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Legal tech trends 2019 report

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The 2019 edition of Dan Storbaek's Legal Tech Report covering top trends including AI, Blockchain, GDPR, Voice Technology, Legal Design and more.

Published in: Law
  • https://www.myadvo.in/advocate-abhishek-dua/ Advocate Abhishek Dua has been providing legal advice and services since 2013 and is an independent lawyer, practicing in various fields of law including Insurance, General Legal, Property Law, Employment and Taxation and Duty. Advocate Abhishek Dua's Bar Council ID is: D/1018/2013.
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Legal tech trends 2019 report

  1. 1. Trends in Legal Tech 2019 Top Trends, Technologies & Examples
  2. 2. Legal Tech Market & Next Steps The Growing Legal Tech Market 2-4 Funding and Investments 5-7 Acquisitions in Legal Tech 8-10 Usage of Legal Tech 11-14 Legal Department of the future 15-16 Legal risks for legal leaders 17 Legal Tech Trends 2019 Report Top 10 Legal Tech Trends in 2019: AI is maturing. We will see breakthrough products 20-24 Voice Assistants is a legal challenge and gift 25-29 Increased Automation in Legal Industry 30-24 BlockChain Interest Reaches Critical Mass in Legal 35-38 Smart Contracts Race Among Law Firms 39-43 RegTech and its Role in Legal World 44-47 Focus on Data Ethics, Governance and GDPR 48-52 E-learning and Gamification 53-56 Managed Legal Services 57-60 Legal Design & UX 61-64
  3. 3. 899 Source: https://angel.co/legal-tech-1
  4. 4. Mapping the Legal Technology Landscape There are many more than listed here, but the map gives an idea of major players in key legal tech niche industries. Source: Legalexecutiveinstitute.com
  5. 5. Biggest Legaltech Funding in the Past Year - 1/2 Source: Lawgeex.com
  6. 6. Biggest Legaltech Funding in the Past Year - 2/2 Source: Lawgeex.com
  7. 7. Legal Technology Investment Booms ● In-house legal department spending on information technology is growing 25% faster than spending by businesses as a whole, according to a new guide to the burgeoning ‘lawtech’ market. ● The LegalTech 2018 Buyer’s Guide, published by Israel-based artificial intelligence business LawGeex, suggests that lawtech businesses are attracting record levels of investment – $49m in January 2018 alone – and are rapidly consolidating. ● The number of companies offering legal AI systems has leapt from 40 to 66 in the past year and the market in legal analytics systems, which extract knowledge from data, is expected to grow four-fold to $1.8bn by 2022. Source: Lawgazette.co.uk and Lawgeex.com
  8. 8. Biggest Legal Tech Acquisitions: eDiscovery Source: Lawgeex.com
  9. 9. Biggest Legal Tech Acquisitions: Contract Management, IP, Document Drafting Source: Lawgeex.com
  10. 10. Biggest Legal Tech Acquisitions: Matter Mangement, E-Signature, Research, Dispute Source: Lawgeex.com
  11. 11. 45% of legal teams report increased usage of legal tech products Forty-five percent of legal departments report increasing usage of legal technology, with the largest increased usage reported by small legal departments (52%) where there are fewer staff available to manage legal work, and large legal departments (63%). Source: SerengetiLaw
  12. 12. 73% of Legal Teams in the Nordics have not appointed a person to be in charge of technology or automation Source: ALTNordic & Experticon
  13. 13. Most Tools Used are Simple Tech - not Legal Tech Source: ALTNordic & Experticon
  14. 14. 26% of legal teams in the Nordics do not have plans to digitize nor automate processes and work Source: ALTNordic & Experticon
  15. 15. ● Over the past 10 years, unprecedented disruptions—including the deregulation of the practice of law and advancements in technology—have been changing the face of the legal sector. ● Law firms have already begun to feel the impact of these disruptions. And corporate legal departments are increasingly being asked to reduce costs and operate more efficiently than ever before. ● Legal is increasingly being integrated into vital business operations instead of being run as an autonomous department. ● In-house legal teams is becoming more like an internal law firm that drives economic value as an internal commercial function. Drivers of Change in the Legal Sector Source: Deloitte
  16. 16. The Legal Department of the Future Source: Deloitte
