To Adopt Legal Tech, Lawyers Need to Start Thinking Like Entrepreneurs
https://www.law.com/legaltechnews/sites/legaltechnews/2017/12/11/to-adopt-legal-tech-lawyers-need-to-start-thinking-like-entrepreneurs/
Law firms are businesses. Lawyers who have ownership in a law firm should recognize this fact. In turn, lawyers should set out to implement technology designed to help reduce costs and increase efficiency. This article discusses the importance of lawyers thinking more like entrepreneurs in their approach to technology.
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“This new reality requires lawyers to increasingly act more like disruptive entrepreneurs, shifting away from our traditional mindset. This is not easy even for the most millennial-minded lawyer. Legal training and practice traditionally rests on looking at the past, like precedents and case law, rather than forward to the future.
The transition from a lawyer to a more entrepreneurial mindset is one I have confronted when I co-founded LawGeex, an AI contract review automation platform, in 2014. Formerly a commercial lawyer at a large firm, I realized that the old attributes drilled into me—perfection, risk averseness, confidentiality, and being in control—were costly, inefficient and sometimes destructive. Making a mental switch away from the past involves thinking differently about essential lawyer traits, in many cases, turning them on their head.
Based on my experience, there are a number of changes in mindset that lawyers need to focus on—all enabled and enhanced by adoption of technology.
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