Legal Innovation is a change made to a legal practice that results in the lawyers delivering better value to their clients. The goal of legal innovation is understanding customer’s needs in choosing the right tool to reduce costs and empower customers with full control over the information they use on a day-to-day basis.
The very beginning of legal innovation process starts as an idea how to change legal practice towards faster and more efficient delivery of legal services. Law firms and lawyers do not need expensive tools to make their practice more efficient. The understanding of existing tools purpose and usage can also be very powerful. There are few very easy steps that every legal expert can do to demonstrate his or hers willingness to innovate:
- Use the Data Already Available: Legal service providers and lawyers hold an incredible amount of valuable data about the work they do for their corporate clients. It is amazing how much value a client will derive from some basic data, if the data is properly structured and connected.
- Pre-empt Recurring Engagement: If there are repeat engagement issues that the legal service provider identifies, then the in-house team should know about it.
- Suggest Even the Slightest Process Improvements.
What is more, among using of existing tools to optimize services/processes, on a more advanced level exists also development of new and innovative legal business models.
Legal innovation is not a rocket science. It is creative activity and should be done mindfully as opposed to how often we find ourselves working in routine tasks. The best approach for legal innovation is combining legal and technical knowledge with elements of different creative working methods.
LexRatio goal is to empower lawyers to start thinking like innovators and to exchange knowledge with experts from other fields (computer science, data analytics, etc.). Even small steps in day-to-day work of a lawyer can lead to big progress in more efficient and effective work while not reducing the quality.