A web-based service which uses artificial intelligence (AI) rather than lawyers to give business clients crucial information about their contracts – and already works with Deliveroo – has secured a second round of funding from high-profile investors.
There is a big gap in the way partners and fee-earners at medium-sized law firms view where they work, including “an exaggerated sense of progressiveness among decision-makers”, a new report has found. Partners were far more confident than fee-earners that their firm had a “clear strategy for the future”.
Barristers who outsource work must not “ask for or accept” any payment from third parties, the Bar Council has warned. However, third parties can “for commercial reasons” offer services to barristers at lower than normal rates, so long as the “entire benefit” is passed to lay clients.
Commercial law firms have a limited “window of opportunity” to adopt new delivery models which is unlikely to “remain open forever”, a report has warned. Jomati Consultants also revealed that four City firms are on course to receive almost £8m in government grants as a result of opening low cost centres.
More than three quarters of general counsel lack separate budgets for process and technology services, despite exactly the same percentage identifying a “compelling need” for them, a survey has found. “To have a compelling need, but have no budgetary control is potentially ‘creek, canoe, no paddle’ territory”, it said.
The legal profession of the future is going to be younger, Neville Eisenberg, managing partner of City law firm Berwin Leighton Paisner (BLP), told the Global Law Summit in London today.
An entrepreneur has revealed plans to combine a claims management company, a consumer website and the clinical negligence department of a top 100 firm to form a market-dominating alternative business structure.
Barrister entrepreneur William Rees has launched an online drafting service aimed at mainly at solicitors in small firms. The business provides “customised templates”, which aim to be more tailored to lawyers’ requirements and individual cases than traditional precedents.
Specialist knowledge and expertise are more important than price or consistency of delivery for law firms choosing an IT supplier, research has found.
City law firm Berwin Leighton Paisner has launched Streamline, a “process improvement service” designed to cope with the legal challenges of big construction projects and complex or high-volume commercial litigation.