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For frustrated legal innovators, one of the missing pieces might be found in this new book on trust.


Todd Henderson and Salen Churi, two law professors, have written a deep analysis of trust — its cultural history, social mechanics, economic elements, and of course how it relates to law and regulation.  As they put it, the goal of the book is “to establish trust as a lingua franca for discussion of issues that are often thought of as discreetly political but actually needn’t be” (p. xvi).

The inspiration for their effort was Uber, which I will discuss a little more in a minute.  But while the book covers a great deal of ground — from securities regulation to dinner parties to the Hanseatic League — it does not pause to unpack the implications for lawyers themselves.  I’d like to do a little of that below, because the margins of my copy of The Trust Revolution are full of graffiti on that topic.
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We see many companies these days running law firm convergence exercises – generally resulting in a preferred law firm network with fewer “approved” firms than the company previously used. The goal of this exercise is usually to reduce total legal spending and simplify outside counsel management. This kind of effort has a long track record