The Innovation Cup

We're looking for ideas that might help you manage risk in your area of private practice as well as technological solutions that could harness your idea. 

To get you started we have assessed common areas of claims against the Master Policy where processes, particularly technology-driven ones, might have made all the difference. 

For example:

• Prior to the settlement of a house purchase, a firm overlooked one of two outstanding securities disclosed in an interim search report and settlement took place on the basis that only one security required to be discharged.
• A firm acted for the seller of a small country estate. The client had clearly specified that she wished to retain a two-acre paddock for future development. Through an internal miscommunication amongst colleagues within the firm, the firm omitted to retain the paddock in the conveyance.
• A firm had made full conflict checks on a pursuer client in a litigation matter but had not checked the defender to the action adequately. It transpired that the defender was a former client which resulted in a conflict of interest allegation.
• After a fee earner left a firm, no-one took over responsibility for a time-critical file. A litigation deadline was missed.

Can you think of technology based solutions that may have prevented these from happening?

Are there other types of problems that a winning Innovation Cup entry could address?

The competition is open to Scottish solicitors, paralegals, trainees, cash-room staff, and student associates.

• Please complete the entry form and return it by email to FionaPaterson@lawscot.org.uk by 12 noon on 30 August 2024.
• Please provide details of the risk(s) your idea is designed to address and how you would use technology to implement it. 
• Entries should be between 500 and 2000 words and can include graphs, pictures, or slides, if appropriate.

2024 Innovation Cup Application Form

Download 2024 Innovation Cup Application Form File

1. The competition is open to UK residents, aged 16 or over excluding employees of the Law Society of Scotland, RSA Group, Lockton Companies LLP and their families or members of the Law Society Insurance Committee and their families.
2. To enter the competition entrants must be either: a solicitor holding a Practising Certificate or a trainee solicitor [to clarify, this includes all in-house solicitors and trainees], staff within a private law firm in Scotland, an accredited paralegal in Scotland or a Scottish law student associated with the Society. 
3. Entries must address the criteria on finding solutions based on technology and artificial intelligence
4. No purchase is necessary.
5. The start date for receipt of entries is 24 July 2024. The closing date is 12 noon on the 30 August 2024.
6. Entries are limited to one per person.
7. Any entry that is lost or misplaced, incomplete or fraudulent, or which otherwise does not comply with these rules, will be disqualified.
8. The winner of the Competition will receive £1500 cash prize.
9. The judges will choose the winners from all eligible entries received. The winning entry will be the one that in the opinion of the judges provides the best idea to improve systems, processes or controls within private practice law firms.　
10. The winning entry will be decided within seven weeks of the closing date and the winner will be notified by email within one week thereafter.
11. Winners may be required to participate in any after event publicity and hereby consent to the use of their names, locations and photographs.
12. All entrants agree to be bound by the terms and conditions of this competition.
13. The decisions of the judges and promoter are final and no correspondence will be entered into.
14. The promoter is The Law Society of Scotland, Atria One, 144 Morrison Street, Edinburgh EH3 8EX.
15. The winning entry will not be returned.
16. By submitting an entry you confirm that the entry is your own original creation and you agree that the promoter may reproduce the entry for publicity in relation to this and other promotions.

17. By submitting an entry, you grant the Law Society of Scotland a licence to copy, develop, exhibit, market, disseminate or otherwise utilise the intellectual property at the Law Society’s sole discretion.

The winning risk management idea will be developed by Lockton, the brokers for the Law Society’s professional indemnity insurance Master Policy and rewarded with a £1,500 cash prize provided by insurers RSA.

The judging panel is made up of members of the Law Society’s Insurance Committee and representatives of RSA and Lockton.