Embrace change to create new markets
Despite an aversion to words such as “innovation” and “artificial intelligence” (AI), today’s lawyers do accept the notion that engagement with technology can lead to more effective interactions and legal advice.
Consequently, routine and manual “heavy-lifting” processes that have in the past taken up a lot of time for legal teams are being eliminated, allowing lawyers to turn their attention to higher-value tasks and deliver exceptional client services.
What is less well understood and may be feared by law firms and IP service providers is the possibility of embracing these kinds of “disruptive” technologies as a source of business growth and stability, rather than one of potential cannibalisation. Many consider disruptive innovation to be perhaps inevitable, but something to be avoided for as long as possible.
However, some firms have found that when they combine new technologies with changed ways of working, a modified service offering, and job-based or subscription pricing, small and medium-sized enterprise (SME) clients become not only economically attractive, but also eager to buy, low risk and relatively easy to serve.
At TrademarkNow, we are hearing these kinds of stories from our customers in two main areas: clearance and enforcement.
