Law.com Trendspotter: Chief Innovation Officers Are All the Rage in Big Law, but Will Firms Give Them a License to Fail?
The word "innovation" means something different to every law firm. But the one unifying principle of innovation in any context is that success requires failure—often, a lot of it. For too many firms, however, failure is not an option.
July 12, 2021 at 11:02 PM
7 minute read
Credit: chaiyapruek youprasert/Shutterstock.com
The Trend:
Large law firms are hiring professionals to their C-suites to help unify and streamline pockets of innovation into one cohesive, firmwide vision.
But whether these chief innovation officers will be able to achieve buy-in from their partnerships depends on whether and to what extent those partners have the stomach for experimentation and, yes, failure in pursuit of truly transformative ideas.
If they don't get that support, CINOs will suffer the fate of so many other business professionals toiling away at law firms where value is measured solely in terms of billable hours: they'll be misunderstood and, ultimately, marginalized.
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