Will Virtual Law Firms be the Next Big Thing?
Overview
Due to social-distancing measures put in place to address the spread of the novel coronavirus, many lawyers and staff have found themselves working from home. While most aren't running virtual law firms in the strictest sense, many are now likely wondering about the benefits of not having a traditional brick-and-mortar office.
Does that mean we'll see the legal industry shift en masse to a virtual model? The answer is not black and white.
First, some semantics. It's important to understand the difference between a virtual firm and one that just provides some services, like a client portal, over the internet. A true virtual firm, as the term has come to be used, has no fixed brick-and-mortar space. All services are provided by attorneys and staff working remotely. It relies entirely on cloud-based software to accomplish law firm administration functions, from client intake and conflicts checks, to billing and collections.
Contrast this with firms that still have a physical office presence, and use software or outsourcing to handle some, but not all, of their processes. That's not a virtual firm.