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by Vault Law Editors | July 28, 2009

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British knowledge management mavens Lee Bryant and Penny Edwards have published a report entitled Social Networking for the Legal Profession (h/t Paul Lippe).  The report is a bit pricy (£245*), but Edwards previews their findings in a series of posts on the Headshift blog.  In the first installment, she outlines the ‘challenging trends’in addition to the economic crisisfacing the legal profession.  Highlights:

-The implications of commoditization (‘price and quality are no longer the only differentiators or drivers of competitive advantage.’)  

-The rise of the knowledge economy and knowledge markets (‘what and who you know determines where and how far you go’)

-Technological advances (‘Unlike previous generations of technology, which essentially offered the opportunity of 'substitution innovation' (doing what had always been done a little better), new social technologies offer possibilities for radical change’)

-‘The expectation of younger lawyers is that they can have the same freedom, flexibility and power inside and beyond the firm as they can using social tools for their personal affairs.’

                                           -posted by brian

*At 159 pages, that’s roughly $2.50 per page. 

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