  17. 17. Top Risks for Legal Leaders ● Accelerating business change. Corporate processes, services and operations are fundamentally changing (fueled in part by digitalization), which creates new risks and makes existing risks harder to manage. Legal and compliance leaders must keep up with persistent change in corporate activities and business models and plan for skill shortfalls within their own teams; ● Digitalization and technology risk. Leaders must keep up with rapid advances in technology capabilities as their organizations digitize assets (i.e., turn them from analog to digital form) and digitalize the business (i.e., use digital technologies to change their business model and provide new revenue and value-producing opportunities); ● Geopolitical and regulatory volatility. Legal and compliance leaders need to provide stability amid ever-present geopolitical volatility — both within and between jurisdictions, regulatory bodies and enforcement authorities — and provide leadership as they manage sweeping new regulations such as those on data privacy; ● Transparency and public expectation. Consumers are keenly focused on issues of corporate culture and ethics amid constant headlines about corporate missteps and individual wrongdoing; Source: Gartner
  18. 18. Top 10 Legal Tech Trends 2019
  19. 19. Top 10 Legal Tech Trends 2019 1. AI is maturing. We will see product breakthroughs in Legal Tech 2. Voice Assistants is a legal challenge and gift 3. Increased Automation in Legal Industry 4. BlockChain Interest Reaches Critical Mass in Legal 5. Smart Contracts Race Among Law Firms 6. RegTech and its Role in Legal World 7. Focus on Data Ethics, Governance and GDPR 8. E-learning and Gamification 9. Managed Legal Services 10. Legal Design & UX
  20. 20. 1. AI is maturing. We will see product breakthroughs in Legal Tech AI has the potential to transform the world. We interact with artificial intelligence on a daily basis. Now It’s time to become a game changer for legal industry.
  21. 21. Almost all Large Law Firms Consider AI if Not Already in Work ● The benefits of AI are primarily faster and more accurate prediction ● Kira systems received a USD 50M series A investment in Sep. 2018. Concord received one on USD 25M in Nov. 2018. ● Today’s AI technology is best at accomplishing narrowly defined tasks and work that are time-consuming and repetitive. While machines can process, store and recall information much faster than people, human lawyers still need to apply critical thinking to that information. ● According to a survey of more than 100 law firms by real estate advisory CBRE, 48% are already using AI software in their businesses and 41% have imminent plans to do the same. ● The survey found 61% of the companies already using AI are doing so to generate and review legal documents. It also revealed 47% are using AI for due diligence purposes and 42% for research. About a third (32%) are using AI to carry out compliance and administrative legal support. Source: Computerweekly.com, Lawtechnologytoday.com, Lexology.com, Deloitte.com
  22. 22. ● Analyzing thousands or millions of documents is time consuming and very expensive. The computerized use of keyword search is too imprecise a tool for extracting relevant documents from a huge pool. As the number of documents to be reviewed for a typical lawsuit increases, the legal profession needs a better way. ● Predictive discovery or predictive coding is a machine-based method that rapidly can review a large pool of documents to determine which are relevant to a lawsuit. ● Predictive coding has been mandated in certain cases following Brown v BCA Trading and others [2016] EWHC 1464 (Ch). Use Case: Predictive Coding & E-Discovery Source: FTJournal.com, Lawsociety.org.uk and recommind.com
  23. 23. ● Finding relevant cases while doing legal research used to be a time-consuming process. Now, AI allows lawyers to ask questions in plain language and get instant answers after the technology reviews resources such as regulations, case law, secondary sources and more. ● AI significantly reduces the time that lawyers spend on legal research. AI solutions, such as Ross Intelligence, can find document and cases in seconds, which would take a human many hours of work. ● Legal tasks performed by new law school graduates, junior attorneys and paralegals can be automated with tools like this. Use Case: Legal Research Source: NYTimes and Rossintelligence
  24. 24. Legal AI Landscape 2018 Source: Lawgeex
  25. 25. 2. Voice Assistants in Legal Operations, Courts, Privacy Complications A brave new world of voice technology is a double edged sword. Your smart voice assistant can be used for many things - also against you in court.
  26. 26. Voice Assistants in Legaltech ● Need to write a legal document without entering the keyboard? Just tell. Want to out how many cases your team handled last month? Just ask. ● In 2017, 30 million voice assistants were sold in the US alone. Amazon’s Alexa and Google Assistant are among the popular ones. ● ComScore predicts that 50% of generic search queries will be from voice by 2020. ● Voice assistants are helping lawyers in their everyday tasks ● There are products with specialized legal vocabulary with million legal words included. ● Voice-to-text processing is powerful, easy-to-use and well-working today. ● Legal professionals can be productive from anywhere. In the car, airport etc. ● Use voice assistance to make meeting notes quickly. ● Most legal products today are text-based. Not voice-based. ● Voice is to a large extend, a brand new channel for companies to learn about their customers through audio-recording and the use of predictive analysis Source: Law.com, Americanbar.org and lawsitesblog.com
  27. 27. ● While voice technology offer great potential for improving quality of life, they also expose users to privacy risks by perpetually listening for voice data and transmitting it to third parties ● Voice technology can create profiles of your whereabouts, habits and interactions. ● For example, what if an employer is tracking employees voice mails for certain words and record these? ● Or what if your voice assistant record what is happening in your home or workplace without your knowledge? ● In October 2018, Turkish officials announced that they have an audio recording of the alleged killing of journalist Jamal Khashoggi from the Apple Watch he wore when he walked into the Saudi Consulate in Istanbul. Voice Technology & Privacy Complications Source: Law.com, Americanbar.org and lawsitesblog.com
  28. 28. ● Thomson Reuters has introduced Workspace Assistant, a new way for lawyers to access and perform time management functions via Workspace using Amazon Echo or other Alexa-enabled devices; ● Workspace Assistant works only with Workspace, an enterprise-level product for large law firms that integrates information from the financial and matter management platform 3E and other Elite and third-party products; ● Workspace Assistant allows lawyers to enter and track billable hours using voice-only inputs. Functions include the input of billable hours to a specific client matter, the use of a timer to calculate and post time spent on a given client matter, and the ability to ask Alexa various questions that relate to billable hours; Use Case: Digital Billing Source: Thomsonreuters.com and lawsitesblog.com
  29. 29. ● Nuance’s Dragon Legal has more than 400 million words from legal documents ● Accuracy is up to 99% on first time usage ● It allows you to automatically create legal documents by voice and without using a keyboard ● Applications providing powerful voice software include Microsoft’s Speech Recognition app, Apple’s Enhance Dictation feature and Nuance’s Dragon Legal software. ● Solutions like this can help to enhance documentation and reporting for a mobile workforce. Use Case: Legal Writing by Voice Source: Nuance.com
  30. 30. 3. Increased Automation in Legal Industry Automation is getting deeper inside the legal industry, jeopardizing the work of lawyers, who can be replaced with lawyer-bots
  31. 31. ● McKinsey estimates that 22% of a lawyer’s job and 35% of a law clerk’s job can be automated. ● As of 2018, there were over 1,340,000 licensed lawyers and 290,000 paralegals in the US alone. ● AI-powered document discovery tools have had the biggest impact on the field. By training on millions of existing documents, case files, and legal briefs, a machine-learning algorithm can learn to flag the appropriate sources a lawyer needs to craft a case, often more successfully than humans. ● These programs are, simply put, changing the way legal research is carried out. ● Document discovery software, or “virtual associate”, is another example of legal automation. ● Many law schools, e.g. Harvard, have created new programs to teach the next generation of lawyers programming and how to use these sophisticated tools. ● Many companies are still far behind on legal and document automation Legal Automation is Indefinite Source: Technologyreview.com and Deloitte.com
