TALKING TECH, Combining Innovation & Technology for Real Change

TALKING TECH, Combining Innovation & Technology for Real Change

1. Setting the Foundation

   • Joseph Schumpeter. He promoted the term “creative destruction”
     • In his book Capitalism, Socialism, and Democracy,
     • entrepreneurs and their ability to create a new good or service,

2. How Does an Existing Organization Avoid Becoming Obsolete?

   • The Legal Nexus of Forces breaks the analysis down into four categories:
     • 1. Client Sophistication
       • Client sophistication undoubtedly drives legal technology changes.
     • 2. Change in Competition
       • Law firm
     • Law Firm Innovation
     • 4. Emerging Technology.
   • Incorporate R&D (Research & Development) group
   • It identifies new competitors and new strategies of existing

3. Now What?

   • Together, innovation and technology
     • If we look at the landscape of technology start-ups in the legal industry
   • That innovation and technology coupled together are a powerful market disrupter
   • And for your organization to avoid becoming obsolete, it comes down to a willingness to change, and a commitment to the investment of time and money

4. Are We a Legacy Industry That Can Transform?

   • Innovation has the ability to change markets and break down boundaries.
   • The economic growth of our industry depends on legal informational professionals
   • Be disciplined in innovation and seek new ways to create new services.

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