Aug 23, 2018
Dr. Richard Granat is a legal rebel, virtual lawyer, teacher and now incubator to legal tech companies through Law Media Labs. He shares his entrepreneurial journey and advice for legal tech startups in this ETL Podcast with Co-Host Dan Lear.
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Links and Resources from this Episode
- For additional information go to https://abovethelaw.com/legal-innovation-center
- http://www.lawmedialabs.com/about/
- https://www.linkedin.com/in/richardgranat/
Show Notes
- The start of Richard's entrepreneurial legal journey. Founding the first access to justice program of it's kind assigning law students to civil rights cases.
- The importance of "self-awareness" for legal entrepreneurs.
How potential B2C demand is limited by regulation - the issue (and opportunity) of legal services today only serving the top 20% of the public. - Investing in the first paralegal school in the US, and the first litigation support software approved by the ABA.
- The impact of the microcomputer - raising money in the early 1990s to develop early legal automation software.
- The difference between the VC process in the 1990s and today - a relationship process vs. a systematic process.
- How VCs today have funding down to a science and look for strong teams.
- Using Myers Briggs to determine lawyer personality types - why some solo practitioners should not become legal entrepreneurs.
- Founding the first state law form library during the Internet boom.
- Why the B2C space demands more capital to build strong brands.
- Richard's decision not to take outside money to retain flexibility. On being happy to run smaller enterprises vs. dealing with managing businesses at scale.
- Law Media Labs - Richard's latest venturing helping to incubate, advise and mentor the next generation of legal tech entrepreneurs.
- The inevitable future of automated legal advice, predicative systems, AI and Deep Learning. Software eats everything - and the shrinking of the profession.
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