Laurence Colletti serves as the producer at Legal Talk Network where he combines his passion for web-based...
In this Special Report, Lawbooth CEO Willy Orgorzaly gives a Darwin Talk, a 5 minute thought-provoking presentations meant to intrigue, excite and generate discussion, on how lawyers are adapting to changes in the legal profession at the Evolve Law Client Driven Technology Solutions event held at the Legal Talk Network’s Denver studio. Willy talks about how the legal marketplace is currently experiencing a technological revolution and, similar to the industrial revolution, industries that have existed for decades are being replaced (except this time with apps, websites, and technology). He explains the trends of disruption that these new technologies are causing in various industries and how most companies view them as novelties until they begin to take valuable market share. Willy accentuates this fact by analyzing how Kodak’s development of the digital camera, and lack of investment in this new technology, resulted in their subsequent bankruptcy. He then compares the emergence of legal tech and the legal industry’s response to this new sector of the marketplace to this trend of technologically induced upheaval. Willy also analyzes how millennial consumers and attorneys expect cutting edge technology within the profession; Resistance to this demand results in one third of lawyers and new associates leaving their law firms within three years. He explains that there is a frustration among millennials when they encounter a law firm that does not embrace technology and many of those potential employees are willing to take lower paying jobs that will fulfill their tech expectations. These changes, Willy says, are also increasing access to justice for the common individual by increasing efficiency and reducing cost for law firms (this is a huge fiscal opportunity for the firms that embrace new tech). He then closes the talk by looking toward the future and speculating how these changes will influence client and attorney relationships.
Willy Ogorzaly is the CEO and co-founder of Lawbooth. He attended the University of Colorado Leeds School of Business.