  32. 32. Document Automation for In-House Teams● Speed. Creating a contract using document automation takes a few minutes. You can also create a suite of related documents at the same time, based on the same answers. It can also be used, with the right contracts, to allow the business to create a contract without needing to refer to legal; ● Risk management. Unfortunately we all regularly make mistakes. Document automation removes many of those opportunities for errors; ● Better contracts. Template agreements are generally getting longer and more unwieldy. As issues come up in negotiations, points are added to contracts, and it is rare that the template gets shortened; ● Iterative improvements. Document automation has an interesting side effect. When legal teams create or update their templates, they will often go through an epic process of drafting, feedback (aka drafts sitting on team-mates’ desks for weeks) and internal stakeholder management that, like a law of physics, seems to always take six months; Source: Radiantlaw.com
  33. 33. Use Case: Document review in seconds what took lawyers 360.000 hours ● JPMorgan announced earlier this year that it is using software called Contract Intelligence, or COIN, which can in seconds perform document review tasks that took legal aides 360,000 hours; ● The software reviews documents in seconds, is less error-prone and never asks for vacation; ● Junior lawyers/paralegals used to work through these documents to find relevant information. This can be completely automated. ● The firm recently set up technology hubs for teams specialising in big data, robotics and cloud infrastructure to find new sources of revenue, while reducing expenses and risks; Source: Technologyreview.com and Independant.co.uk
  34. 34. ● CaseMine leveraging AI to unearth latent linkages between case laws thereby making legal research more in-depth and comprehensive. ● A legal technology company based in India, builds on document discovery software with what it calls its “virtual associate,” CaseIQ. ● The system takes an uploaded brief and suggests changes to make it more authoritative, while providing additional documents that can strengthen a lawyer’s arguments. Use Case: Get your own ‘virtual associate’ that makes your document more authoritative and with stronger arguments Source: Casemine.com and Technologyreview.com
  35. 35. Blockchain has the potential to disrupt legal services. From managing citizens to property, the applications of Blockchain are as wide as they are transformational. 4. BlockChain Passes Peak of Hype. Reaches Mass Adoption & Interest
  36. 36. ● The British edition of The Economist called smart contracts “the most progressive technology implemented on the blockchain, which will gain momentum”; ● Law firms are opening themselves up to a whole range of other types of business to remain relevant in the digital age. This includes more sophisticated functions in due diligence and deal-making, as well as the potential to track down cryptocurrency in divorce settlements and provide guidance for banking on stocks running on blockchain; ● While it’s clear blockchain is a technology that will affect the legal industry, the repercussions are still unclear; Blockchain Interest and Adoption Source: Raconteur.net and PWC
  37. 37. ● Maersk, IBM and 90+ partners moving their work to a blockchain in a collaboration called TradeLens ● The EcoSysteem is built on open standards and can help to reduce cost per transaction up to 40% ● Partners include port and terminal operators, container carriers, customs authorities, cargo owners, transportation and logistics companies and many more. ● Using blockchain smart contracts, TradeLens enables digital collaboration across the multiple parties involved in international trade ● The result is a much more lean and transparent global supply chain, reduced costs by having transparent risks shared and less use of middlemen, and data presented real-time to all partners Use Case: Digitizing Trade with Blockchain (Maersk <> IBM) Source: Maersk and Forbes
  38. 38. ● Global Legal Hackathon 2018, which was attended by members of more than 30 countries from around the world, presented several projects that implement blockchain in the legal system ● One example is a project INCO-herent, created by a team from USA ● Their mission is to provide a clear understanding of how to choose and verify appropriate use of Incoterms when buying or selling across international borders to more accurately capture costs and risks ● INCOtelligent smart contracts help your business navigate INCOterms for international purchasing contracts. ● By using a set of guided questions, INCOtelligent smart contracts help you select the right INCOterm for your business Use Case: Buying & Selling Across Borders with verified Incoterms What are Incoterms? Incoterms (International Commercial Terms) are a series of agreed commercial terms published by the International Chamber of Commerce (ICC) They are widely used in international commercial transactions and procurement. Their use is encouraged by trade councils, courts and international lawyers.Source: Globallegalhackathon.com and Irishtechnews.ie
