12 Feb LEGAL TECHNOLOGY: HOW DOES IT WORK?
Legal technology, commonly referred to as legal tech, speaks to software and tools that leverage technology to assist law firms, corporate legal departments, courts, government agencies, and legal service providers with common tasks. The overarching purpose is to improve efficiency, quality, access, and delivery of legal services.
There are a wide range of legal tech applications and use cases impacting various aspects of the legal sector:
– Electronic discovery tools expedite the e-discovery process by using predictive coding and analytics to quickly sort through large document sets identifying potentially relevant records. That reduces attorneys manually reviewing thousands of documents.
– Legal research software provides access to vast databases of legislation, case law, articles enablingfaster research. The sophisticated algorithms improve relevancy of results.
– Document automation platforms can auto-generate customized contracts, agreements, motions, legal letters using reusable templates and questionnaires. It automates repetitive paperwork.
– Digital evidence management systems give attorneys secure, cloud-based access to manage case evidence like photos, police reports, videos that can be easily shared with clients.
– Practice management tools assist with common tasks like time tracking, billing, scheduling – freeing up time for client matters.
Streamlining legal workflows using legal technology boosts practice productivity and enables law firms to take on more clients without inflating overhead. Other benefits include tighter data security versus paper files along with easier information sharing between court systems, legal teams, and clients which supports collaboration.
The legal sector has traditionally lagged behind in technology adoption. But given intense competitive pressures and client demands, global spending on legal tech continues rising at over 8% annually. As technology continues transforming how legal services are delivered, lawyers can leverage tools like analytics, blockchain, and artificial intelligence to work smarter – saving time while providing clients with better outcomes. Adapting legal tech strategies focused on improved client service and access to justice will determine those best positioned moving forward in the legal marketplace in the digital age.