I have struggled the last few days, trying to decide how to tackle this topic, while keeping many other things in the air. The last aspect of Legal Potentials goals is to leverage the clinics and serving the start-up community to develop innovative technologies that will benefit the legal community. This third prong, or goal is the recognition the the old legal industry is due a face-lift and getting involved as early as possible to take advantage of the ripening legal tech market. I recently read an article that thinks there is room in the market for 5 or more $500 million dollar companies in the next couple of years.
I don’t have any specific ideas, but I think it is interesting to follow and learn about the new apps/web services and legal offerings that are entering the market. Some are trying to provide greater access to legal information, services, and applications simplify yet get in writing contracts. No doubt there is plenty of room for growth, and hurdles to overcome as the old guard seeks to protect the industry and profession, while new entrants are seeking to further disrupt the legal industry.
So without getting too deep into stats, or specific apps this intro to the 3rd goal of Legal Potential is clear that legal tech is changing and being part of the innovation of the way law is practiced and consumed will be exciting.
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