The foundation of the legal industry is based on the doctrine of judicial precedent. Its rigidity provides consistency and fairness that allow the law to be evenly applied and not subject to wild oscillations based on the current political, economic or social climate. However, there is a difference between using the principle of stare decisis to develop a legal strategy for a client versus a business strategy for a law firm.

Precedent-Based Thinking

It’s easy to talk about moving ahead and assembling the resources to enjoy greater business success. But client demands, combined with the accelerating speed of technical innovation, have left little room to plan for future growth at the proper pace. The legal profession is no exception to this phenomenon.