In this episode, Kerbis interviews Colin Levy, Malbek’s in-house counsel, evangelist for legal tech and the author of "The Legal Tech Ecosystem." Levy, a corporate lawyer with over 12 years of experience, shares his insights on how technology is transforming the business and practice of law. He discusses his role as the general counsel for Malbek, a contract lifecycle management software company, and how their product helps legal departments manage contracts more efficiently.
The conversation delves into the challenges of billing time and the potential demise of the billable hour model. Levy acknowledges that while legal tech tools can increase productivity, the billable hour model remains resilient despite its flaws. He emphasizes the importance of value-based billing, where clients pay for the value of the work rather than the time spent. The discussion also touches on the role of legal education in preparing lawyers for a tech-enabled world and the potential for generative AI to enhance the legal profession.
Kerbis and Levy explore the future of the legal profession, including the rise of virtual law firms and the potential for solo practitioners to leverage technology to offer accessible legal services without the constraints of the billable hour model. They also discuss the impact of legal tech on law firms and the need for a generational shift in mindset to prioritize work-life balance and mental health. Overall, the episode highlights the ongoing transformation of the legal industry and the opportunities presented by emerging technologies.
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