of this data, cleaning and confirming its accuracy is key. A successful data strategy in law depends on choosing the right data, focusing on areas that matter, and testing new ideas.12 Setting clear goals and knowing what to expect from data use is essential for a data-centric approach.12
13In light of this, Elevate, PwC NewLaw Australia, NetApp, IsInspired, and LegalOps.com have come together. They worked on creating the LegalOps.com Legal Metrics Portal. This free online tool is for legal leaders to showcase their team’s value, share its achievements, and make smarter decisions.13
Revenue Generation Through Legal Activities
At ElevateNext, we see the legal department as more than just a cost. It’s an area where companies can make money. The usual idea is that law departments cost money. But, we’ve found ways for our clients to use their legal skills to add to the company’s earnings.
Affirmative Litigation and Cost Recovery
Our experienced legal team is skilled at taking on actions that reclaim money. They also earn money through wins in court.14 corporate law charges the most, with fees at $350 per hour in 2022. Bankruptcy and intellectual property law follow closely behind. This shows how focusing on key legal moves can make money.14 We partner with our clients to spot chances for such actions. This way, they make the most of their legal spending.
Outsourcing for Optimal ROI
We often suggest outsourcing tasks to our experts. This can boost how much money our clients’ legal work brings in.14 firms that use cloud technology were 11% more likely to be very profitable. The use of specialized legal payment tools jumped to 34% in 2022. These numbers show how smart tech use can increase legal income.14 Outsourcing cuts internal costs and helps monitor how well the investment pays off. It also makes it clear how the legal department directly helps the company’s money side.
With a focus on making money and utilizing our legal knowledge, we help clients grow. We show them how to boost their legal function’s worth and lift their overall business achievement.
Elevating Client Experience
At ElevateNext, we know offering top-notch client service is key in the competitive world of top legal help.15 We use new legal tech to make work smoother, connect better with clients, and give unmatched service to those in need.15
Personalized Service for VIP Clients
Our client service is designed just for the elite needs and wants of our rich clients.15 We know VIPs look for special care that surpasses standard legal help. We use custom tools like online forms and reminders to make sure every interaction with us is easy and quick.15
Understanding Affluent Lifestyles
By truly understanding what our rich clients want, we stand out with our service.15 Our team knows a lot about luxury living, so we can solve any issues before they pop up. This gives our high-net-worth clients a smooth and tailored service.16
We speed up signings with eSign tools and keep things safe with file-sharing tech.15 Keeping our clients in the loop helps build trust and confidence, key in the luxury legal market.16
At ElevateNext, giving great client service is our main strategy for success.16 We get what our rich clients need and we use the best tech to serve them personally. This makes clients happy, leaves us positive feedback, and builds long-lasting bonds.16
Innovative Marketing Strategies
At ElevateNext, we know marketing high-end legal services well takes a diverse approach. We look to the luxury real estate sector for ideas. We use new, smart strategies to interest our clients and stand out from competitors.
Virtual and Augmented Reality Tours
We’re using the latest tech to offer virtual and augmented reality tours.17 This lets potential clients see our offices like they’re really there. It helps them understand our high level of detail and sophistication, engaging them in a memorable way.
Exclusive Events and Strategic Partnerships
Along with virtual tours, we host special events and work with key partners. These aim at our valuable, high-net-worth clients.17 Our partnerships with top names in design and architecture elevate our brand. They offer our clients chances to connect with leaders and gain rare insights.
By merging these unique marketing methods with top-tier legal service, ElevateNext stands as the best choice for tech-focused, premium legal help.17
Conclusion
At ElevateNext, we’re excited to lead the way as the legal field changes. We bring deep legal knowledge, skilled professionals, and the latest tech to meet the distinct needs of today’s businesses.
We focus on putting your commercial goals first. By using facts and figures that make sense to your business, we’re able to add real value. We’re always looking to get better and find new ways to serve. This keeps us as the go-to choice for companies aiming for growth and victory.18
The world of law is undergoing big changes, and we’re right there at the edge. We’re making legal services more about empowering businesses in today’s tricky environment. With our top-tier work and fresh ideas, we’re sure we can lift up your business. We aim to see our clients succeed in the long run.19
FAQ
What is the key focus shift in the corporate legal landscape?
How does ElevateNext differentiate itself in the legal services market?
What are the key aspects of running a law department like a business?
What range of business law services does ElevateNext offer?
How does ElevateNext approach developing a balanced approach to running a law department?
How do law departments use metrics to demonstrate their value?
How can law departments generate revenue for the company?
How do personalized and elevated client experiences impact the delivery of high-end legal services?
What innovative marketing strategies can law firms use to elevate their offerings?
Source Links
- https://elevate.law/expertise/what-does-it-mean-to-run-legal-like-a-business/
- https://www.tegna.com/advertise/advertising-your-law-firm-6-steps
- https://www.linkedin.com/pulse/redefining-legal-practice-why-lawyers-should-continue-chris-johnsen-5nosc
- https://www.legalpracticeintelligence.com/blogs/technology-intelligence/legal-trends-developments-to-follow-in-2024
- https://theincmagazine.com/next-gen-law-business-5-tech-tools-redefining-efficiency-in-legal-practice/
- https://www.linkedin.com/pulse/surpassing-expectations-olga-v-mack-o6ujc
- https://www.answeringlegal.com/blog/three-ways-your-firm-can-outperform-expectations-with-a-legal-virtual-receptionist/
- https://www.irwinmitchell.com/business
- https://www.davidsonlawfirm.net/what-is-the-difference-between-a-corporate-lawyer-and-a-business-lawyer/
- https://caretlegal.com/blog/how-to-balance-workloads-across-litigation-and-corporate-teams-at-your-firm/
- https://www.thomsonreuters.com/en-us/posts/legal/legal-success-metrics-effectiveness/
- https://www2.deloitte.com/us/en/pages/technology-media-and-telecommunications/articles/what-is-a-data-driven-legal-department.html
- https://www.epiqglobal.com/en-us/resource-center/news/epiq-announces-two-new-capabilities-for-metrics
- https://www.clio.com/blog/average-law-firm-revenue/
- https://www.cosmolex.com/blog/five-ways-to-improve-the-client-experience-at-your-law-firm/
- https://lawyeriq.esquirebank.com/article/intake/4-ways-to-elevate-the-client-journey-for-law-firms/
- https://sites.utexas.edu/discovery/2023/12/06/10-innovative-marketing-strategies-for-your-law-firm
- https://www.sdcba.org/?pg=BusinessandCorporate201705
- https://academic.oup.com/book/2227/chapter/142305747