Technology
AI contract review innovator raises $10m
AI contract review specialist ThoughtRiver has secured a $10m (£7.5m) investment from venture capitalists to expand its presence around the world, with extra spending in the US and South-East Asia.
Staff the main risk as firms report millions stolen by cybercriminals
Most incidents of cybercrime suffered by law firms are due to individual errors and misunderstanding rather than systems being hacked, research by the Solicitors Regulation Authority has found.
Law firm uses clause game to train AI
A commercial law firm is recruiting players to take part in the latest round of an online game to train an artificial intelligence tool which helps lawyers draft contracts.
Lawtech start-up focused on security raises further £1m
A lawtech start-up specialising in identity and source of funds checks for conveyancers has attracted high-profile investors including the co-founders of Funding Circle in raising £1m.
Will-writing entrepreneur obtains “first digital LPA”
The founder of will-writing software firm WillSuite has obtained what he believes is the first ever digital lasting power of attorney. He said the process took five months.
Law firm offers clients behavioural science consultancy
A global law firm has launched what it believes is the legal industry’s first offering focused on behavioural science, aimed at helping clients make better decisions in areas like compliance.
Another big investment in alternative legal services providers
Investment in alternative legal services providers stepped up yesterday after a US private equity company took a majority stake in Factor, the managed services firm that used to be part of Axiom.
Government set to mandate online probate applications
Solicitor and other probate practitioners will have to apply online for grants of probate or letters of administration, under government proposals published today.
Lawtech firm eyes global push after raising £6m
A lawtech business set up by a former City solicitor and his programmer brother is looking to expand further internationally after raising £6m in private equity funding.
Australia uses AI to help separating couples split assets
The Australian government has launched a A$3m (£1.6m) online platform which uses artificial intelligence to help separating couples divide up their property.
Blog
Change in regulator shouldn’t make AML less of a priority
While SRA fines for AML have been climbing, many in the profession aren’t confident they will get any relief from the FCA, a body used to dealing with a highly regulated industry.
There are 17 million wills waiting to be written
The main reason cited by people who do not have a will was a lack of awareness as to how to arrange one. As a professional community, we seem to be failing to get our message across.
The case for a single legal services regulator: why the current system is failing
From catastrophic firm collapses to endemic compliance failures, the evidence is mounting that the current multi-regulator model is fundamentally broken.