  39. 39. Use Case: Verify Signatures on Legal Documents ● Currently, notary publics (or general notaries) are used to confirm and verify signatures on legal documents, such as deeds and contracts. Using blockchain technology, these documents can be preserved digitally as part of a digital ledger. ● Blocknotary is a company that seeks to apply blockchain technology to legal documents, and offers “timestamps and fingerprints for media files”, thereby eliminating the need for the rubber stamp of today’s notary public. What is a notary? A notary is a person licensed by the government to perform acts in legal affairs e.g. signatures on documents. Source: Blocknotary.com and Techradar.com
  40. 40. 5. Smart Contracts Race Among Law Firms Largest law firms develop industry-wide standards for legal smart contracts
  41. 41. ● Blockchain and smart contracts will fundamentally change our societal systems and structures. They will significantly redistribute power and wealth. That’s the decentralizing function of blockchain. ● More and more law firms are investing in technology, developers, smart contracts and unite in specific consortiums, e.g. the Accord Project and the Enterprise Ethereum Alliance. The purpose of these consortiums is to establish best practices for smart legal contracts. ● The legal industry is working on to employ and deploy smart contracts that could automate many functions Smart Contracts Are Booming Source: Hackernoon.com and Applicature.com
  42. 42. Smart Contracts: Simple to Complex Source: Applicature.com
  43. 43. ● The Accord Project develops technical standards such as data schemas, models, templates, a smart legal contract programming language and a contract execution engine that embody legal best practices and work towards a common, universal, implementation for smart legal contracts; ● Smart legal contracting needs a common implementation. The Accord Working Groups are comprised of 36 leading law firms that help establish best practices for an industry standard smart legal contract layer; ● The Accord Project incubates an open-source protocol, enabling applications to be built on a common software foundation for smart legal contracts; The Accord Project Use Case Source: Accordproject.org and Legalweek.com
  44. 44. ● The Enterprise Ethereum Alliance is a nonprofit organization connecting Fortune 500 enterprises, startups, academics, and technology vendors with Ethereum subject-matter experts. ● From global such as BBVA, Credit Suisse and JPMorgan to blockchain startups and tech vendors like Microsoft, the consortium has attracted many big names.. ● Ethereum is an open-source, public, blockchain-based distributed computing platform and operating system featuring smart contract functionality. ● Running on Ethereum smart contract functionality is Ether, one of the most widely known and trade cryptocurrencies. Enterprise Ethereum Alliance Use Case Source: Entethalliance.org and Legalweek.com
  45. 45. 6. RegTech and its Role in Legal World RegTech, which begin to develop 11 years ago, can be a next big thing for legal industry. For law firms, RegTech provides a wealth of opportunities
  46. 46. The Adoption of Regtech in Law Firms ● The regulatory environment has changed a lot since 2007 when the US was hit by the financial crisis. Many people blamed the problems of regulators, which poorly controlled the banks. ● According to IBM estimates, regulators are now producing at least 20,000 new requirements per year, and a full set of rules and regulations will exceed 300 million pages by 2020. ● Companies are turning to technology to meet the growing regulatory demands ● According to Reuters, the market for RegTech will be $120 billion by 2020. ● In the long-term perspective, RegTech adoption helps protect an organization’s financial health and allows it to maintain market agility and integrity. ● Regulatory technology, or RegTech, offers e.g. banks automated solutions that can speed up the cumbersome process of vetting clients and transactions, which is necessary to prevent money laundering and other financial crimes. ● Utilization and knowledge of RegTech solutions can also help a firm position itself as an authority in the field, boosting its reputation. ● Additionally, the adoption of RegTech for its own compliance and business operations could give a firm the ability to increase both its efficiency and scalability; ● Firms who can show they are innovating to provide cost and quality benefits to their clients will stand out among its competitors. The flipside of these opportunities is the risk of losing out to firms and vendors that are taking full advantages of these technologies in their operations; Source: Biglawbusiness.com and Encompasscorporation.com
