Innovation: the introduction of something new1

“Shaped by Innovation” is the theme for the first edition of Thomson Reuters Forum of 2016. As the definition states, innovation is the act or process of introducing something new.

In the legal field, innovation has been used recently to emphasize new technology offerings or services, often those that disrupt traditional legal practices. But as the content in Forum will highlight, innovation also can serve as a transformation in process, improved workflow and adapting to meet the changes in the market, as well as bring disruption and new technologies to the industry.

Susan Taylor Martin, president of the Legal business of Thomson Reuters, stated that change can make us stronger and provides an opening to solve challenges in the market. “The overall market for legal services is healthy. But not for everyone. The law firms, corporate and government legal departments, alternative providers and legal start-ups who are succeeding in this increasingly competitive market are the ones most open to change – rethinking business models, client relations, career paths, and adopting cutting-edge technologies that can help enable transformation.

“We’re all shaped by change and by the innovations that change demands. It’s clearer than ever that the firms and organizations with a culture of experimentation and adaption are the ones rewarded in a transforming market.”

Visit the Forum webpage to download and the read the latest articles or to download the current issue through the Know 360 app.

1 Merriam-Webster dictionary



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