Technology
ABS gives away software tool to help companies check contracts for Brexit impact
Innovative alternative business structure Radiant Law has created a Microsoft Word-based tool to help in-house counsel check the impact of Brexit on their commercial contracts – and is giving it away for free. Meanwhile, magic circle firm Clifford Chance has struck a deal with artificial intelligence software provider Kira Systems.
Boost for TheLinkApp as Knowles joins advisory board
Sir Nigel Knowles, the former global co-chairman of DLA Piper, has joined the advisory board of The Link App, the communications application for law firms and their clients created by former The Apprentice candidate Lauren Riley.
Advice sector to use e-mail to engage “army of City lawyer volunteers”
E-mail could be employed to harness “a whole volunteer army” of City law firm volunteers to the aid of Hackney Law Centre and other advice centres beyond the capital, according to a report on digital solutions that also suggested a series of apps that could help clients navigate the advice system.
Veyo loss hits £11.4m, accounts reveal
The Law Society’s failed conveyancing portal Veyo recorded a loss of £11.4m in its last financial year, with rival product Free2Convey the cause of its demise, according to newly published annual accounts. Some £6.8m of the loss was put down to research and development expenditure, with a further £743,000 on 10 staff.
Hackathon aims to “harness technology to improve access to justice”
A legal hackathon is to be held north of the border as part of a push to stimulate lawtech innovation among Scottish law firms and promote the use of technology in improving access to justice. Two broad challenges will be presented in the hope that technological solutions emerge, such as mobile phone or computer apps.
Online legal document firm creates “dementia-specific” lasting power of attorney
A business specialising in legal documents has created a web-based, dementia-specific lasting power of attorney that it claims is far superior to the online LPA provided by the government. Net Lawman has teamed up with the Alzheimer Society-backed dementia support website Unforgettable.org to distribute the LPA.
Digital legal services for low-income clients “close to tipping point”
The digital delivery of legal services in England and Wales to people formerly on legal aid could be at the cusp of a “tipping point”, according Britain’s foremost researcher into online law, Professor Roger Smith. He also predicted that high street law firms would be increasingly vulnerable to website-based national brands, as retailers have been to Amazon.
Niche contract ABSs aim to rewrite the rules
Two separate alternative business structures specialising in commercial contracts went live today – each offering clients a non-traditional alternative to corporate law firms. Wavelength.law makes sophisticated use of new technology, while Ember Contract Solutions is part of a management consultancy.
Solicitor launches website to help SMEs and consumers access unbundled advice
A Yorkshire solicitor has launched a website to help small businesses and consumers obtain fixed price unbundled advice. James Martin, founder and director of ClaimItOnline, launched today, said the website was particularly aimed at small businesses with disputes worth up to £50,000.
Online Court will include “limited” legal costs to aid unbundled advice, says Briggs
The new Online Court will not “ban lawyers” and there will be “a very limited element of fixed costs” so litigants can get initial legal advice, Lord Justice Briggs has said. He said the top limit for claims in the Online Court “may have to start at £10,000”, rather than £25,000.
OECD urges competition bodies to help open up legal markets to disruptive innovators
Regulation of lawyers across the developed world is under pressure from technological and other disruptions, and national competition authorities should seize the opportunity to guarantee market access for new entrants, the OECD has advised.
Free2Convey to relaunch “within weeks”
Free2Convey, the conveyancing portal designed as a free rival to the Law Society’s failed portal Veyo, is to relaunch itself to conveyancers, estate agents and the public “within weeks”, it has emerged. Matt Lancaster, who has led work on the portal, said he hoped it would be used by most conveyancing firms by the end of this year.
ReviewSolicitors to target law firm investors through crowdfunding
A legal rating and review website, set up last autumn by the former chief operating officer of QualitySolicitors, is to launch a crowdfunding bid next month targeting law firms. ReviewSolicitors wants to raise at least £150,000 from 50 law firms.
Major law firm adopts Watson-based AI research tool
ROSS Intelligence, the artificial intelligence legal research technology built on IBM’s Watson cognitive computer, has announced its first commercial partnership with one of the largest law firms in the US.
Riverview launches first ‘virtual assistants’ to start process of reducing need for lawyers
Riverview Law’s ground-breaking development of technology for use by in-house counsel and others in the law this week saw the launch of its first two ‘virtual assistants’. Powered by the alternative business structure’s ‘Kim’ technology platform, they cover instruction and triage, and general case management.
Blog
Is it time to change how law firms view compliance?
Although COFAs often hold senior positions and play an essential role in a firm’s financial and regulatory integrity, the perception of the compliance function itself is still evolving.
From templates to culture change: Lessons from the SRA on source of funds
The SRA’s new thematic review into source of funds and wealth reveals both progress and persistent blind spots, with source-of-funds checks too often thought of as a procedural hurdle.
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.
