BigLaw as Legal Fiction and the Lack of Innovation

Legal Technology & Informatics

Think Outside The Bar

Notre Dame Law SchoolSpring Semester, 2015

Please refer to the full article that these slides are based on an article:

Big Law as Legal Fiction and the Lack of Innovation at http://radicalconcepts.com/156/big-law-legal-fiction/

Class 2 - Innovator’s Dilemma and Big Law

January 21, 2015

Professor Ron Dolin

http://radicalconcepts.com/156/big-law-legal-fiction/

Barriers to AdoptionThreats and OpportunitiesImpact of Law Firm FailuresToday's Legal MarketLaw Firm ResponseOrganizational Decision-MakingValue, Values, and MetricsBeyond Big Law

Overview: Big Law Innovation?

Barriers to Adoption

Why do we care? Profit Structure: Who Gains, Who Loses? Producers are also Consumers Bureaucracy Lack of Standards Poor Design

Jan 21, 2015; Legal Tech Course

Copyright © 2015, Ron Dolin 3

Threats and Opportunities

The well-run company Overshooting needs MS Word vs. Google Docs Disruptive vs. Sustaining Innovation Unbundling (Componentization) Distribution Channels Low Margins and Non-consumption Let's all move upmarket! Values old and new



Impact of Law Firm Failures

Creditors Clients Staff and Associates Partners



Today's Legal Market

Flat Revenue for Most Big Law Alternates Available Client Expectations Changing

Fad or trend?



Law Firm Response

ABA and ABS 10-15% Innovators Attempts to Move Upmarket? Lateral Hires Expansion through Mergers Less Leverage



Why So Little Innovation?

Organizational Decision-Making

Billable Hour Profit-Per-Partner Shareholders vs. Managers Dividends vs. R&D



Value, Values, and Metrics

Value is Quality over Cost Big Law Status Quo

Values: “Productivity” New Entrant Values:

“Productivity” Metrics: Comparing

Quality and ROI Innovation Killers: (New)

Market Share Low(er) Margins, IP, APIs

– Efficiency



Barriers Beyond Big Law

Mid-Size Law Small/Solo Practice Established Technology Providers Courts Access for All



Conclusion

What incentivizes legal technology? What blocks it? Who does it help/hurt? What might a 21st century legal system look like?



BigLaw as Legal Fiction and the Lack of Innovation

Law

Transcript of BigLaw as Legal Fiction and the Lack of Innovation