09:00 AM US CENTRAL

Chairpersons Welcome Remarks

Mark Medice

Principal

LawVision 

9:15 AM US CENTRAL / KEYNOTE

Mid-Year Review: Assessing the Health of the Legal Industry 

Where are we today, mid-year 2023? Have strategic priorities changed? Observations around economics, change, risk and disruption within the industry 

Multiple challenges have emerged that threaten law firm profitability in 2023—falling demand, rising expenses, shifting client preferences and expectations, and a looming threat of wider economic turmoil and uncertainty to name a few.  As we observe general demand for legal services flattening (or even contracting) and profits-per-equity partner (PPEP) moving downward for the first time since 2009, law firm leaders and heads of key firm functions must take stock of their strategic priorities.

With half of 2023 now behind us, this opening discussion will pose the question to all in attendance, where are we today, mid-year ‘23?  What are today’s most pressing and important factors relative to your firm’s financial success and future strategic goals?  Join us as we shine a light on key observations and data that point to change within the legal industry – and how today’s economic landscape impacts your firm’s strategic priorities.   

Patrick Fuller 

Vice President & General Manager 

ALM Intelligence 

Mark Medice 

Principal 

LawVision 

10:15 AM US CENTRAL / PANEL DISCUSSION

Tech, Talent, Automation and the Speed of Change: How Fast Are We Really Moving? 

Exploring the implications of AI and emerging technologies on law firm business models, talent requirements, and pricing structures

The exponential maturity of AI tools (LLMs, generative AI, ChatGPT) has seemingly sparked a significant paradigm shift in the legal landscape with respect to productivity, efficiency and quality—with the potential to completely transform the practice and business of law through automation. Will economic factors combined with emerging tech (Generative AI) force wholesale shifts and change to law firm business models – sooner or later than we think?  As law firm leaders, where are you willing to place your bets? 

This dynamic discussion will consider how AI-powered tools – given their potential as a force multiplier in law practice – may impact and change law firm business models, requisite talent – and even pricing structures.  Looking over the wall-of-hype and assessing the current reality, we will debate, discuss and explore – 

• How firms are using these tools today – and how they might be using them in 12-18 months? 
• How will AI and emerging tech impact requisite skillsets within law firms?  What types of legal work will be impacted first? And is it inevitable that law firms will soon employ Prompt Engineers or Generative AI Productivity Specialists? 
• How might emerging tech impact or change the way law firms monetize their services? 
• Will we experience new pricing pressures through efficiency gains, as clients expect to pay less for services that are automated (or partially automated)? 
• Could our unit of measure (around value) be changing - from hours to…? 
• How might we consider implications and ripple effects on pricing/profitability?

MODERATOR

Mark Medice  

Principal 

LawVision 

PANEL

Wendy Butler Curtis 

Chief Innovation Officer 

Orrick Herrington & Sutcliffe LLP 

Gabriel H. Teninbaum 
Assistant Dean of Innovation, Strategic Initiatives, & Distance Education
& Professor of Legal Writing 
Suffolk University Law School 

Josh Kubicki 

Director & Professor, Legal Business Design Hub & Entrepreneurship Program 

University of Richmond School of Law 

Co-founder & Business Designer 

Bold Duck Studio 

11:30 AM US CENTRAL / PANEL DISCUSSION

Strategic Pricing in Times of Disruption and Volatility: A Reflection of Market Position 

Addressing rate resistance and gaining client buy-in to your firm’s pricing strategy - supporting your strategic execution and building momentum for greater profitability 

Pricing is one of the strongest drivers of law firm profitability but needs greater focus in times of uncertainty. Pricing is often misconstrued as a financial exercise when it is much more about the strategic positioning, execution, and culture of the firm. Join this panel to discuss pricing change strategies, addressing rate resistance and gaining client buy-in to your firm’s pricing strategy. This lively discussion will share best practices and supporting data to create pricing change for your firm, supporting your strategic execution and building momentum for greater profitability. 

MODERATOR 

Mark Medice  

Principal 

LawVision 

PANEL

Linda Novosel 

Chief Innovation & Value Officer 

Blank Rome LLP 

Madhav Srinivasan 

Chief Financial Officer 

Hunton Andrews Kurth LLP 

Purvi Sanghvi 

Director of Strategic Pricing 

Paul Hastings  

1:00 PM US CENTRAL / Interactive Discussion

Law Firm Partner Compensation and Strategic Alignment 

Navigating Compensation Trends In 2023: Assessing Partner compensation systems/structures in today’s dynamic legal market and aligning with strategic priorities

Per the old axiom in the law firm world - If your firm's compensation system is not aligned with firm strategy, then your compensation system is your strategy. In this highly interactive session (with much real-time polling throughout), we will delve into the typical evolutionary path of partner compensation systems, key considerations before making any changes, the alignment between specific strategic goals and remuneration, and the application of “best practices” from other industries with our law firm environment. Topics for discussion and interactive debate include: 

• The spectrum of structural options for Partner compensation systems 
• Key considerations when contemplating any structural changes to a Partner compensation system, including the unintended consequences 
• Creating a scorecard for the ongoing evaluation of a compensation system in relation to strategic goals 
• Promoting teamwork – a universal strategic goal - from a reward system that is highly focused on the individual 
• Retaining rising young stars who, via generationally predisposed thinking, have serious problems with highly subjective systems 
• Managing expectations and exceptional performance, with compensation being the primary – and often sole – point of connection and feedback 
• The applicability, or lack thereof, of the great thinking from other industries to the law firm world 

Michael D. Short 

Co-Founding Principal 

LawVision 

2:30 PM US CENTRAL / Panel Discussion

Pulling it All Together: Growth Strategies that Link Economic Performance and Strategic Success in Challenging Economic Times 

Can law firms successfully drive strategic growth and success without paying close attention to business performance on every level? Or, to put it a bit differently, what is the linkage between managing performance and strategic success? This dynamic closing discussion will address: 

• Growth strategy in current context 
• Aggressive growth or hold the base? 
• M&A Expansion (pros/cons) 
• Lateral growth and talent strategy? Can lateral hiring alone fuel growth? What is required to make this work? 
• Does strong performance accelerate growth? 
• What does “Strong Performance” mean anyway? Thinking about performance based on your target positioning. 
• Capitalizing on opportunities 
• Creating buy-in with your partnership 
• Accelerating investments that support your growth strategy 
• Capital and Growth Strategy: Are less well capitalized firms constrained in their growth efforts? 
• How can firms best balance economic and cultural performance to optimize your firm’s attractiveness to talent? 

MODERATOR

Joseph B. Altonji  

Co-Founding Principal 

LawVision  

PANEL

Joseph J. Morford 

Managing Partner 

Tucker Ellis LLP 

Brie Leung 

Chief Strategy Officer 

Much Shelist, P.C.   

Angie Sebastian

Business Advisor & Leadership Coach 

Sebastian Strategies 

3:30 PM US CENTRAL

Chairpersons Closing Remarks

Mark Medice

Principal

LawVision