We should always challenge, or at least question, the status quo. The status quo is great only if you want the same thing you have always had. But today’s business world is dynamic and companies demand innovation and value creation.
Lawyers should embrace change and more progressive thinking from academia that is proving to be powerful.
Some of the “new” concepts that lawyers need to embrace include the Vested business for collaborative contracts; Gillian Hadfield’s and Iva Bozovic’s flexible contracts scaffolding; Preventive Law (Tom Barton/Helena Haapio); Visualization/Contract Design (Stefania Passera and Helena Haapio); formal relational contracts (my work with David Frydlinger and Oliver Hart, specifically the recent HBR article, “A New Approach to Contracts”; and Optimism vs Prevention mindset (Libby Weber and Kyle J. Mayer).