It is a colloboration with SharesPost, whom we discussed in this post about other forms of secondary market (SecondMarket, FirstPEX, AssetMatch) in September 2012.
Here. From the Introduction:
“In a report where innovation is the theme, we explore the ways in which law firms have changed their structure, funding, service delivery, management and people. We look not only at the position in England and Wales but Scotland and the international firms too. What has happened, what is happening and what will happen?”
“There are examples of innovation and creativity among these practices: Lawyers On Demand, the contract lawyer offering developed by Berwin Leighton Paisner, stands out and has been copied by others as the concept of flexible resourcing really begins to take off. A number of ‘virtual’ or ‘dispersed’ practices have also emerged – such as Halebury, Gunnercooke, Keystone and Axiom – and these have attracted the kinds of lawyers and clients that indicate this is not a passing fad.
But, in the main, no large firm has yet unveiled a significantly new or different way of practising corporate law.”
Karl Chapman [of Riverview Law}: “Irrespective of ABS, new entrants and new trade and equity investors, the funding regime for law firms is changing anyway because banks are forcing it. From a law firm perspective it really is the perfect storm – regulatory change plus increased competition plus a weak economy plus changed banking arrangements plus a partnership structure plus customer action equals a maelstrom.”
“Law firms know they need to be looking at new ways of delivering services but the problems for many are a combination of limited capital resources and the old phrase “they don’t know what they don’t know”. While law firms believe they are forward-thinking in their use of technology to offer a better client experience, nothing has really changed yet. The challenge will come when the next generation of law firms think of extraordinary ways to use technology to wow clients and deliver routine legal services in completely different ways.”
An interesting and reflective article by Laurence Kaye of Shoosmiths on some of the legal issues prominent in the digital revolution.
Cambridge researchers find way to use DNA to store digital data:
“Researchers at the EMBL-European Bioinformatics Institute (EMBL-EBI) have created a way to store data in the form of DNA – a material that lasts for tens of thousands of years. The new method, published today in the journal Nature (“Towards practical, high-capacity, low-maintenance information storage in synthesized DNA”), makes it possible to store at least 100 million hours of high-definition video in about a cup of DNA.”
More here (Nanowerk).
Sensible article from The Economist on the slow initial effect of radical innovation:
“In general, a very good way to underestimate the potential impact of a new innovation is to consider its possible contributions all other things equal, that is, assuming that nothing in the economy changes to accommodate or complement the new discovery…
A truly revolutionary new technology rarely has an enormous immediate impact. It’s influence unfolds slowly but powerfully as its reshapes society.
…consider that trinket the smartphone. It has only been in the last two years or so that half or more of the rich world has begun wandering the streets carrying a powerful, networked handheld computer at all times. In that short period, humanity has come up with some nifty uses for such things. But these are a scratch on the surface of the possible. Only in time—as new business models are created and technology improves and norms change—will be begin to understand and exploit the possibilities of so much distributed, mobile, connected information-gathering capacity and processing power.”
. Although the methodology appears to be based entirely on patent registration, weighted to size and global presence.
The Foresight Horizon Scanning Centre “helps Government to think systematically about the future by considering longer term issues across the entire public policy spectrum”. On 23 November 2012 the Centre published a refreshed Technology and Innovation Futures report, “identifying over 50 new and developing technologies which could generate billions for the economy in the future”. The report is here (also contains link to original 2012 report).
From the BIS press release:
“Government Chief Science Adviser Sir John Beddington, who led the research, said:
“It is more important than ever to invest in long-term opportunities for growth and this report provides insight into where that investment could have most impact. The Government’s core role, facilitating collaboration between industry and researchers, will be crucial to seizing opportunities for the future of the UK’s economic prosperity.”
Technologies and trends identified in the report include:read more »
“If the Ivy League was the breeding ground for the élites of the American Century, Stanford is the farm system for Silicon Valley”
A fascinating New Yorker article on Stanford University, from its foundation in the 1890s at the end of the gold rush, through its rise as a technological and engineering powerhouse, through to its present position as the “intellectual nexus” of the Valley and its ambiguous position as an academic institution many of whose staff and students ask of an endeavour, “what’s in it for me”: