Abstract

Business theory suggests that knowledge intensive professionslike law would devote major attention to knowledge management (KM) activities. Afterall, since a firm's combined knowledge is a key differentiating asset, one wouldexpect the exploitation of that asset to be a high priority. Yet new lawyers are oftensurprised at how little of such activities take place within firms. One might also expect tofind rich connections between academic research in knowledge management and law firmsusing that research. The rarity of such connections stands in sharp contrast to thebreadth and depth of use of substantive legal research and analysis. These disappointmentsare not unrelated: a firm that allocates little time to systems for leveraging its intellectualcontent is unlikely to invest in staying up to date with externalresearch relating to such systems.The authors believe that significant progress nonetheless may bemade both in applying KM methodologies to law firm work and better connecting theacademic and practice sectors. To those ends, this article explores three theses: (1)Legal technologists can and should lead by example in utilizing KM tools and methods; (2) Theeconomics of legal practice still pose substantial challenges to even those knowledge technologies considered by some as truly ``disruptive''; and (3) Focussing onareas that could yield a tremendous economic harvest may help forge richer connections betweenthe work being done in academic and practice spheres.