Today I appeared on a forum Vanderbilt Law School holds each spring for 1L students to familiarize them with the various curricular programs we have here, of which there are many (see list here). I had the pleasure of introducing our new Program on Law & Innovation for the first time at this forum, giving the students an overview of our themes, faculty, courses, and activities. They seemed to get it, and showed genuine interest.
When I returned to my office I thumbed through the new 2015 Report on the State of the Legal Market published by the Georgetown Law Center for the Study of the Legal Profession and Peer Monitor. One startling passage (though it’s not news) reports that although very high percentages of surveyed law firm leaders agree that they are likely to continue to see demand for efficiency, price competition, commoditized legal work, and competition from non-traditional legal service providers (well above 80% in each case), only 40 percent of their firms have done anything strategic to achieve greater efficiency and only 30 percent have significantly changed pricing strategy. The report goes on later to examine different explanations for the resistance of law firms to change notwithstanding that most law firm leaders get it: lawyers are conservation; law firms are not designed to invest in innovation; why should a senior partner change rather than maximize his or her final years of profits; etc. The bottom line is that it is largely due to people and human nature, not law firms per se.
I am reminded of Max Plank’s famous observation: A new scientific truth does not triumph by convincing its opponents and making them see the light, but rather its opponents eventually die, and a new generation grows up that is familiar with it. Of course I am not hoping for any senior equity partners to die. Rather, I am hoping that our Program and others like it popping up at other law schools will equip our graduates to “be familiar with it” when it comes to initiating and navigating necessary change in their law firms as leadership shifts to them. If we can accomplish even just that, I will feel this was a worthwhile investment of the Law School’s and my resources.