and despite through from February 5 2016 1 How does regulation impact innovation 2 3 From Berwin Leighton Paisner The Speed of Business Report 4 but 5 6 What about legal ID: 485837
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Slide1
Innovation ________ regulation and despite through from February 5, 2016
1Slide2
How does regulation impact innovation?2Slide3
3From Berwin Leighton Paisner 'The Speed of Business‘ Report Slide4
4Slide5
but…5Slide6
6What about legal? Slide7
7
“The
regulation of lawyers defines not a product, but a
business model.”
“So
long as lawyers are
controlled by the underlying architecture of the solution shop configuration
, tweaking individual rules will amount only to painting the trim
.”
Ray Worthy Campbell, “Rethinking
Regulation and Innovation in the U.S. Legal Services
Market”
What about legal?
Firms as “solution shops”Slide8
8UPLRule 5.4 Rule 7.2Slide9
9But…Slide10
10The Rise of “Legal” StartupsNumber of companies on Angel List identified as “Legal”:2009: 152013: 305
2016: 1138 (Legal + Legal Tech)
Funding:
Nearly 1000 individuals identified as “Legal Tech” investors
Over 300 companies listed as having received funding
Over 100 companies currently hiringSlide11
Funding examples (most recent rounds): UpCounsel $10,000,000Ravel Law $9,200,000Casetext $7,000,000
AirHelp $4,700,000
Shake $4,000,000 (
acquired)
Lex Machina – acquired by Lexis NexisLexoo
: $1,700,000
Avvo: $71.5 million series E (total 132
million)Mighty
:
$5,000,000
Premonition
: $
3,000,000
Everlaw: $8,100,000
More?Slide12
12
2OO3
DCA “Competition and regulation in the legal services market”
"the current framework is out-dated, inflexible, over-complex and insufficiently accountable or transparent”
2OO4
Sir David Clemente “Review of the Regulatory Framework for Legal Services in England & Wales”
2OO3
DCA “Competition and regulation in the legal services market”
"the current framework is out-dated, inflexible, over-complex and insufficiently accountable or transparent
”
2OO4
Sir David Clemente “Review of the Regulatory Framework for Legal in England & Wales”
"To consider what regulatory framework would best promote competition, innovation and the public and
consumer interest
in an efficient, effective and independent legal sector.”
Rethinking the objectives of regulation
(
UK)Slide13
13Slide14
14Slide15
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