This is an assignment given to students in my fall 2013 Corporations class at Indiana University Maurer School. The purpose of the assignment was two-fold. First, to obtain knowledge on the basic elements of what it takes to start and run a successful business. And second, to create a window on the burgeoning legal tech and legal process industry. Teams of five to six law students profiled 16 companies in the law and technology space, including Advance Law, Axiom, Black Hills IP, Datacert, Ernst & Young, Exemplify, Huron Consulting, Integreon, Legal Force, KM Standards, Manzama, Modria, Neota Logic, Pangea3, Recommind, and Stewart Richardson.
The assignment was an experiment, albeit one that worked very well. Students reported surprise at the depth and breadth of the innovations taking holding the legal market. One of the takeaways from the evening of presentations was that the market was filled with opportunities for those willing to stretch into the law and technology space. A second takeaway was that students have to proactively obtain new skills and knowledge as the emerging market has no secure place for the complacent or mediocre. A third takeaway was the near universal generosity of businesses when it comes time to help students. Remarkably, most groups had the benefit of a lengthy conference call with senior leadership at the profiled companies.
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