Innovation in Professional Services

LAW JD 708

This course will examine innovation theory and how it applies to professional service firms (PSFs), including law firms. The initial focus in the class will be on the disruptive forces and 'megatrends' in the world today that have an impact on businesses -- and, therefore the professional firms serving those companies. The class will introduce students to the many facets of innovation in the PSF context, including the application of advanced technologies to business/legal problem solving, derivation of new insights from data science, changes to the traditional employer/employee model (the 'future of work' for professionals), alternative revenue/business models applicable to PSFs, and incorporating lean startup/design thinking theory into PSF business/legal problem solving. The unique innovation directive applicable to law firms will be closely examined, including the emerging application of advanced technologies - such as artificial intelligence and blockchain -- to legal problem solving. In addition, the course will examine the ethics and legal/regulatory issues with advanced technologies and how this evolving ethics/regulatory field will impact businesses and their professional service firm providers. NOTE: Final paper required in lieu of exam.