The "MIT School of Law" - Keynote Presentation @Stanford CodeX FutureLaw Conference - (V2.01)

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The "MIT School of Law" - Keynote Presentation @Stanford CodeX FutureLaw Conference - (V2.01)

  1. 1. The MIT School of Law A Perspective on Legal Education in the 21st Century Daniel Martin Katz Illinois Institute of Technology Associate Professor of Law
  2. 2. Despite some of the blustery rhetoric
  3. 3. the market(s) for legal services is not going away
  4. 4. that said - the Market(s) for Legal Services is Changing
  5. 5. and in turn so is the 
 market for legal education ...
  6. 6. So the proper question we should be asking ...
  7. 7. How Do We Prepare Our Students to Survive (Thrive) in the emerging ordering?
  8. 8. in my view, we just need to
  9. 9. Provide them with skills that make them undeniable
  10. 10. to do so we must imagine and develop a new type of legal education...
  11. 11. Liberal Arts Legal .Edu
  12. 12. Liberal Arts Legal .Edu Polytechnic Legal .Edu
  13. 13. Polytechnic Legal.edu is arguably well configured to the various existing faces of innovation in legal
  14. 14. 3 faces of innovation in legal
  15. 15. (1) lawyers for innovators / entrepreneurs
  16. 16. (1) lawyers for innovators / entrepreneurs what most lawyers and law schools call “Law+Entrepreneurship"
  17. 17. (2) lawyers as innovators - substance /doctrine
  18. 18. poison pill - “the most important innovation in corporate law since Samuel Calvin Tate Dodd invented the trust for John D. Rockefeller and Standard Oil in 1879” (2) lawyers as innovators - substance /doctrine
  19. 19. emerging areas - 3D Printing, Driverless Cars, Augmented Reality, Data Breach, Big Data+Privacy, etc. Drones, Internet of Things, CyberSecurity, (2) lawyers as innovators - substance /doctrine
  20. 20. (3) lawyers as innovators - business/process innovation directed toward transforming the practice of law
  21. 21. (3) lawyers as innovators - business/process innovation directed toward cultivating new markets for law
  22. 22. Some Major Trends in the Legal Services Market
  23. 23. Trend 1: General Counsel as Legal Supply Chain Manager
  24. 24. What is one major historic barrier to legal innovation?
  25. 25. Client Sophistication
  26. 26. The Sophisticated General Counsel
  27. 27. Although many of pieces were already in place ...
  28. 28. The Financial Crisis Placed Significant Pressure on GC’s
  29. 29. To Control Their Legal Spend
  30. 30. Legal was brought in line with the Other C Level Officers/Divisions
  31. 31. “I am not running your training program ...”
  32. 32. (i.e. Don’t Put 1st and 2nd Year Associates on our work)
  33. 33. “If you want our work - you are going to work with other providers”
  34. 34. The General Counsel as Legal Supply Chain Manager
  35. 35. Blended Teams of Providers Law Firm + E-Discovery Firm + Legal Process Outsourcing + Law Division Insourcing + Software/Analytics Firm
  36. 36. Legal Supply Chain Mgmt. Data and Logistics = General Counsels as the Maestros
  37. 37. Client Sophistication is Critical to this Story ...
  38. 38. Client Sophistication has reset historic relationships ...
  39. 39. and is a necessary precondition for legal entrepreneurs
  40. 40. Trend 2: The Rise of Quantitative Legal Prediction
  41. 41. Quantitative Legal Prediction
  42. 42. Data Driven Law Practice
  43. 43. It Has Already Begun ...
  44. 44. implication is that every organization needs a data strategy
  45. 45. 2011 The Age of Quantitative Legal Prediction
  46. 46. 2011 The Age of Quantitative Legal Prediction
  47. 47. 2011 The Age of Quantitative Legal Prediction
  48. 48. 2012 The Age of Quantitative Legal Prediction
  49. 49. 2013 The Age of Quantitative Legal Prediction
  50. 50. Quantitative Legal Prediction - or - How I Learned to Stop Worrying and Start Preparing for the Data Driven Future of the Legal Services Industry Daniel Martin Katz Assistant Professor of Law Michigan State University 2013
  51. 51. 2013 The Age of Quantitative Legal Prediction
  52. 52. 2013
  53. 53. 2013
  54. 54. 2013
  55. 55. 2013
  56. 56. 2014
  57. 57. 2014
  58. 58. 2014
  59. 59. 2014
  60. 60. Some Commercial Examples
  61. 61. Predictive Coding in E-Discovery
  62. 62. https://lexmachina.com/
  63. 63. “The software identifies standard and terms in contracts, and its benchmarking tools show lawyers how their current document compares to the standard.”
