No profession is immune from disruption. A business with a value of $400 billion per year is a attractive target for newcomers, ranging from financial institutions to startups. Can legal ward off its challengers? Not without changing.

“The Innovator’s Dilemma” refers to Clayton Christensen’s theory that successful companies are too focused on customers’ current needs and that they fail to adopt technologies that will fulfill customers’ future or unspoken needs. When the goose is laying the golden eggs, it can be challenging to focus on what happens after the goose is gone. Think of Blockbuster’s collapse to Netflix or Amazon’s decision to develop the Kindle. The question for the mammoth book retailer was whether they should dig in their heels and fight ebooks which threatened to cannibalize their hard copy book sales. Jeff Bezos was savvy to the Innovator’s Dilemma and chose to lead in ebooks. Today Amazon controls 67% of…