Template:Legaltech as rent-seeking: Difference between revisions

Template:Legaltech as rent-seeking (view source)

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-[[Legaltech]] addresses inefficiencies which manifest themselves as negative annuities: ongoing costs and resource drains for quotidian tasks with minimal value. It is generally predicated on the [[vendor]] earning not just a fee, ''but an annuity''. The thought process is this: if customers have an ongoing cost of ''ten'', they will be prepared to pay me an ongoing cost of ''two'' to remove it. Mathematically, unimpeachable logic.
+[[Legaltech]] addresses inefficiencies which manifest themselves as negative annuities: ongoing costs and resource drains for quotidian tasks with minimal value. Its business model is therefiore predicated on the [[vendor]] earning not just a fee, ''but an annuity''. The rationale is this:
+If customers have an ongoing cost of ''ten'', they will be prepared to pay me an ongoing cost of ''two'' to remove it.
+Mathematically, unimpeachable logic.
 But there is a [[paradox]] here: If your [[legaltech]] solution itself generates ongoing labour, soaking up costs and resources to keep working, such that that two represents an honest margin on that ongoing work, then ''itis not legaltech but something else.'' This is more like process-reengineering coupled with [[outsourcing]].<ref>[[Outsourcing]] has its own hidden costs and shortcomings, of course.</ref> That is ''not'' [[legaltech]]. That is [[Management consultant|''management consultancy'']].