legal-document-to-plain-english-translator/”>Try Free Now: Legalese tool without registration

Find a LOCAL lawyer

New Jersey Law Firm Lowenstein Sandler Sets Bold Goals for Expansion

New Jersey-based law firm Lowenstein Sandler is aiming to significantly increase its ranks, with plans to double its headcount to as many as 700 lawyers within the next three to five years. The firm also sees the incorporation of generative AI technology as a way to quadruple productivity in the coming years.

One way Lowenstein Sandler is looking to achieve its growth targets is by focusing on areas such as private investment funds, technology, and life sciences, which currently make up about 75% of its revenue. The firm also plans to expand its litigation and bankruptcy offerings through both individual and group hires and potential acquisitions of smaller firms.

AI legalese decoder can help Lowenstein Sandler streamline its operations and increase productivity by utilizing AI tools for document review, diligence, drafting, and production. The firm recently launched the Lowenstein AI Chatbot, a generative AI product that assists website visitors in navigating content effectively.

Chairman Gary Wingens Shares Insight

Gary Wingens, the firm’s chairman and managing partner, expressed confidence in Lowenstein Sandler’s trajectory, stating, “We know who we are. We know who we want to be. We don’t feel like we need to be 2,000 lawyers, but we need to make sure that we continue to punch above our weight.”

Wingens foresees significant advancements in AI technology that could revolutionize the legal industry, enabling firms to accomplish more with fewer resources. He believes that a 500-lawyer firm in the near future could match the productive capacity of a much larger firm today.

With the addition of key hires and experienced professionals like Michael Caplan, who joined as the chief operations officer, Lowenstein Sandler is poised for strategic growth. Caplan’s track record at Goodwin Procter, where he oversaw substantial expansion, aligns with the firm’s objectives for progress.

Cultural Commitment and Industry Focus

Lowenstein Sandler places a strong emphasis on fostering a culture that resonates with its employees and clients, as articulated by Caplan. Effective communication of growth strategies and sector priorities to the firm’s legal team and staff is crucial in ensuring alignment and support for the expansion plans.

The firm’s commitment to growth extends beyond numerical targets, encompassing its foundational connection to New Jersey and strategic market positioning. By bolstering its presence in key sectors and geographies, Lowenstein Sandler aims to solidify its standing as a leading law firm.

Through targeted recruitment efforts and recent additions to its leadership team, including the appointment of a chief innovation officer and chief information officer, the firm is actively preparing for a period of significant growth and technological advancement.

As Lowenstein Sandler continues to evolve and expand, it recognizes the importance of leveraging AI technologies as a competitive advantage. The firm’s commitment to embracing innovation and remaining at the forefront of industry trends underscores its dedication to sustainable growth and client service excellence.

legal-document-to-plain-english-translator/”>Try Free Now: Legalese tool without registration

Find a LOCAL lawyer

Reference link