Pro Bono News
Florida Supreme Court Could Make Florida A "LegalTech" Hub (FL)
Thursday, August 30, 2018
- Evolve the Law
Florida Supreme Court Could Make Florida A "LegalTech" Hub
"Companies that disrupt established industries do so with new business models and technology that can often place them in a “gray area” with respect to existing laws and regulations. Uber is a well-known example that has been thriving in this gray area for some time—primarily by classifying itself as a technology company, rather than a transportation company, to sidestep seemingly applicable regulations.
Our laws and regulations are in a never-ending race to catch up with ever-shifting changes wrought by technology. But as much as this is a challenge, it also presents a unique opportunity.
States are constantly competing with one another to attract new businesses to their communities. In fact, the sole mission of economic development organizations is to identify, recruit and incentivize companies to relocate and open offices in their respective states.
If we look back at some examples, Delaware became a place for business by offering companies predictability with their corporate laws. Connecticut and Iowa created favorable regulations to attract insurance carriers. South Dakota has lured credit card companies with favorable consumer lending laws. And more recently, the legalization of cannabis has driven economic growth in Colorado and other states.
Florida appears to have a similar opportunity with legaltech..."