A history of the legal profession from the last quarter of the Twentieth century through today, with a view of what lies ahead.

1. The Future of the Law Firm in the Twenty-first Century Kowalski &Associates

2. Our Inspiration Kowalski & Associates

3. 20th Century Growth Kowalski & Associates

4. The Last Quarter of the 20th Century 8% annual growth compounded 87% of US firms had branch offices 23 law firms had more than 1,000 lawyers 100 law firms had PPP over $1,000,000 Kowalski&Associates

5. The Bubble Bursts Kowalski & Associates

6. Fallout Legal sector loses more than 35,000 jobs More than 10,000 lawyers displaced Vast reductions in legal spend Kowalski & Associates

7. New Billing Models Alternative fee arrangements proliferate Specialty boutiques Commoditization Reduction in premium work Kowalski & Associates

9. More players looking for slicesKowalski & Associates

10. Alternative Fee Arrangements Fixed Fees Portfolio Pricing Contingency Reduced Hourly + Premium on successful conclusion Convergence Kowalski & Associates

11. New Law Firm Models Reduced headcounts Reduction in partnership opportunities Increased globalization Three tier associate ranks The pyramid is disappearing Kowalski & Associates

12. Competition Law Firms competing with corporate law departments Law firms competing with LPO’s “Make” or “buy” decisions The battle for the legal spend Kowalski & Associates

13. Competition Mid-size firms Specialty boutiques Staffing companies LPO’s Kowalski & Associates

14. Competition Outsourcing Down sourcing In sourcing The battle for the litigation spend Kowalski & Associates

15. The Future Kowalski & Associates

16. Capital Kowalski & Associates

17. The future Increased Competition Downsourcing, in sourcing, outsourcing Technology Make or buy decisions at every step of the way Kowalski & Associates

18. The Future - Competition General counsel Outside BigLaw Midsize law firms LPO’s Staffing companies Virtual law firms Specialty boutiques Kowalski & Associates

19. New Billing Models Project based Piece Work Capitation Hourly Subcontracting – directed or counsel selected Kowalski & Associates

20. The Law Firm as General Contractor Kowalski & Associates © Copyright, Jerome Kowalski, June 2011. All Rights Reserved