  47. 47. ● Cryptocurrencies have become part of the modern criminal’s toolkit. They are being used to fund a growing array of criminal activities. ● Going beyond their role in enabling trade on dark web marketplaces, cryptocurrencies are used in extortion, ransomware cases, money laundering and fraud. ● Elliptic describes itself as the global standard for blockchain intelligence, and has provided RegTech services for the financial sector since 2013. ● The startup identifies criminal activity related to cryptocurrencies, e.g. by examining blockchain transactions as well as providing proof of identity for users of cryptocurrencies. ● Their clients include financial organisations, but also law enforcement agencies who use Elliptic’s data to investigate suspicious activity. Use Case: Identifying cryptocurrency-enabled criminal activity. Source: Disruptionhub.com and Elliptic.co
  48. 48. ● Apiax is a Swiss RegTech startup, transforming complex financial regulations into digital compliance rules, which are constantly up-to-date and verified. ● The rules are consumable via an app or can be integrated directly into processes through an API. ● Using this type of technology can help legal and compliance teams provide full visibility and control over their digital rule sets and empowers client advisors to serve their clients more efficiently and in a compliant manner. Use Case: From complex financial regulation to digital compliance rules ready to be implemented. Source: Crunchbase and Apiax
  49. 49. 7. Focus on Data Ethics, Governance & GDPR In an increased privacy aware society, GDPR is forcing companies to become more ethical in how they handle data.
  50. 50. About GDPR The General Data Protection Regulation (GDPR) is a regulation by which the European Parliament, the Council of the European Union and the European Commission intend to strengthen and unify data protection for all individuals within the European Union. The regulation became enforceable throughout EU from May 25 2018. GDPR and Data Ethics ● Big data has spurged almost monolithic tendencies among tech-giants, such as Google, Facebook and Amazon. ● Monetizing data has become key driver for startups and investors worldwide - often sidestepping vital privacy rights. ● GDPR has puts focus on data ethics and governance. ● IT forces all businesses to follow a stricter code of ethics to collect, manage and store personal data. ● While the GDPR requirements are detailed and tough to implement, the foundation is good data ethics and management. ● GDPR is not about checking of boxes, but a laung/haul cultural change to data. Privacy by Default and Privacy by Design forces companies and people to change their ethics towards data ● ePrivacy will most likely come in 2019 (and be part of GDPR). Source: Infolawgroup.com and Pwc.co.uk
  51. 51. Compliance & ethical behavior a bigger driver for change than technology ● Lapses like Caterpillar’s alleged $2 billion tax fraud exposed by a whistleblower in 2013. Or Volkswagen’s diesel emissions tests for 11 million cars (its settlement tab is $14.7 billion and growing). And Wells Fargo’s ploy to open as many as 3.5 million potentially fake bank and credit card accounts in customers’ names since 2002, incurring a $142 million national class action settlement. ● Machine learning algorithms are turned loose to look for suspicious patterns of behavior. ● Companies are forced to clean up their act, or double-down on any malfeasance that’s revealed. ● AI presents a range of ethical, legal, and regulatory issues. Real-world biases risk being embedded into training data. Since the real world is racist, sexist, and biased in many other ways, real-world data that feeds algorithms will also have these features—and when AI algorithms learn from biased training data, they internalize the biases, exacerbating those problems; Source: qz.com
  52. 52. ● Convercent is an ethics and compliance software provider that helps companies instill ethics at the core of their organizations; ● The products they provide weaves ethics and values into everyday operations. ● Its Ethics Cloud Platform is comprised of a suite of applications covering board reporting, whisteblower channels, case management, policy management, online training, conflict of interest and more. Use Case: Proactive Ethics & Compliance Mgmt. Source: Convercent.com and Crunchbase.com
