NewLaw firms, like Cognatio Law,
offer many advantages to their clients such as practical and time
sensitive business and risk management solutions at significant cost
savings. In addition, the NewLaw model also offers significant benefits
for lawyers, such as a flexible work schedule, which contributes to a
better work-life balance, and more freedom to choose your working hours
and clients. These advantages appeal to both men and women, helping to
balance the playing field in a traditionally male-dominated profession.
Under the NewLaw business model, gender discrimination issues have been
minimised. Clients simply just want the best person for the job.
In
particular, many female lawyers are turning to NewLaw practices due to
decreased promotion opportunities and the lack of work/life balance
within traditional private practice law firms. The ability to spend more
time with family/children is one of the main reasons many female
lawyers are citing for making the switch to NewLaw.
NewLaw
does not, however, solve the underlying gender inequality issues that
women face within the legal profession. It does, however, embrace fair
hiring practices and equal opportunities for both men and women. When it
comes to NewLaw assignments, female and male lawyers are presented with
the same opportunities. The best candidate for the project is the one
who is hired. Pay levels are typically based on PQE and/or the
specialist experience of the candidates.
Switching
to a NewLaw practice over a traditional law firm does, however, present
some challenges. Lawyers will in general experience an overall drop in
compensation of around 30% when making the switch from either a
permanent private practice or in-house lawyer position. In addition,
lawyers will need to be comfortable working in a consultant role and
thereby not be provided with any management or decision making
responsibilities. They will also still be expected to produce
high-quality work. Adaptability and flexibility are also essential
skills as a lawyer could be seconded to several companies during the
calendar year and will need to quickly adapt to each client’s working
cultures. The majority of NewLaw consultants agree though that the
benefits of a flexible work schedule and better work/life balance
outweigh the challenges listed above.
About us:
Cognatio Law is
headquartered in Hong Kong and headed up by an experienced management
team with a solid understanding of both local and regional business
needs as well as the related legal & regulatory requirements. We
have built up our regional professional networks over the last 20 years
and accordingly have a strong understanding of how to engage with and
service clients across Asia. Companies can make significant financial
and efficiency savings by engaging a NewLaw company over a traditional
law firm. If you would like to engage one of our highly-qualified
consultants or seek to join our team, please contact us today.
Connect with Cognatio Law
2310 Dominion Centre, 43-59 Queen's Road East Wanchai, Hong Kong
Website: https://www.cognatiolaw.com/
Facebook: https://www.facebook.com/CognatioLaw/
Twitter: https://twitter.com/CognatioLaw
Credit: Prosperity Research Digital Agency(PRDA): PRDA's Founder Douglas White developer of proven 5 step, 4 KPIs process of Social Media Marketing.
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