It has become commonplace to associate innovation with technology, as though the prerequisite for innovating necessarily depended on a technological apparatus. Such a conceptual error lacks theoretical grounding, which leads one to conclude that it is a social construct. From a sociological perspective, it is a socially created, maintained and legitimised fact. In popular parlance, it could be described as an “urban myth”.

One point, however, is unanimous: innovation admits an almost unlimited number of definitions. One of the most widespread maintains that innovation corresponds to the implementation of a new or significantly improved product, good or service. In practical terms, to innovate is to seize an opportunity, one that may be realised with or without capital, with or without know-how, and with or without sectoral regulation or pre-established rules. When these three requirements converge, however, the outcome is particularly robust.

According to Neoschumpeterian Theory, innovation constitutes the driving force of capitalism. The phenomenon emerges from new combinations of productive factors, such as the introduction of a new good, the adoption of an innovative method of production, the opening of a new market, or the creation of a new form of organisation, whether in industry or in the services sector.

In the context of the legaltech boom, resulting from the advent of various technological tools placed at the service of legal operators, a (false) premise has been consolidated: that to innovate means exclusively to incorporate, invest in, hire or develop technology-based platforms. This discourse has crystallised into a kind of mantra, readily reproduced and dangerously amplified. Nonetheless, innovation is not restricted to this paradigm. Significant results may be achieved with simple solutions — and there are many examples to demonstrate this.

The first is the free programme Cooley Go, developed by the law firm Cooley LLP and aimed at entrepreneurs, start-ups and scale-ups. Launched in 2014, it is a platform that provides practical and accessible resources to support businesses at different stages of development, from incorporation to sale or initial public offering (IPO). The platform makes available documents, contracts and business plan templates designed to simplify users’ practice.

The figures are striking: over four million visits from multiple countries and the generation of more than two hundred thousand documents, including the well-known SAFE, a benchmark convertible loan agreement for start-ups, as well as convertible notes, shareholders’ agreements and stock option plans.

With low costs and minimal technological complexity, the programme has established itself as a top-of-mind reference in the start-up ecosystem, while also producing a major impact in terms of lead generation and, above all, the sharing of legal knowledge. Thus, it revives the old Silicon Valley maxim, where the firm maintains one of its main bases: create value to create wealth.

The second example is that of the firm Wilson Sonsini Goodrich & Rosati, which stood out for implementing one of the first freemium legal advisory programmes aimed at emerging entrepreneurs. It is widely recognised that, in the field of innovation, the ability to blaze a trail (often called first mover advantage) is a determining factor for leadership in a given sector. The propensity to take risks with courage is, moreover, highly valued. It is therefore unsurprising that this initiative enabled the firm to attract, at a very early stage, two of the world’s most significant founders: Larry Page and Sergey Brin.

The symbiosis established with the start-up ecosystem was such that the firm launched the SixFifty programme, a spin-off whose name pays tribute to the motorway crossing Silicon Valley, the region where Wilson Sonsini was founded and consolidated its reputation as a reference law firm for technology and venture capital companies. The number also corresponds to the region’s telephone dialling code. It is a simple yet conceptually powerful idea that projected the firm as an unmissable reference in the sector.

Also worthy of note is Fuse, an initiative of A&O Shearman, structured as an internal incubator for legaltechs and fintechs. Its purpose rigorously embodies the essence of the open innovation model applied to the legal sector, standing as an example to be replicated by other global firms.

Finally, LawWithoutWalls deserves mention, its objective being to foster innovation in law through a practical, design-led and collaborative approach. Founded by Michele DeStefano, the programme was presented at Lisbon Law & Tech 2024, and it is highly recommended to watch the related conference available on YouTube.

In summary, it is clear that innovation in the legal sector goes far beyond the mere adoption of technology-based platforms. A strong dose of creativity, combined with originality and an environment conducive to intrapreneurship, enhanced by disruptive minds, creates a scenario of rare intensity: the so-called “perfect storm”.

It is not enough, however, to have vast financial resources or robust budgets to justify innovation, whether radical or incremental. As illustrated, seemingly simple initiatives can generate significant impact and reputational return, provided they are associated with a clear perception of market opportunities and, above all, the unequivocal endorsement of leadership. It is essential that governing bodies foster such practices, ensuring that a culture of innovation is effectively embedded in the organisational DNA.

The famous phrase by Leonardo da Vinci, later appropriated by Steve Jobs and here adapted, is apt: simplicity is the ultimate innovation.