The Harvard Business Review talks about how innovators like Uber and AirBnb became successful and disrupted global markets by ignoring laws and regulations that rapidly became obsolete in contrast to the newest societal needs, creating the so-called “spontaneous deregulation”. Cutting corners gave them a huge, but extremely risky competitive advantage over their precursors from the transportation and hotel industries, which couldn’t afford to do that even if they wanted to.
A Legal Approach to Business Innovation
Now, if a competitor ”enters the market and ignores key regulations, it is natural to seek legal assistance—perhaps through private litigation or by urging a regulator to take action. When violations are clear-cut, this strategy can be effective, if the incumbents and those protected by the regulations unite behind it” and we can help you build a case to protect your business.
However, there are many drawbacks to filing a lawsuit in this scenario, as courts are skeptical of competitors looking to “restore justice” and the process can get lengthy and over-complicated depending on the volatility of the political climate and how a market’s stakeholders can influence lawmakers.
On the other hand, if you are inspired to innovate your area of business, navigating the best course of action within the current legal framework is something we can help you with, while also mitigating for regulations which would reflect the new reality that your innovative service or product is creating. For some people it is easier to ask for forgiveness than to get permission, but we believe we can help you grow your business the right way.