At Octagon Law Group, we understand that managing a law firm requires a different mindset as compared to practicing law. Lawyers are often too busy taking care of their clients’ needs to devote the time necessary to market their firm, hire personnel and, in general, make prudent financial decisions that are necessary to effectively run any business. In addition, lawyers are not trained in business affairs. Simply stated, lawyers are not schooled and as such equipped to manage major business enterprises such as law firms.
Octagon does not seek to help you practice law. All successful lawyers inherently are competent in that area. Moreover, there are many organizations that effectively assist lawyers when it comes to their professional roles. These organizations include law societies, law schools, bar associations, professional development programs and the like. In short, Octagon helps you with the business aspects that go along with the practice of law. In that, it allows you to do what you do best which is practice law.
The legal industry is going through a rapid pace of change. The existing partner/associate law firm model lacks the capacity to adapt to the market demand for higher quality legal services at a lower cost. The changing economic environment is one that demands a restructuring of the overall system under which legal services are delivered to the market.
In particular, clients (from small individual clients to large fortune 500 companies) are increasingly demanding better quality of legal services at competitive prices. Such demands cannot be met without restructuring the model under which legal services are provided.
Octagon is one of the first companies (if not the first) on a global scale to offer assistance in this area. In particular, Octagon assists law firms by focusing on their business needs without unduly interfering with the manner in which they practice law. Octagon's greatest asset are: industry leading business know-how, innovative business models, and its human resources, which consists of business people who have had actual practical experience in managing law firms.
Almost all law firm managers have been trained on the principle that there is no immediate need that ownership, management and practice of law be separated; in contrast, Octagon's executives and consultants have been trained and gained experience on the simple principle that when it comes to the management of law firms, there should be a strict division between the three spheres of ownership, management and the practice of law.
In addition to its business know-how and human resources, Octagon is a leader when it comes to leveraging new technology for the delivery of legal services.
With the ever-increasing pressure to drive costs lower, law firms must develop delivery models that ensure the highest quality of legal services at competitive prices. Whether it be delivering legal services in the form of a commodity or by incorporating Octagon’s back-office support into your service delivery model, your firm will benefit from a significant competitive advantage. Octagon empowers your firm to deliver superior quality services using the latest technology and volume discounts on services and products that are essential to the operations of a law firm.
Our services include:
Regardless of the level of engagement of Octagon services, your law firm maintains control over the delivery and execution of legal services. Octagon takes on the business aspects of the firm via its dedicated group of management, accounting and marketing professionals and technology and management solutions. In this model, Octagon serves as a facilitator - partner to offset execution risk helping law firms gain a competitive edge.
Octagon is also able to provide a selective aspect of this model such as providing solely marketing or accounting services.