by Traverse Legal, reviewed by Enrico Schaefer - January 29, 2007 - Uncategorized
An entrepreneur is defined as: "someone who organizes a business venture and assumes the risk for it" by Princeton’s WordNet, but the definition of an entrepreneur is much more encompassing than that. An entrepreneur is someone who is always looking for ways to innovate, scouting for new opportunities and ready to mobilize resources at a moment’s notice, according to Dr. Michael Gordon.
The question that arose while reading through his article, was whether or not traditional firms still fit into either definition. Yes, they may have taken a risk back when they were first formed, but now, are they innovating? Are they still scouting for new opportunities?
It is fairly easy to see the line between the vibrant entrepreneurs of today, and those from generations long gone when you survey the field of law. Traditional firms have stopped achieving, stopped exploring, and are content with their own idea of "what works". On the other hand, tech-age firms are continually exploring, testing, and accepting new ways to conduct their business; never tied down by the constraints of tradition.
Throwing off the constraints of tradition is the only way to maintain the title of "entrepreneur" in this new century. In order to call yourself an entrepreneur within the field of law, you have to forsake the chains of the traditional model because it is inherently static, and thus, inherently contrary to entrepreneurship.
A true tech-age firm is anything but static – they are always looking for ways to enhance their business, always renewing how much they deserve the dual-title of "entrepreneur" and "high-tech". We who found and lead tech-age firms are the new entrepreneurs of the legal realm; we are the ones who are carrying this service into the 21st century.
Referenced: "Entrepreneurship Defined", by Dr. Michael Gordon
As a founding partner of Traverse Legal, PLC, he has more than thirty years of experience as an attorney for both established companies and emerging start-ups. His extensive experience includes navigating technology law matters and complex litigation throughout the United States.
This page has been written, edited, and reviewed by a team of legal writers following our comprehensive editorial guidelines. This page was approved by attorney Enrico Schaefer, who has more than 20 years of legal experience as a practicing Business, IP, and Technology Law litigation attorney.