  64. 64. http://www.noticeandcomment.com/
  65. 65. General Counsels as Legal Procurement Specialists TyMetrix - Using $50 billion+ in Legal Spend Data to Help GC’s Look for Arbitrage Opportunities, Value Propositions in Hiring Law Firms Legal Procurement (High End of Market)
  66. 66. experts, crowds, algorithms 3 known ways to forecast
  67. 67. For most problems ... ensembles of these streams outperform any single stream
  68. 68. data driven law practice
  69. 69. This is *not* the end of lawyers
  70. 70. Instead the pseudocode for our times ...
  71. 71. Humans + Machines
  72. 72. Humans + Machines >
  73. 73. Humans + Machines Humans or Machines >
  74. 74. How to get students trained for data driven law practice
  75. 75. Quantitative Methods for Lawyers Professor Daniel Martin Katz
  76. 76. Legal Analytics Professor Daniel Martin Katz Professor Michael J Bommarito II
  77. 77. Trend 3: Retail Legal Services (US + UK)
  78. 78. 70%+ of US does not have a lawyer ...
  79. 79. architecting solutions to this problem
  80. 80. is extremely valuable
  81. 81. but also very meaningful
  82. 82. technology aided access to justice
  83. 83. Retail Legal Services UK Edition Interesting Models Are Being Developed in UK
  84. 84. Retail Facing Legal Services US Edition
  85. 85. Trend 4: Law.Tech
  86. 86. LegalTechNYC is the largest technology show in the legal industry
  87. 87. 12,000+ attend~
  88. 88. Up to 20 billion dollars of technology/commerce on display** **Estimate via Oliver Goodenough of Vermont Law School
  89. 89. My Friend Bill Henderson ...
  90. 90. Took A Photo When We Were At LegalTechNYC
  91. 91. He Then Asked ....
  92. 92. Who Are These Companies?
  93. 93. What are they doing?
  94. 94. Process / Project Mgmt. Workflow Optimization
  95. 95. Discovery / Document Management
  96. 96. Search Info Visualization Automated Document Generation
  97. 97. Legal Analytics Legal Prediction
  98. 98. Law + Tech Sector is Heating Up
  99. 99. Some of these are established companies ...
  100. 100. But there are many more coming ...
  101. 101. https://angel.co/
  102. 102. 15 2009 Law or Legal Related Companies
  103. 103. 15 2009 Law or Legal Related Companies
  104. 104. 15 400 2009 2014 Law or Legal Related Companies +
  105. 105. R e p o r t e d s a l e price between $35 million and $40 million. Final Number was likely between $80 - $100 million A n u m b e r o f venture capitalists have invested in t h e c o m p a n y , including Silicon Valley’s Sequoia C a p i t a l w h i c h invested $7 million in 2007 ....
  106. 106. Law Schools as academic research institutions can help support the frontier of research and development in law
  107. 107. Trend 5: Tech/Process Infused Law Firms
  108. 108. All of this is part of so called #NewLaw
  109. 109. These Trends (and Many Others) Point to a Skills Mismatch in the legal market ...
  110. 110. In order to fully participate students need a different set of skills
  111. 111. What is Needed is
  112. 112. Real Innovation Real Competition and
  113. 113. An End to the Age of Mimicry
  114. 114. In Other Words,
  115. 115. Law Schools Should Stop Trying to be the 50th / 100th Best Harvard and Yale
  116. 116. Seriously, These Schools Are Not Even That Great ...
  117. 117. And The Game Is Rigged Anyway ...
  118. 118. The Game Is Rigged Anyway ...
  119. 119. Outflank these Schools
  120. 120. By Making Their Backhand Your Forehand
  121. 121. Just to Make the Point
  122. 122. How Many Professors at either of these Elite Institutions ...
  123. 123. Seriously Know Anything About ... Legal Information Technology Legal Information Engineering?
  124. 124. Obviously that is a rhetorical question
  125. 125. This Weakness Is Serious Because The Walls that Separated ...
  126. 126. Legal Education from the Legal Services Market Are Coming Down
  127. 127. And it is Game On :)
  128. 128. Time to Reboot What It Means to ‘Think Like a Lawyer’
  129. 129. Substantive Legal Expertise
  130. 130. Is NOT Enough
  131. 131. {Law}
  132. 132. Has Already Become ...
