This site uses cookies to improve your experience. To help us insure we adhere to various privacy regulations, please select your country/region of residence. If you do not select a country, we will assume you are from the United States. Select your Cookie Settings or view our Privacy Policy and Terms of Use.
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Used for the proper function of the website
Used for monitoring website traffic and interactions
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Strictly Necessary: Used for the proper function of the website
Performance/Analytics: Used for monitoring website traffic and interactions
According to the 2025 In-House Legal Budgeting Report from Axiom and Wakefield Research, 96% of general councils said they expect “AI will meaningfully reduce costs within their legal department.” As we step into 2025, we’ll continue to experience technological evolution at an unprecedented pace that will reshape how law firms operate.
Learn how big tech has changed the legal industry Free Guide The Small Firm’s Guide to Big Tech While any change in how you operate your law office can feel overwhelming, there’s never been a better time to start migrating your office structures online. In a competitive legal world, AI is a winner.
The good news is that legal tech programs can prove valuable in helping you manage and protect your law practice. The Rise of Legal Tech and the Evolving Law Firm. Fueled by increasing investor interest and client demand, legal tech is on the rise. Simply, the traditional practice of law is rapidly modernizing.
Litera CEO Avaneesh Marwaha Generating first drafts of legal documents. Managing contract redlines and coordinating revisions. In the age of generative AI, the biggest legaltechnology use cases often focus on streamlining the tasks routinely performed by junior associates. Surfacing hard-to-find data.
Artificial intelligence tools have become prevalent in legal practice, particularly in eDiscovery. That doesn’t mean, however, that law firms and litigation support teams have been quick to embrace them. Despite their benefits, many legal organizations have been hesitant to implement AI tools. AI Hesitation.
Theyre structured around vendors showcasing their latest products, and while there are educational sessions, the core focus is technology demonstrations and sales pitches. Companies showcase the latest gadgets, AI-powered solutions, and futuristic concepts that are on or will soon hit the market. the real raison detre is products.
Two trends in the legal market provide an answer: automation and utilization of legaltechnology and service providers. A host of highly practical, legal-specific do-it-yourself technologysolutions have emerged in the past few years, and many are designed and priced to meet the needs of very modest-sized practices.
The evolution of legal tech was seeded when LexisNexis introduced the red “UBIQ” terminal in 1976 to help lawyers simplify the task of searching case law. Since then, the industry has witnessed constant inventions and upgrades in tandem with the ever-changing needs of global legal professionals. Legal AI in the early years.
Last month, we announced the launch of the LawNext LegalTechnology Directory , which we hope will become the most trusted source of legal tech products in the market. ” Wolters Kluwer Passport , “legal spend, matter management, and insurance claims defense applications connect every part of your legal ecosystem.”
The legal industry is steeped in tradition and established processes. While they will continue to serve lawyers and law firms, modern clients demand innovation. Law firm innovation must become a foundational part of your business strategy if you want to thrive in the legal environment of tomorrow.
This is why legal project management is turning into a field of its own, innovating industry-specific techniques for improving client service and efficiency, in ways that increase client involvement and transparency. As law students, few litigators imagined themselves transitioning into project management roles after passing the bar.
Litera’s strategic vision — sometimes more like a mythic quest — involves building the ultimate end-to-end law firm software empire and the company is always on the lookout for providers offering unique technologies that fit into the overall mosaic. For Litera, this acquisition looks to bolster firm-wide connectivity.
Stephan Werthauer is a Senior Consultant/Trainee Solicitor at D2 LegalTechnology, a global legal data consulting firm. We recently caught up with Stephan to find out insights on working within the legaltechnology industry, what he does on an average day, and his advice for those wanting to take a similar career path.
Managed service providers can provide small firms with the technology strategies and solutions usually reserved for large firms with in-house IT teams. Over the course of the pandemic, lawyers and staff at large law firms have confronted many of the technical obstacles and frustrations that small firm owners deal with all the time.
Contract lifecycle management (CLM) has become a hot topic in the legal space; a must-have solution for CXOs looking to get a handle on their legal agreements. Given the shift in legal automation, the adoption and implementation of contract management solutions are gaining significant ground.
Want to know what kind of year this has been for legaltechnology companies? The company, which provides AI-driven contract management, is today releasing a year-end report that reveals that it has doubled both its revenue and headcount in 2021. It would be naïve to suggest that every legaltechnology company thrived this year.
By streamlining complex processes and enhancing accuracy, AI is not only optimizing how legal professionals work but also redefining outcomes. Artificial Intelligence (AI) is revolutionizing the legal world, transforming key practices including case reviews, legal research, contract analysis, and predictive analytics.
I sat down with Dr. Don Billings , a long-time colleague, who knows just about anything one needs to know about legaltechnology and beyond. My comprehensive expertise spans various managerial, legal, and computer science-related disciplines. By leveraging AI technology, tools such as BriefPoint.ai
How a veterinary services provider optimized contract workflows with Bloomberg LawContractSolutions. The post Managing A High Volume Of Acquisitions With A Lean In-House Team appeared first on Above the Law.
The post Digital Transformation for Law Firms: A Guide to Modernizing Your Practice appeared first on Rocket Matter. Big tech changed the game in how we run our everyday lives, so stay up to date with the latest available software solutions to keep clients happy. The answer is simple: a lack of digital transformation in law firms.
Given this, an understanding of the legaltechnology landscape is critical as data-driven legal leadership requires the real-time transparency, data analytics, and visualization that modern, fit for purpose legal tech enables.
In this guide, we’re breaking down what attorneys need to know about legaltechnology, including: . A brief overview of legaltechnology . Different types of legaltechnologies and their benefits . Emerging legaltechnology trends to prepare for . What is LegalTechnology? .
