Exploring lawyers’ perceptions of technological development and new business models - An interview study for understanding how lawyers perceive technological development and new technology-based business models
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School of Business |
Master's thesis
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Date
2024
Department
Major/Subject
Mcode
Degree programme
Management and International Business (MIB)
Language
en
Pages
63
Series
Abstract
The development of technology has transformed the way businesses operate and generate revenue. Companies that can effectively leverage new technologies can gain a competitive advantage in the market. Despite the growing importance of technology in the legal profession, little is known about lawyers’ perceptions and concerns regarding technology-based business models, and especially in the Finnish context. This lack of understanding can hinder the adoption of new technologies, rise of new technology-based business models, and limit the potential benefits they can bring to the legal profession. To address this gap in knowledge, the study was conducted investigating lawyers’ perspectives on technological development and technology-based business models. This research was part of Technology, Innovations and Business Models -research project at Aalto University School of Business. The research was carried out in cooperation with an international technology entrepreneur operating in the Nordic countries which offers technology-based legal services. Research data was drawn using semi-structured interviews with 14 lawyers working mainly within civil and business law. The interviews were recorded, and they were analyzed using qualitative and inductive content analysis research methods to identify common concerns and reasons for adopting the technological development. The findings suggest that lawyers have mixed perceptions of technology-based business models, although they see technological development as necessary but also expected in their field. While some see them as an opportunity to improve efficiency, facilitate legal processes and promote the accessibility of legal services, others express concerns about the impact of technology on the legal profession, such as ethical concerns and organizational adaptability concerns. These findings highlight the importance of understanding the underlying concerns and factors which can aid in designing effective strategies and solutions to encourage the adoption of technology and new technology based-business models, leading to more efficient, accessible and effective legal services.Description
Thesis advisor
Turunen, TaijaKeywords
technology, lawyer, law industry, ethics, business models, technology-based platform, technology acceptance model