  53. 53. ● Secure Privacy is an online compliance company, which help companies setup privacy banners, install online privacy policies and communicate online data practices to website visitors ● The solution include a powerful scanning feature, which scan all cookies and tracking technologies on a website. ● Using the scanning technology, companies can see what plugins they use by which category and get an assessment whether their website is GDPR and ePrivacy compliant. Use Case: Online GDPR & Compliance Scanners Source: Secureprivacy.ai
  54. 54. E-learning and gamification looks highly promising for the legal industry as we’ve seen a wave of fun and playful solutions come to market. 8. E-learning and Gamification
  55. 55. E-learning and Gamification in Legal Industry ● Gamification means to add game-design elements, e.g. point scoring, competition with others, rules of play in a non-game solution. ● The purpose of adding gamification can be to improve user engagement, increase organizational productivity, ensure more people take learning course etc.. ● E-learning based training doesn’t have the time and location requirements that classroom based training has. Studying can happen at home, during office downtime, etc. at the employees’ own pace. ● Since training happens on-demand and can be served through web interfaces, it can be used on any kind of device: desktop, laptop, tablet or even a smartphone. A lawyer can study while at court waiting for the judge to arrive or the jury to come back with their decision, or even while commuting or waiting at the airport to catch a flight. ● It’s great for continuing legal education (CLE). ● Why not transform then monotonous tasks and administrative actions to challenging games, making it enjoyable? That is exactly the premise behind gamification. Source: Efrontlearning.com and Advocatus.dlapiper.hu
  56. 56. ● Learningbank has a digital GDPR solution that enables you to document training concerning GDPR and incorporate the training in future onboarding processes. ● The learning game combines gaming mechanics, involving storytelling and result-oriented learning content. ● GDPR Awareness consists of 25 minutes of bite-sized learning, ensuring that employees get well equipped for abiding by the personal data regulation. ● The product focus on involvement rather than just informing. ● It also sharpens the ability to reflect on “common sense” rather than paragraphs. Use case: Learn compliance & GDPR with a game Source: Learningbank.dk
  57. 57. ● Praktio provides practical online interactive contract training. It allows legal departments and law firms to learn how to draft, analyze and negotiate contracts. ● It is a safer and cost-efficient way to learn the basic structure and pitfalls in contract drafting and reviewing. Use Case: Learn to draft and review contracts with gamification Source: Praktio.com
  58. 58. Legal teams are under pressure. They are on side facing an increased regulatory pressure, while being forced to meet those challenges with fewer resources. Managed legal services (MLS) is a rising trend, which aim to streamline legal operations and reduce IT spend, while companies get access to new technology. 9. Managed Legal Services
  59. 59. Source: Experticon.com survey, 4cassociates.com and Inhouselawyer.co.uk Managed Legal Services for In-House Teams ● Conventional service delivery methods are simply no longer sustainable in many cases. ● All major companies are facing the combined pressures of tackling increased workloads, regulation and commercial demands within ever tighter budgetary constraints. In other words, clients need more for less. Very little has changed in the delivery of legal services beyond a modest uptake of alternative billing. ● Managed Legal Servises has primarily focus on the less complicated legal jobs, such as discovery, bread & butter contracts, repetitive compliance audits etc. – in other words “machine room law”. ● Legal Process Outsourcing (LPO) has been a common practice for many years amongst organisations seeking to delegate routine and volume work tasks to third-party businesses who can do it more economically. ● LPO is expected to grow 35% CAGR from 2017 to 2024. ● These services are often delivered using a combination of onsite, nearshore and offshore resources, as appropriate to the nature of the work being supported. ● Managed legal services can’t be done without alternative legal service providers. These providers contract for all or part of the function of an in-house legal team. Typically engaged for ongoing work within scope, proactively managed; ● Gartner, in its most recent Market Guide for E-Discovery Solutions, stated that best-of-breed solutions still dominate within corporate legal departments. While that may be true today, this will not continue going forward. The value of a unified platform approach in terms of efficiency, productivity, and cost and risk reduction has been validated time and time again in just about every other software category;
