Hosted by author and entrepreneur, Steve Glaveski, Future Squared brings you conversations with preeminent thought leaders from myriad disciplines such as startups and entrepreneurship, technology, corporate innovation, psychology, philosophy, economics, politics, biology, human performance and productivity, motivation and self-development, management and leadership, health and fitness and more to help you think in a multi-disciplinary way, avoid relying on the first piece of information that comes to hand, kick goals in your professional and personal life and better navigate what is fast becoming, a Brave New World. Previous guests include thought leaders such as Adam Grant, Brad Feld, Tim O'Reilly, Gretchen Rubin, Kevin Kelly, Jeremy Heimans, Steve Blank, Neil Patel, Rand Fishkin, Jordan Harbinger, Omar Zenhom, Andreas Antonopoulos, Ryan Blair, Whitney Johnson and various other thought leaders...
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Episode #103: How Legal Teams Can Enable Corporate Innovation
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Corporate legal and compliance (L&C) teams are usually considered the very antithesis of corporate innovation. The perennial “no” amidst a wide-eyed crowd enthusiastic with the prospect of shaking up the status quo and creating something new.
It is not without reason.
Established organisations have all implemented systems, processes and recruited people to keep the business afloat and keep it delivering on a repeatable and scaleable business model.
For organisations in industries such as healthcare and financial services, this goes one step further to ensuring that the delivery of this business model does not contravene any governing regulation.
While startups can often avoid the attention of regulators while they are small but as they find traction, grow and become more profitable, is is far more likely that they will capture the attention of regulators, as UBER and Airbnb discovered during their growth curve. The cost can often be hundreds of thousands if not millions of dollars in penalties, reputational damage, loss of business and worst of all a suspension or revocation of license to operate.
So how then do organisations with regulators watching over their every move run experiments to test new ideas, a process fundamental to the science of innovation?
Listen to this episode to find out!
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