AIFC Lawtech advisory council
FORTNIGHTLY LEGALTECH DIGEST
ISSUE No.15
ISSUE No.15
Stay updated, stay informed about legal technology news and events with AIFC LawTech Advisory Council's Fortnightly LegalTech Digest
LEGALTECH NEWS & ARTICLES
Legaltech startup Lupl secures $14m funding ahead of full launch this year
Legaltech startup Lupl has secured a $14m funding round and appointed a new CEO as it moves towards its full launch later this year.
The latest round takes the amount of overall cash raised to more than $25m, with more than 500 firms and corporate legal departments on the waiting list since it started beta testing last March, according to the startup, which attracted considerable interest when it unveiled its product in May 2020.
Source: The Global Legal Post
The latest round takes the amount of overall cash raised to more than $25m, with more than 500 firms and corporate legal departments on the waiting list since it started beta testing last March, according to the startup, which attracted considerable interest when it unveiled its product in May 2020.
Source: The Global Legal Post
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Why Legal Technology Is Inevitably Moving to the Cloud
Lawyer Monthly hears from Brian Mauch (BCOM LLB), CEO of BMC Networks, on the cloud and its advantages and drawbacks for the legal sector.
I have been involved in legal technology since 1993. I was the first student at my law school to bring a laptop to class, and used a dial-up modem to search precedents on QuickLaw – which was anything but. Instead of practicing law, I started a consulting business that provides an outsourced IT department for law firms. Over the last 27 years, I have seen the adoption of internet-based legal tools grow from email, to web-based research, and now to cloud servers and applications.
Source: Lawyer Monthly
I have been involved in legal technology since 1993. I was the first student at my law school to bring a laptop to class, and used a dial-up modem to search precedents on QuickLaw – which was anything but. Instead of practicing law, I started a consulting business that provides an outsourced IT department for law firms. Over the last 27 years, I have seen the adoption of internet-based legal tools grow from email, to web-based research, and now to cloud servers and applications.
Source: Lawyer Monthly
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Legal Technology LL.M.s help Students Succeed as Digital Lawyers
The key asset that digital lawyers possess is not technology, but their mindset.
The coronavirus pandemic has exposed the risk lawyers face if they are not clued up on technology — when Covid-19 struck in March 2020, many lawyers were scrambling to find paper copies of their clients’ supply contracts, often hidden away in company offices.
Lawyers today need to be much more than familiar with technology: they need to use it daily to innovate legal services.
Source: LLM Guide
The coronavirus pandemic has exposed the risk lawyers face if they are not clued up on technology — when Covid-19 struck in March 2020, many lawyers were scrambling to find paper copies of their clients’ supply contracts, often hidden away in company offices.
Lawyers today need to be much more than familiar with technology: they need to use it daily to innovate legal services.
Source: LLM Guide
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Simple tech tools transform lawyers’ work
From virtual reality collaborations to robots that write contracts, some of the technology being adopted by lawyers is surprising to many in an industry known for traditional ways of operating. Yet it is probably the fast growing use of more basic tools that is most transformative of lawyers’ lives during the pandemic. Three trends have led to a seismic shift in digital lawyering that has been exacerbated by lockdowns, says Sergio Letelier, general counsel for M&A at Hewlett Packard Enterprise. They are: greater familiarity with the digital world; proliferation of big data; and big improvements in legal technology.
Photo: Getty Images/iStockphoto
Source: Financial Times
Photo: Getty Images/iStockphoto
Source: Financial Times
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Chinese Experts Will Become Leaders in Global Legal Technology Innovation and Development
In the past few years, the legal industry has undergone tremendous changes. Legal professionals have witnessed the rise of legal technology represented by legal Internet, legal big data, legal artificial intelligence and other technologies. Over the past ten years, the number of global legal technology listed companies has exploded, from 15 in 2009 to 1,164 in 2016, and to more than 1,200 in 2018. Their business is mainly concentrated in nine areas such as online legal services, electronic forensics, practice management software, intellectual property/trademark software services, artificial intelligence legal technology, litigation finance, legal search, lawyer recommendation, and notarization tools.