  60. 60. Source: ALTNordic Survey, Lawgeex.com & ThomsonReuters. Major shift in the attitude towards ALSP’s ● Major shift towards ALSP’s: A survey by ALTNordic, which Experticon is part of, conducted a survey among leading General Councils in Sweden, Denmark, Finland and Norway. The result revealed a major shift in the use of ALSP’s. While only 12% used ALSP’s in 2017, the number had increased to 34% in 2018. ● Cost pressures are rampant. Cost pressures to improve efficiency are cited by 69% of General Counsel as a driving force in their daily roles. Businesses want to pay less for legal services but there is no reduction in work. Only 28% of legal departments are hiring, yet 82% of departments expect their legal needs to increase in the next year. ● The need for more strategic lawyering. In the new business environment, in-house lawyers are required to demonstrate greater strategic alignment of their business goals, with 65% of in-house counsel now saying they take part in strategic business decisions; ● The growth of legal operations. Legal Operations, a movement to ensure that law departments function as a business, have become entrenched, as 56% of legal departments (in large companies) now have a dedicated legal operations function, up from 51% last year.
  61. 61. Use Case: Enabling legal teams to be more strategic, flexible and technology oriented. ● The line between in-house and law firm work is evolving. Axiom was built to enable legal teams to be flexible, strategic and drive business forward. ● Axiom’s solutions combine legal experience, technology, and data analytics to deliver work in a way that dramatically reduces risk, cost and cycle-time. The firm comprises 2,000-plus lawyers, professionals, process engineers and technologists. Source: Axiomlaw.com and Thomsonreuters.com
  62. 62. 10. Legal Design & UX Legal design is increasingly being applied to the legal industry. The whole point of legal design is to make law more accessible, more usable and more engaging.
  63. 63. Design and Legaltech ● How design thinking is relevant to lawyers? Legal design thinking is a cross-discipline of Legal Thinking, Design Thinking, Visual Thinking and User Experience (UX) Design; ● Lawyers use these disciplines to enhance the human friendliness of understanding and applying the law, since the law is meant to create order in society and make a peaceful living and working environment for everybody; ● Using visual tools, lawyers can get clients’ message across effectively in and out of court. This innovative approach utilises graphics and other visual tools to support clients’ point of view or to facilitate strategic discussion in an clear, intuitive and concise way. This saves the time it takes wading through text, improves concentration and makes it easy to see connections or contradictions; Source: Legaltech.se
  64. 64. Source: Legaltechdesign.com Use case: Design lab for new legal products ● Legal Design Lab is an interdisciplinary team based at Stanford Law School & d.school, working at the intersection of human-centered design, technology & law to build a new generation of legal products & services. ● Legal Design Lab create concept designs for new legal products & services, and build them out with agile, design-driven teams. These development projects are also research-driven, to create results about what works in legal innovation;
  65. 65. Source: Legalgeek.co and Juro.com Use Case: A privacy policy that is easy to read ● Legal design is a mindset as much as a discipline. It means starting with the end user of legal services of all kinds and working backwards. And it’s no longer a nice-to-have. To take one example, the GDPR mandates that all privacy notices will need to be concise, transparent and written in plain language. Sounds more of a design challenge than a legal challenge; ● Juro, an end-to-end contract workflow tool which won the 2017 Legal Geek start-up awards, is using legal design in its product to change a mindset of legal industry.

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