The transformation of legal contracts into technology-boosted “dynamic modular agreements” has caught the attention of a major investor, which has ploughed $5m (£3.8m) into lawtech start-up Juro.
A start-up aiming to give home buyers access to all the information on their move via an app is set to launch a pilot with several leading software providers – and through them law firms.
The UK legal arm of big four accountant Deloitte has become the latest law firm to launch a tech lab to incubate lawtech start-ups.
Tech is a key element of growth in UK legal services, while investment deriving from market liberalisation and alternative providers increasingly linking up with law firms has strengthened the sector.
Global law firm giant Reed Smith has launched a product that automates the legal bit of online competitions, with lawyers or non-legal consumers able to generate t&cs in multiple languages in compliance with local laws.
Law firms are “way ahead” of in-house lawyers in adoption of legal tech and the latter need to “grasp the nettle”, the chief executive of a start-up which helps corporate counsel manage their workload has argued.
Lawyers’ devotion to billable hour has stopped truly disruptive technology from changing the way legal services are delivered to the public, last week’s Legal Futures Innovation Conference was told.
Arbitration and online dispute resolution should be used when there are disputes about smart contracts, the Chancellor of the High Court has said.
The head of the Criminal Bar Association has outlined her “grave concerns” about algorithmic technology that is being used in the justice system without adequate regulation.
Blockchain and smart contracts were given a major boost yesterday, when the expert panel charged with giving the technology legal certainty declared they should be treated in principal as property.
A Supreme Court justice has called for the creation of an expert commission to act as “a sort of independent regulator” of algorithms, staffed by coding technicians, with lawyers and ethicists.
The Chancellor of the High Court has urged commercial lawyers to prepare for the disruptive impact of technology on the law, the legal system and legal profession before others “steal a march” on them.
Professor Richard Susskind has called for the development of a “standard, adaptable, global platform for online courts” that can be rolled out to fortify access to justice around the world.
The vast majority of major law firms still have significant unaddressed cyber-risk, despite repeated urging by regulators, insurers and others to shore up their defences, according to new research.
A niche alternative business structure working with companies that build the global infrastructure of technology has used it to take on external funding and non-lawyers who can help the business grow.
Nearly half (48%) of the top 150 law firms have reported data breaches since the GDPR came into force in May 2018. And, of those breaches, 41% were a result of emailing the wrong person.