Samy MansourPartnerClayton Utz

#LawFest2019Cordis Auckland 21 March 2019

Legal Innovation - Where do I begin & how do I do it?

TODAY

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WHAT IS "INNOVATION" AND WHY INNOVATE?

THE LEGAL MINDSET AND THE LEGALPRENEUR

FOSTERING AN INNOVATIVE MINDSET

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A. WHAT IS "INNOVATION?"?

B. WHY INNOVATE?

1. What is innovation?

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►Often easy to identify►Usually difficult to define

"Innovation"

►If you can't define it►If you can't agree what it is

The problem

► you won't innovate effectively.

"Change that adds value".

▼

… but what does "value" mean?

(Inventium)

1. Why innovate?

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Point of difference

Lower costs

Survival

New business opportunities

Key - align stakeholder expectations

1. Why innovate?

If things didn’t change, then your company could keep on doing what it’s always done, and there would be no need for innovation. If markets were stable, if customers were predictable, if competitors didn’t come up with new products and services, and if technology stayed constant, then we could all just keep going as we did yesterday.But all the evidence shows that change is racing at you faster and faster, which means many new types of vulnerabilities. Technology advances relentlessly, altering the rules of business in all the markets that it touches, which is of course every market. Markets are not stable, customers are completely fickle, and competitors are aggressively targeting your share of the pie. So please ask yourself, “Are we managing with the realities of change in mind? And are we handling uncertainty?”

Langdon Morris, The Innovation Masterplan

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The why of innovation is brutally simple: change is accelerating.

2. Legal Mindset ` And The ` Legalpreneur

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Sara BlakelyWorld's.

Youngest. Self-made.Billionaire.

2. Legal Mindset And The LegalpreneurTraditional legal mindset • Precedent oriented • Conservative risk profile• Averse to failure• Averse to material risk• Time based

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2. Legal Mindset And The LegalpreneurInnovative mindset • Needs oriented • Challenger risk profile• Averse to complying with norms • Averse to road blocks • Outcomes based

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3. Fostering an ` innovative ` mindset

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3. Fostering an innovative mindset

• Where should I start innovating?

• How can I develop my creativity?

• How can I test my ideas?

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3. Where should I start innovating?

• With a need.

• Always start with a need.

• Please don’t start with a "cool" idea.

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3. Where should I start innovating?

• What are the user's needs?

• What steps does the user go through using that product or service?

• How long does each step take?

• Are all of the steps necessary?

• At what points are any of the user's steps inconsistent with satisfying its

needs?

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"Pain storming" - map out all of the frustrations with a product or service.

3. How can I develop my creativity?

List all of the relevant steps for the product or service, and then:

• question the necessity for each step; and

• list the alternatives for each step.

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A. Question assumptions

3. How can I develop my creativity?

Try and solve something truly impossible to develop your creativity.

It will engage the creative side of your brain.

Then think about the "real life" problem you are trying to solve.

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B. "Impossible tasks" (Inventium)

3. How can I develop my creativity?

Avoid "process block".

How can you deploy existing technology

to better meet a client's needs?

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C. Consider existing technology

3. How can I develop my creativity?

• #LawFest2019Process block example

3. How can I test my ideas?

• Consider what the "bare minimum" is to demonstrate

your innovative product or service.

• All about managing cost and risk.

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A. Minimum viable products (MVPs)

3. How can I test my ideas?

• Open ended questions to test the value of your idea,

how it could be used and whether or not they would use it.

• Test the assumptions supporting your idea.

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B. Ask clients

#LawFest2019Questions please

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