There’s a new legal business model on the block, with more than 800 lawyers now working at “virtual law firms”, according to figures collected by Hazlewoods accountancy firm.
A “virtual law firm” is a decentralised legal practice where lawyers work remotely and use shared services provided by a central hub for functions such as compliance, accounting and administration. The trend has been driven by several factors, including improved technology, the rise of the “gig economy” in other sectors, and desire for a better life-work balance.
Large firms have also tapped into the trend. Vario by Pinsent Masons, for example, is a group of freelance legal professionals that operates with the support of Pinsent Masons and can scramble quickly to provide in-house support on commercial and disputes work. Similar schemes have been set up by Eversheds (Agile) and Berwin Leighton Paisner (Lawyers on Demand).
Jon Cartwright, partner in Hazelwoods’ legal team, said: “The growing population of ‘virtual lawyers’ reflects the changing landscape of legal services as technology renders distance obsolete.
“Lawyers who may have previously set up their own firms are now realising the major cost and time savings of practising remotely. In their ideal scenario, ‘virtual’ lawyers can make more money in fewer hours whilst working at times that suit them.
“The decentralised nature of ‘virtual’ firms means they can also charge lower fees should they so choose and this is widening access to legal services at a time when clients may be more price conscious. The emergence of the ‘virtual’ firm is part of an ongoing diversification of legal services and traditional firms are starting to follow suit through launching their own online platforms.”