  133. 133. {Law + Tech + Design + Delivery} TM
  134. 134. where
  135. 135. { Law } = Substance
  136. 136. { Tech + Design + Delivery } = Process { Law } = Substance
  137. 137. {Law Substantive Legal Expertise
  138. 138. {Law Substantive Legal Expertise Analytics Platform AI Computing KM + Tech
  139. 139. {Law Substantive Legal Expertise Process Engineering User Experience Design Thinking Project Mgmt + Design Analytics Platform AI Computing KM + Tech
  140. 140. {Law Substantive Legal Expertise Process Engineering User Experience Design Thinking Project Mgmt Business Models Regulation Marketing + Design TM + Delivery} Analytics Platform AI Computing KM + Tech
  141. 141. the thrust of this is actually an idea developed @
  142. 142. T Shaped Professionals
  143. 143. The Components of the “T” Obviously differ by subtopics but there are some general themes
  144. 144. via my former student
  145. 145. So How Exactly Can We Train Law Students to Thrive in 21st Century Law Practice
  146. 146. A Thought Experiment: “MIT School of Law”
  147. 147. Blueprint for Legal Education in the Age of Law’s Information Revolution
  148. 148. I Guess I Was Fooled Because it Made Tons of Sense to me
  149. 149. Many Current Lawyers are really doing Hybrid Work
  150. 150. Law & ___ Tasks
  151. 151. Traditional Tasks with the Substantial Aid of Technology
  152. 152. Extend This Idea to Skill Blending in Many Domains
  153. 153. Building The “MIT School of Law” Inputs (Different Students + Faculty) Better Training = Better Lawyers Connect to the Broader Industry Ecosystem Attract Train Place
  154. 154. MoneyLaw: The Student Admissions Edition
  155. 155. Systematically Undervalued By The US News Rankings Posturing
  156. 156. Applied Mathematics Computer Science Statistics Economics Engineering Information Science
  157. 157. Must Go Out and Recruit Them
  158. 158. To Do So, You Need to Make the Case of Why Your School Over Others?
  159. 159. Critical Mass Is Important
  160. 160. If You Build It They Will Come
  161. 161. If You Build It They Will Come They Will Come If The Rest of the Team is there to join them
  162. 162. Faculty = Having “Hiring Lines” Biases You To Present
  163. 163. The “Best” Athlete Approach Depends Upon Which Sport You are Playing
  164. 164. ≠ Tennis Basketball ≠ Sumo Wrestling
  165. 165. Are You Sure You Have the Right Athletes?
  166. 166. Training and Skill Development For Students
  167. 167. A Potential Animating Rule ...
  168. 168. Every Course Be Evaluated in Light of ...
  169. 169. its ability to help students compete in the Legal Labor Market
  170. 170. Down Come The “Hot House” Walls
  171. 171. Of Course, There is Uncertainty about What Skills Are Needed
  172. 172. “65 percent of current grade-school kids may end up doing work that hasn’t yet been invented”
  173. 173. Response -- Hedge By Providing Lots of Different Types of Skills >
  174. 174. Diminishing Marginal Returns In Every Class
  175. 175. Therefore, Use The Quarter System
  176. 176. And Impose More Requirements
  177. 177. LAW
  178. 178. LAW
  179. 179. LAW
  180. 180. LAW
  181. 181. LAW
  182. 182. LAW
  183. 183. LAW
  184. 184. Who Said This Was Going to Be Easy?
  185. 185. Yes, there is going to be math on the exam
  186. 186. Capstone is NOT a Paper Alone
  187. 187. Unless it is a Business Plan w/ Mkt. Research
  188. 188. Students Must Build Something...
  189. 189. Legal Incubator/ Startup Legal Analytics Project ‘Lean’ Apprenticeship Program Design/Legal Info Architecture Lab
  190. 190. Building The Ecosystem
  191. 191. R & D for the Industry (Grant $$)
  192. 192. Legal R & D (NSF Funding?)
  193. 193. Tech Transfer
  194. 194. Venture Capital Angel VC’s
  195. 195. Strategic Relationships with Key Members of the Industry
  196. 196. Again Critical Mass is Very Important
  197. 197. As Peer to Peer (P2P) Education is Critical
  198. 198. Packaging the Final Product
  199. 199. need to do something different and question status quo thinking
  200. 200. hack the existing prestige hierarchy
  201. 201. Portfolios Resumes> Evidence > Noisy Signaling
  202. 202. http://www.andyninh.com/
  203. 203. http://www.chasehertel.com/
  204. 204. http://about.me/ karenfrancismcwhite
  205. 205. http://patellis.wordpress.com/
  206. 206. http://briancpike.com/
  207. 207. http://www.amanismathers.com/
  208. 208. The MIT School of Law
  209. 209. Don’t Expect A New Law School in Cambridge, MA
  210. 210. This is not a blueprint for all of legal education
  211. 211. probably more likely to be a well functioning unit within an existing school
  212. 212. What I Am Really Saying Is ...
  213. 213. “don't waste a crisis”
  214. 214. this is a very exciting time in law.edu and there is everything to play for ...
  215. 215. but the Future is *Not* Self-Executing
  216. 216. it is up to all of us ...
  217. 217. so lets go make it happen!
  218. 218. Daniel Martin Katz Chicago Kent College of Law Associate Professor of Law @ computational computationallegalstudies.com danielmartinkatz.com

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