Sarah Ferguson, a shareholder in Parsons Behle & Latimer’s Reno office, recently participated in a Nevada legal industry roundtable hosted by Nevada State Bank and moderated by Connie Brennan, publisher and CEO of Nevada Business magazine.
The roundtable, consisting of Nevada lawyers and legal executives, discussed the evolving business model and changing landscape of law firms, including integration of artificial intelligence, talent retention, arbitration as an alternative to litigation, staffing and retaining a work-life balance. The industry-focused session provided valuable insights from legal industry leaders, who play a significant role in shaping business in Nevada.
Nevada’s legal industry is facing challenges as the state continues to grow, including integration of artificial intelligence, recruiting and retaining qualified attorneys, shortages of support staff and planning for leadership succession. Roundtable participants emphasized the need to modernize traditional business models to meet changing client expectations for pricing, efficiency, technology and quality of service. Participants discussed the value of offering flexible schedules, remote work options and professional development opportunities to attract and retain talented employees.
Artificial intelligence is substantially transforming legal practices by helping attorneys streamline repetitive tasks, review lengthy documents and improve efficiency, according to roundtable participants. Legal professionals also stress that artificial intelligence must be used responsibly, with attorneys verifying accuracy and protecting confidential information. Nevada is also adapting its legal education and licensing process through a new plan which combines foundational legal knowledge and a supervised practical experience examination to better prepare new attorneys for real world law practice.
Roundtable speakers further discussed broader concerns affecting businesses and clients, including rising litigation costs, large jury verdicts, the effectiveness of arbitration and a need for qualified judges with business experience. On this front, “We need more qualified judges in this state. We need more people who have experience in a variety of industries, who have sophisticated business experience, so that they speak the language and have a baseline of understanding,” said Ferugson.
This industry discussion highlighted the importance of adapting to changing business demands and modernizing the legal system to better support Nevada’s continuing population and economic growth. Read the full roundtable transcript here in Nevada Business magazine.
Ferguson is a shareholder in the firm’s commercial litigation and employment law practice teams. She also advises mining project proponents regarding federal Indian law and cultural resource and religious freedom laws and concerns. She received her J.D. degree, cum laude, in 2012 from New York Law School.
