The document discusses the relationship between regulation and innovation in legal services. It identifies four types of innovation - product, process, marketing, and organizational. Common barriers to innovation include prescriptive regulation, regulatory uncertainty, and high compliance costs. To address these barriers, regulators should focus on outcomes over prescription, maintain open dialogue, provide clear guidance, and reduce the costs of regulation. This can help increase flexibility for legal services providers to experiment and innovate, which benefits consumers and is consistent with the goals of the Legal Services Act of 2007.
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