LexisNexis | Butterworths | What We Stand For

The New Zealand legal landscape

In House Counsel sees significant growth from 2013 to 2014.

Source:NZ Law Society 2013 and 2014

The changing legal profession

The New Normal

Average Law firms billable time is 62%

Comparatively, the best law firms are 75% and for engineering firms - 90%
Increasing competition is helping to move the charging model from chargeable hours to value based project work.
Related, clients want more transparency of work and progress
Increasing is ‘insourcing’, where a larger amount of work is conducted in house and smaller law firms are taking on new practice areas with which they don’t have familiarity

1

Diverse Voices

46% of practitioners are women

Up 34% from 2000 but relatively flat from 2010
Since 1993, women have equaled or surpassed the number of men admitted.
Average age of lawyers is 40.2
- 36.7 for female
- 44.1 for male
Inhouse counsel - 58%
Law Firms – 46%
Barristers – 36%
Sole Practitioners 27%

2

The Next Generation

16,290 law students from 6 universities as well as the College of Law

There is continuing decline in the NZ student market largely resulting from the global financial crisis and increased global competition for students
Full time student enrolments were down 2.1% in 2012 with NZ law student enrolment 4.7%
New lawyers peaked in 2010 (905) but have since declined 14%

3

Connected Lives

90% of the legal market use mobile devices

50% of legal professional already using tablet devices and Bring Your Own Device (“BYOD”) policies on the rise
Acceptance of cloud computing is growing with 92% of US companies using cloud services
34% of lawyers used Linkedin for professional use
Increased focus on content in context as well as practical guidance and workflow solutions

4

Sources:

"The New Normal" and its implications, February 2013, Johnson – Leaders in leadership
NZ Law Society
Ministry of Education 2012
Google Glass Project. LexisNexis Global Trends Report 2011

Challenges our customers are facing

Law firms

Major shifts in legal landscape with rapidly changing competitive environment
New global entrants in the marketplace
Pressure to develop smarter, leaner operations
Opportunities in new and emerging practice areas, and Asia-Pacific expansion
Increased regulatory, development & compliance obligations (AML, FATCA, CPO)
Managing expectations of next generation of lawyers

In-House Counsel

Focus on cost efficiencies
Growing recognition of General Counsel in corporate environment
Increased focus on data privacy, regulatory and compliance issues
Gain efficiencies to deliver exceptional service quality to internal stakeholders

Government

Focus on cost efficiencies
Focus on streamlining workflows and making productivity gains
Early adopters of digital and mobile technologies
Streamline processes with automated systems

Academic

Decline in international enrolments due to increased global competition & Global Financial Crisis
Growth of integrated learning management systems in university & post-graduate education
Shift to online learning & flexible delivery of education
Meeting expectations of generation of tech-savvy learners by providing access to digital, mobile, interactive content

New Zealand’s economic outlook

30m sheep

10m cattle

4m people (but up 4% from NZ Census 2006*)

$160bn with expect growth of 3.5% in 2014

GDP growth is expected to be 3.5% in 2014 with businesses feeling more optimistic about both trading conditions and the economy. Construction, predominantly through Christchurch and Auckland growth, will continue to give the economy momentum along with Dairy and Meat trade. Tourism is a key New Zealand export earner, second only to dairy. The NZD is likely to remain strong throughout 2014 and into 2015.

(Source: ASM quarterly economic forecasts)

Our Marketplace