A black swan is an event or occurrence that deviates beyond what is normally expected of a situation and is extremely difficult to predict.
The term ‘black swan’ derives from the story that the English had traditionally defined the word ‘swan’ as a bird that was white. Swans’ whiteness was integral to their ‘swanness’. When the English came to Australia and saw black swans, they were thrown by this completely unexpected event. If swans were by definition white, what was this black bird? It was impossible to have predicted the event of a black swan because of the circumscribed definition of swan.
Author Nicholas Taleb used the term ‘black swan’ in his best selling book. He suggests that we cannot predict the future if we expect the current circumstances to continue on the same trajectory as they have in the past. I think that the legal profession is in such a predicament.