Legal Innovation Spotlight 61 - The Business of Law: Bridging the Gap Between Practice and Profit with Keith Maziarek
Mar 26, 2025
In this enlightening conversation, Keith Maziarek, Director of Pricing and Legal Project Management at Katten Muchin Rosenman LLP, dives into the evolving business of law. He discusses the impact of the Big Four on traditional legal practices and the pressing need for law firms to adapt their financial strategies. Keith also emphasizes the struggle between risk and innovation, urging legal professionals to embrace technology. With insights into alternative fee arrangements and the significance of effective client communication, this dialogue showcases the future of legal services in a competitive marketplace.
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Lawyers as Business People
- Ted Theodoropoulos questions lawyers' business acumen, citing experiences with commercial leases.
- He emphasizes the disconnect between legal and business perspectives.
Accidental Entry into Legal
- Keith Maziarek entered legal by accident after 9-11.
- He transitioned from an interactive marketing agency to the American Bar Association.
Business of Law vs. Practice of Law
- The practice of law and the business of law are intertwined.
- Ignoring this harms the legal industry.