SeedJura: Decoding Law

Author: SeedJura

Ever felt that hiring and managing lawyers is such a pain? You are not alone. In fact, the most well-kept secret for one of the key ingredients of the success of a company is -- its ability to engage and manage legal services. This podcast decodes the complexity of the legal world so that you, as a business owner, know how to use law and legal services to your advantage. Our legal world has become so complex and, in some way, out-of-touch and out-of-date that it is painful for both clients and lawyers in the legal services process. It is time to decode the secrecy and complexity and talk with both sides as to how to make the process better for everyone. Decoding law is built on three main pillars: (1) helping companies and individuals in decoding the basic rules of the game that they live in, (2) decoding the secrets of how to hire and manage legal services, and (3) helping lawyers to understand how to provide legal services that clients actually need both in todays world and in the future. The most unique aspect of SeedJura: Decoding Law is that we take a topic and explore it with companies/clients one week and then with lawyers the following week. A new topic is introduced every other week in a fun and lighthearted approach. This podcast is hosted by two passionate business lawyers who know the ins and outs of law firms of different types and the challenges both clients and lawyers face in legal services. Come and join us at SeedJura: Decoding Law.
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Language: en

Genres: Business, Investing, Management

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15. For Clients & Lawyers: Economic Downturn and Legal Services
Episode 15
Monday, 15 May, 2023

In this special episode directed at both lawyers and their clients, Geneve and Phyllis discuss how an economic downturn can impact the legal industry and share their suggestions for clients and lawyers to prepare for it. Phyllis and Geneve offer these insights about the legal industry during an economic downturn: Expect potential changes in legal services during economic downturns: some clients might prioritize other expenses during a downturn, but others may become more creative and see opportunities to acquire assets. How clients can take advantage of the downturn: lawyers may be more open to flexible work, so clients can "shop around" for the best fit in terms of services and fees. Clients may also want a legal team that focuses on proactive strategy. How lawyers can take advantage of the downturn: lawyers should expand horizons, learn new topics, become more familiar with clients' businesses, be flexible with pricing, and have frank conversations with clients about fees. Tips for clients: evaluate lawyers differently, interview existing and potential lawyers, and involve lawyers in the creative structure of deals. Tips for lawyers: be flexible with time and fee structures, proactively meet with clients to discuss deal structure and fees during the downturn, and examine your business for efficiency. Stay positive during economic downturns: opportunities can arise from crises! Next Episode Coming in June! Please subscribe to SeedJura: Decoding Law on your favorite podcast player! Visit SeedJuraGroup.com SeedJura on LinkedIn (company/seedjura/)