Mourant has just launched a first in the offshore legal profession - you can go to their website (built by Webreality) and buy trust precedent documents.
This might seem an unremarkable development, but most lawyers remain very sniffy about even acknowledging that aspects of their work might become commoditised. Mourant operates in the rarified world of corporates and high net worth individuals. It's not unusual to find "high street" legal services available now online - wills, leases and even divorce documentation can be bought and downloaded in the UK. But in Mourant’s markets "consumer" approaches to service delivery are much slower to take hold. So hats off to Mourant for blazing a trail in the very specialised offshore trust market. I hope it pays them back handsomely.
From a content point of view, the story here is obvious. Lawyers trade in time and knowledge. Knowledge x time = content. Most law firms worldwide have yet to grasp that client expectations are changing, driven not least by the web's ability to deliver information, knowledge and answers quickly and 24/7. Lawyers who recognise that early in their markets, and deliver high value content how and when clients need it, will achieve big market share wins.
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