A History of Risk-Aversion in Legal
Clio's Matters Season 2: Episode 2.2
Listen to the podcast:
About the episode:
No risk, no reward—in this second episode of season two of Matters, we’ll take a high-level view of the legal profession—chiefly, why lawyers tend to be so risk-averse, and the effects that this cautiousness has on legal practice, innovation, and firm sustainability.
For this discussion, our hosts, Jack and Nefra, welcome renowned legal author Mitch Kowalski, Big Law attorney and Access to Justice thought leader Tiffany Graves, and award-winning law professor and scholar Bill Henderson.
Specific discussion points include:
- Why so many lawyers and law firms have been slow to adapt to technological changes, as compared to other industries.
- Why change is scary for many legal professionals, and how resistance to change stifles progress in the industry.
- How adopting a client-centered mindset encourages legal professionals to be more adaptive and innovative.
- What progress has been made in recent years, especially as the industry responded to Covid-19.
- Why lawyers’ emphasis on risk management can have strong negative consequences when applied to law firm business decisions.
- How thinking like a businessperson emphasizes smart risk-taking, and why lawyers should adopt a business mindset.
This podcast was originally produced by Clio. You can find the original podcast on their website.