The following is an excerpt from MWB attorney Tom Grella’s article “Innovation…for the Rest of Us” in the September/October 2019 issue of Law Practice Magazine pages 64-65.
The first step in our process of considering the importance of innovation was to define exactly what innovation is and the difference between that term and “invention.” We decided that innovation does not have to be universal but can be defined as specific to our firm, its market and the position it holds in those markets, while focusing on the specific needs of our firm members, our firm as a business organization and the communities and clients we serve. Therefore, innovation will normally include any meaningful improvement or change that helps us serve those specific needs.
As we better defined what we mean by innovation, we agreed that for most firms, including ours, innovation does not require that we invent some new delivery method or mechanism. Of course, it is possible that innovation might, on occasion, involve coming up with something totally new and inventive to the profession. In most cases, however, we realized that innovation for our firm would entail implementing meaningful improvements that are new to our firm and which, in fact, might be ideas we borrowed from others. Having determined meaning and intent, we next had to decide how to execute.
Read the full article here.
Tom assists clients with business and commercial real estate needs. He has an extensive background in real estate and commercial transactions and represents clients in many different fields and industries. He helps clients with the formation of multi-owner developments and communities — including condominiums, traditional planned community subdivisions and HUD apartments; transactional representation in the purchase and sale of businesses; the formation of corporations, LLCs and partnerships; commercial leasing; corporate representation of medical practices; and preparation and review of business contracts. Tom is determined to provide his clients with responsive, concise and practical legal advice. He chaired the firm’s Management Committee for 12 years and has authored books on strategic planning and leadership. He has a passion for helping others in the leadership of their own organizations.