Source: Yahoo News
Source: Yahoo News
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Ahmedabad: Legal-tech startup on hiring high
One of the worst after-effects of the Covid-19 pandemic on the economy was perhaps the loss of jobs and consequently shrinking workforce. Bucking the trend of laying-off employees, Ahmedabad-based legal-tech startup, Legalwiz.in didn’t just begin hiring in November, it is in fact, looking to double its workforce by financial year 2021-22. The startup currently serves at least 5,000 firms across India, aiding them in legal, financial and taxation-related compliances.
Source: Times of India
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As Demand for Legal Technology Increases in the Asia-Pacific Region, ContractPodAi Opens First Office in Australia
ContractPodAi®, the award-winning provider of AI-powered contract lifecycle management (CLM) solutions, today announced the opening of its first office in Sydney, Australia, to further accommodate business growth in the Asia-Pacific (APAC) Region. Building on its strong operational presence in India, ContractPodAi's new Australian office focuses on bringing the world class CLM technology to the region. ContractPodAi is one of the few global CLM companies, providing a true end-to-end solution, to have a physical presence in Australia.
Photo: FN Arena
Source: PR Newswire
Photo: FN Arena
Source: PR Newswire
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First Mover Advantage
Leading industry figures tell Joanna Goodman what it takes to leap off the traditional career escalator into the fast-expanding world of legal innovation.
While the pandemic has forced technology adoption, it has increased uncertainty for law firm associates, making the traditional path to partnership less clear. Remote working creates difficulties for on-the-job training – you cannot easily shadow a partner who is working from home. And job security is challenged too. The past few months have seen salary and partner distribution cuts. Scores of leading UK firms have made or are making redundancies, which include associates.
Source: The Law Society Gazette
While the pandemic has forced technology adoption, it has increased uncertainty for law firm associates, making the traditional path to partnership less clear. Remote working creates difficulties for on-the-job training – you cannot easily shadow a partner who is working from home. And job security is challenged too. The past few months have seen salary and partner distribution cuts. Scores of leading UK firms have made or are making redundancies, which include associates.
Source: The Law Society Gazette
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UPCOMING LEGALTECH EVENTS
from February 8 to 10, 2021
The 11th Annual Innovating Justice Forum
As the world struggles to cope with the coronavirus pandemic, the economic downturn, and social and political upheavals, pressure on justice systems is mounting to deliver more and better justice. The justice that the world is seeking needs to be user friendly - accessible, affordable and easy to understand. How can the justice leaders, innovators, investors and those wanting to solve the justice problems create these solutions? These are the questions that gamechangers help answer.
Gamechangers are sustainable and scalable opportunities that can bring solutions to people for their most pressing justice needs. Based on over a decade of working with justice innovations, HiiL has gathered significant insights into the kinds of justice services that can become real Gamechangers.
Gamechangers are sustainable and scalable opportunities that can bring solutions to people for their most pressing justice needs. Based on over a decade of working with justice innovations, HiiL has gathered significant insights into the kinds of justice services that can become real Gamechangers.
Source: HiiL
| MORE DETAILS |
February 8-12, 2021
CLI-ALPMA Innovation and Legaltech Week
CLI and ALPMA have partnered on this FREE virtual event which they hope will empower the legal community to develop the agility and know-how needed for sustained and continuous improvement.
Taking place over 5 days, with streamed content across the areas of Leading Change, Reinventing Legal Business, People and Client Experience plus a full-day virtual workshop focusing on building the next legal business, you choose your own program to suit your need.
Unlike physical conferences where you can end up sitting through content you just don't need, the CLI-ALPMA Innovation and Legaltech Week 2021 is delivered entirely online.
Taking place over 5 days, with streamed content across the areas of Leading Change, Reinventing Legal Business, People and Client Experience plus a full-day virtual workshop focusing on building the next legal business, you choose your own program to suit your need.
Unlike physical conferences where you can end up sitting through content you just don't need, the CLI-ALPMA Innovation and Legaltech Week 2021 is delivered entirely online.
Source: CLI-ALPMA
| MORE DETAILS |
11th February at 15:00 – 16:00 (GMT)
Building Robust IT
This virtual roundtable will be themed around technological transformation and innovation, with a particular focus on robust IT which develops as firms grow and innovate.
The speakers will review the pitfalls that can be easily made, and what steps should be taken to ensure the best solutions are implemented for digital transformation and better alignment with clients.
The speakers will review the pitfalls that can be easily made, and what steps should be taken to ensure the best solutions are implemented for digital transformation and better alignment with clients.
Source: NetLaw Media
| MORE DETAILS |
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