Forbes (July 16)
Free markets and technology promote competition, revolutionizing one industry after another. “The legal profession is also starting to get hit by the whirlwinds of what Joseph Schumpeter called creative destruction. There’s a proliferation of legal apps that show you how to write wills and take care of other such tasks without the bother and expense of an attorney. There will soon be numerous businesses with low-paid lawyers manning call centers to answer any questions. Entrepreneurs in India will also train individuals to handle routine legal matters in the U.S., via the Web and phone. State bar associations will howl, but strictures preventing individuals from taking bar exams without first completing law school will be undermined by the Web.”
Free markets and technology promote competition, revolutionizing one industry after another. “The legal profession is also starting to get hit by the whirlwinds of what Joseph Schumpeter called creative destruction. There’s a proliferation of legal apps that show you how to write wills and take care of other such tasks without the bother and expense of an attorney. There will soon be numerous businesses with low-paid lawyers manning call centers to answer any questions. Entrepreneurs in India will also train individuals to handle routine legal matters in the U.S., via the Web and phone. State bar associations will howl, but strictures preventing individuals from taking bar exams without first completing law school will be undermined by the Web.”
Tags: Competition, Free markets, Industry, Legal profession, Schumpeter, Technology
