Legal innovation moves faster than ever.
We see breaking news nearly every week from market players across segments.
Did you keep up? (Did you really?) It’s OK. We know you don’t have time for that.
WE READ IT FOR YOU, SO YOU DON'T HAVE TO.
For Big Law, the New Normal definitely means
We dig deeper past the prevailing narrative to get at the real story: flat markets often mean deceptively dangerous waters for incumbents.
The Great Recession changed the Big Law game forever. Or has it?
The market signals are inconsistent: the Super Rich get richer every year, the average Am Law KPIs continue to climb, and the lateral market keeps on churning.
So why is everyone innovating something & disrupting themselves before lunch every day?
Sneak Peek Current State of Play
01
INVESTORS BET ON INSURGENTS: WILL BIG LAW HOLD 'EM OR FOLD 'EM?
A million dollars isn't cool. You know what's cool? That's right, Sean Parker. A billion dollars. Capital investments in legal startups exceeded $1bn in 2018. We follow the money & break down the major trends.
02WHAT'S HOT (OR EVEN REAL) NOW & NEXT IN LEGAL AI?
Major legal content publishers rolled out flagship product suites touting AI integration into mainstream legal research. AI-enabled document intelligence extends beyond familiar waters of eDiscovery, but it's still early days for leading-edge tech.
03
INSURGENTS ROAR, INCUMBENTS MATURE
When innovation actually works, the drivers extend beyond tech. We pick out the trends that matter: insurgents pull together the bankroll and the talent to mount a serious challenge while incumbents make smart moves to extend their moat.
04NOW IT'S ABOUT BETTER + FASTER (NOT JUST CHEAPER)
Let's get real. Most early innovation efforts focused on cheaper. We see the winds changing right now to better + faster, as elite firms who largely sat out the early rounds make big moves and write big checks.
05
ECOSYSTEM IS KING: WHAT IT (ACTUALLY) MEANS FOR LEGAL BUSINESS & TECH
Right after the Great Recession, legal innovation looked like a fringe movement. Then it turned into an arms race. We’re on the cusp of a new era, where the ecosystem will reign supreme. We explain why you’ll be hearing more and more about platforms, partnerships and channels.
CONTENTS
POINTS OF INFLECTION
CURRENT STATE OF PLAY:
INNOVATION IN LEGAL MARKETS
01
2018 IN REVIEW & FIVE KEY TRENDS
How a year of inflection points created notable shifts in the legal market landscape.
02
WHO ARE THE PLAYERS?
Blurring lines across 3 functional categories: insurgents, incumbents, and investors.
03
WHAT IS INNOVATION?
A working definition and a few helpful frameworks.
04
WHY DO IT AT ALL?
Innovation costs time and money, but we often lose sight of the bigger picture: what's it all for?
A problem-oriented view of the current state of play.
05
Investment trends
We got 99 problems but capital ain't one.
A holistic view of investment activity and a few developments of interest.
06
STARTUP SPOTLIGHTS
Two startups to watch:
Doxly & Heretik
07
INCUMBENTS STRIKE BACK
ALSPs, Big 4, robot lawyers: Big Law is besieged from every direction. Their competitive response is just getting started.
Trends in Big Law innovation.
08
DECISION POINTS
The strategic decisions of corporate legal functions will shape the competitive threats and opportunities for Big Law — and for the insurgents coming for Big Law's lunch.
The most critical decision points facing the reigning powers: buyers of B2B legal services & incumbent providers.
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POINTS OF INFLECTION: CURRENT STATE OF PLAY IN LEGAL INNOVATION
$5000
