Feb 23, 2020
It's not enough to be innovative or innovate! It's not a one
off proposition. In the legal industry today, it's increasingly
about continuous improvement, agility and embedding these core
capabilities in law firms/legal departments so they underpin and
drive the way business is done every day - this IS the new
firm/organisational culture. But, so much change so quickly can
also be exhausting.
We asked Maya
Markovich, Chief Growth Officer at Dentons' Nextlaw
Labs, how firms/organisations are introducing, advancing
and sustaining legal innovation - and a whole lot
more! Nextlaw Labs was a pioneer in the law firm R&D space
and has continued to experiment, iterate, expand and lead despite
increased activity and competition in the market.
Topics we discussed included:
- The difference between an incubator, accelerator and legal R&D department
- The difference in the lawyer, legalpreneurs and entrepreneurial mindset
- The impact and importance of a multidisciplinary approach to innovation
- The role of intrapreneurs and entrepreneurs in law firms and legal departments
- The role, function and impact of Chief Innovation Officers and innovation committees and, what they need to thrive
- Whether or not law firms should be investing in legaltech development
- How collaboration is the glue for law firms/legal departments and multidisciplinary approaches to the development of legaltech and the implementation of innovative projects
- What’s driving the current significant increase in investment in legaltech/AI globally and if the legal industry is approaching a tipping point
- And, what’s the BIG thing on the legaltech/AI or the legal innovation horizon in the next three years.