LegalOn , a company that was already one of Japan’s largest providers of AI contract review technology when it launched into the U.S. Even for companies that already have their own collections of contract templates, LegalOn’s templates address nuances that their own may not, Lewis said. ”
The LegalTechnology Resource Center ’s Women of Legal Tech initiative is intended to encourage diversity and celebrate women in legaltechnology. Collaboration solutions and AI in contracting. What advice would you give to other women who want to get involved in legal tech? Innovator.
The product listings continue to grow in the LawNext LegalTechnology Directory , which we launched in February. “Led by the world’s fastest and most accurate patent drafting and proofreading solution, Patent Bots is a suite of innovative software tools that leverage AI and big data to simplify patent prep and prosecution.”
Legal professionals agree that the pandemic accelerated the critical role of technology in the future success of their law firms and legal departments, but only a third believe their organizations are well prepared for addressing technology’s increasing importance. It polled 700 legal professionals across the U.S.
Priori Legal , a marketplace for in-house legal teams to find and hire outside counsel, is expanding to also serve as a marketplace for legaltechnology and alternative legal services providers. Factor , the alternative legal services provider that describes itself as delivering complex legal work at scale.
Furthering its expansion beyond legal research and into other products aligned with legal professionals’ day-to-day workflows, Bloomberg Law has acquired Dashboard Legal , a project management and collaboration platform specifically designed for the legal market.
Let me give you an example: A couple of months ago, my client, one of the biggest law firms in the world, called me and told me they wanted a “Professional Development Innovative Specialist.” I had no idea what this was, who hires, what industry it was in much less why it belonged in a law firm. Starting next week??? Seriously??
Legal matters defined In corporate legal work, a legal matter is any issue, project, or dispute subject to laws and regulations that requires legal resolution. Traditionally, the term has been defined narrowly, focusing on major tasks like contract negotiation, dispute resolution, and regulatory compliance.
For the contemporary lawyer, legal automation is playing an increasingly integral role. In fact, according to the International LegalTechnology Association’s 2019 Technology Survey, automation was among the top three technologies that respondents said would be a “major factor in the legaltechnology profession” moving forward.
AI is expected to automate nearly half of legal tasks in the US and Europe. Several legaltechnology trends are set to reshape how law firms operate. According to a Goldman Sachs report , AI is expected to automate nearly half of legal tasks in the US and Europe.
The acquisition will strengthen KLDiscovery’s Managed Document Review and enhance the Company’s contract lifecycle management offering. Christopher Weiler, CEO of KLDiscovery, welcomes Aditya Mirza, CEO of Cenza, into the KLDiscovery family. KLDiscovery Inc. (“KLD”),
Which Technology Is the Best Fit for Your Law Firm? As with most professional service providers, legal professionals have a tendency to fall into the “If it ain’t broke…” camp. It’s a big part of the reason why many law firms have historically been slow to adopt new technology.
As more and more legaltech companies add their product listings to the LawNext LegalTechnology Directory , which we launched in February , I am periodically featuring the latest listings. “Quickly and easily plot deeds, tracts and legal descriptions by entering metes and bounds descriptions. . ” HotDocs.
Ever since we launched the LawNext LegalTechnology Directory , which debuted in February , I am consistently fascinated to see the products that get added. As closely as I follow legal tech, I always discover products that are new and interesting. Developed by attorneys for law firms. RazorLex , RazorCube and Razor365.
Even (especially) if you’re in a small law firm, chances are high that your passwords are exposed on the dark web and waiting for the highest bidder. Can you imagine the havoc a data breach would create for your solo practice or small law firm? Solo and Small Law Firms Are Preferred Targets. Would you want to know?
Contract lifecycle management (CLM) has become a hot topic in the legal space; a must-have solution for CXOs looking to get a handle on their legal agreements. Given the shift in legal automation, the adoption and implementation of contract management solutions are gaining significant ground.
Last December, LegalOn , one of Japan’s largest providers of AI contract review technology to corporations and law firms, announced its expansion into the U.S. and as it does, it is releasing a new feature, AI Revise, which it says is the “first AI contract editing tool enhanced by expert legal knowledge.”
AI-powered contract review tools can enhance a lawyer’s efficiency by 34% and productivity by 51.5% – according to a study by Onit. This is clear evidence of how AI application in legal operations can benefit a legal team and the organization. Investing in legaltechnology is on a steady rise.
LAWCLERK , an online marketplace where attorneys and law firms can hire freelance lawyers and virtual associates, is expanding its hiring options today with the launch of its Hourly Associate program, designed to allow law firms to hire freelancers on a more-flexible hourly basis rather than by a discrete project or longer-term subscription. .
We’ve compiled a list of some of the best companies in the world that operate in the contracts space and leverage the power of artificial intelligence (AI) and machine learning (ML). AI and ML help increase the speed and accuracy of the various processes within contract management, but at just a fraction of the manual cost.
Google’s Local Services Ads can be both effective and economical for generating leads for certain types of law practices. With the integration, a law firm can sign up for a Local Services Ads account, manage its account, set up and run ad campaigns, capture new leads, and measure campaign performance, all from within Clio Grow.
In Japan, the legaltechnology company LegalOn , which has operated there under the name LegalForce, is one of the largest providers of AI contract review technology to corporations and law firms, with more than 3,000 customers, 400 employees and $131 million in fundraising, including $101 million this year.
We organize all of the trending information in your field so you don't have to. Join 99,000+ users and stay up to date on the latest articles your peers are reading.
You know about us, now we want to get to know you!
Let's personalize your content
Let's get even more personalized
We recognize your account from another site in our network, please click 'Send Email' below to continue with verifying your account and setting a password.
Let's personalize your content