In my most recent post, I explained how the pandemic is shining a light on a key differentiator of our firm–geographic arbitrage. The big winners of geographic arbitrage are corporate general counsel, who get access to highly credentialed and experienced lawyers at a bottom-line-friendly price, and the talented law firm attorney who is looking for more buying power in a smaller community while enjoying the lower-stress and higher quality of life that the community has to offer.
Two weeks ago my colleague and firm-founder, Mike Hilgers, published a blog post about geographic arbitrage in the legal services industry. As that post explains, geo-arbitrage is when a business strategically locates its offices and operations in cities with more affordable real estate and lower costs of doing business. Since geo-arbitrage has a lot to do with why I now live and practice in Lincoln, Nebraska, I want to give you one associate’s perspective on the virtues and advantages of this innovative business model.
A sea change is occurring in the world of legal services, driven by technological innovation and accelerated by the scourge of the COVID-19 pandemic.