If a successful large law firm faced an Innovator’s Dilemma, what would it look like?

On the one hand, the firm has a wonderful set of endowments: (1) longstanding and lucrative relationships with industry-leading clients; (2) a business that requires very little operating capital yet generates significant cash and profits; and (3) an established

Week 3 of my “How Innovation Diffuses in the Legal Industry” class focused on the crucial role of consultative sales and established distribution channels in the diffusion of innovation.  The success was entirely due to our guest lecturers from Thomson Reuters, pictured above.

The value of this class, however, will not make sense

The two figures above reflect frameworks that are widely used within the technology industry to grapple with the treacherous nature of high-tech product development.

Figure 1 is the 2017 Hype Cycle, which is published by Gartner, a large international research company that helps CIOs and other IT professionals understand and evaluate emerging technologies.

The graphic above reflects three different types of innovation “outcomes”:

  1. Initiation of an innovation adoption process that results in an organization making a decision to adopt an innovation. See Post 015
  2. Implementation of the adoption decision, which entails planning, change management, and redefining/restructuring and clarifying the innovation in the field so that it delivers its