Contract management fundamentals for law firms
OneLegal
MARCH 22, 2024
Contract management is crucial. The post Contract management fundamentals for law firms appeared first on One Legal. Is your process as bulletproof as it should be?
Contract Staffing: 3 Ways ALSPs Can Support Your Law Firm in Uncertain Times
Attorney at Work
JANUARY 25, 2023
Tower Legal CEO Leslie Firtell says contract staffing will grow in importance this year. The post Contract Staffing: 3 Ways ALSPs Can Support Your Law Firm in Uncertain Times appeared first on Attorney at Work.
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Startup LexIQ, An AI Copilot for Contracts Backed By Techstars and J.P. Morgan, Launches Waitlist Today
LawSites
JUNE 11, 2024
LexIQ, an early-stage startup focused on using artificial intelligence to draft and review contracts in Microsoft Word, is today launching its waitlist for corporate legal departments and law firms interested in joining is beta program.
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How Law Firms Are Using AI: Quick Case Summaries and More
CARET Legal
MAY 1, 2024
By streamlining complex processes and enhancing accuracy, AI is not only optimizing how legal professionals work but also redefining outcomes. Artificial Intelligence (AI) is revolutionizing the legal world, transforming key practices including case reviews, legal research, contract analysis, and predictive analytics.
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Contract Lifecycle Management: A Business Enabler Exploring On-Ground Challenges
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CLM tools have always strived to push contract management into the digital age for almost 30 years. But the complexities of digitising a legal document are numerous. The current scenarios in business development have shown that having a fully automated CLM has become a mandate for every law firm and in-house legal department.
Breaking News: LexisNexis To Acquire Contract Drafting Company Henchman
LawSites
JUNE 3, 2024
LexisNexis Legal & Professional said today that it has entered into an agreement to acquire Henchman, a Belgium-based contract drafting legal technology company. It say its technology enriches a law firm’s internal work product, creating a layer of intelligence on […]
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How Smart Contracts are Changing Legal Contracts
LawTechnologyToday
DECEMBER 11, 2020
While a world free of lawyers will most likely never come to fruition (to many parties’ chagrin), new technology in the form of smart contracts is changing how legal matters are drafted. This data then informs the automated terms of a contract by posting results and accompanying proof to the blocks.
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Tackling Inefficient Time Management At Your Law Firm
CARET Legal
MAY 8, 2024
In a high-pressure environment where every second counts, managing time poorly can lead to a domino effect of problems that can be detrimental to your firm’s success. As a law firm owner, you’re no stranger to the whirlwind of activities that fill your day. Let’s dive into this together.
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Administrative Benefits of Legal Practice Management Software
CARET Legal
JUNE 10, 2024
By automating routine admin tasks, an LPMS enables effective resource allocation and reduces the potential for human error, leading to a more productive and professional firm. Streamlining administrative tasks is the easiest way a law firm can immediately improve efficiency.
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What Is the Biggest Challenge Facing Law Firms Today?
CARET Legal
APRIL 8, 2024
The relentless pursuit of billable hours in the legal profession often leads to overwork and burnout, undermining lawyers’ well-being and job satisfaction. On one hand, it’s a measure of a lawyer’s productivity and a key revenue driver for law firms.
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How to Structure Your Law Firm As You Grow
CARET Legal
MARCH 22, 2024
Choosing the right structure is crucial for supporting growth and ensuring long-term success for your law firm. As your law firm starts to grow, the structure of your business becomes increasingly critical. Your organization model significantly impacts your firm’s efficiency, profitability, and overall success.
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Startup LexIQ, An AI Copilot for Contracts Backed By Techstars and J.P. Morgan, Launches Waitlist Today
LawSites
MAY 24, 2024
LexIQ, an early-stage startup focused on using artificial intelligence to draft and review contracts in Microsoft Word, is today launching its waitlist for corporate legal departments and law firms interested in joining is beta program.
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Top 8 Legal AI Tools: Improve Firm Productivity
MyCase
JUNE 5, 2024
Artificial intelligence (AI) is rapidly transforming the way law firms operate. As for reasons fueling the adoption, MyCase’s Legal Industry Report 2024 found 81% of firms surveyed are using AI to increase productivity and efficiency and 50% are interested in exploring new technologies. What Are Legal AI Tools?
2024 Law Firm Technology Trends to Be Aware Of
CARET Legal
FEBRUARY 23, 2024
AI is expected to automate nearly half of legal tasks in the US and Europe. Several legal technology trends are set to reshape how law firms operate. According to a Goldman Sachs report , AI is expected to automate nearly half of legal tasks in the US and Europe.
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Guide to Enhancing Law Firm Productivity
LawTechnologyToday
AUGUST 1, 2023
In an evolving legal environment with market competition at an all-time high, the technical competence of law firms and legal departments of large organizations have to be top notch. For legal practitioners, there are a number of metrices that are indicative of the firm’s or the department’s performance.
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The Future of Law Firms: How Legal Tech Is Modernizing Traditional Practice
Attorney at Work
SEPTEMBER 23, 2021
By embracing legal tech, firms are stepping into the future and preserving the integrity and success of their practices. forcing at-home work to extend even further, the legal industry continues to feel the disruption. The Rise of Legal Tech and the Evolving Law Firm. Data Security Is Top Priority.
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2024 Guide to Utilizing Generative AI in the Legal Industry
MyCase
JUNE 5, 2024
The primary aim of artificial intelligence (AI), particularly in the legal industry, is to streamline operations that traditionally require extensive human intervention. This shift is not just about saving time or cutting costs; it’s about enhancing the precision and effectiveness of legal services.
Legal Staffing Lessons for Today’s Marketplace
Attorney at Work
AUGUST 26, 2021
Contract attorneys have made it possible for legal organizations to level up their teams’ expertise without increasing headcount. . Law firms didn’t let the pandemic get in the way of profitability or performance in 2020. Corporate law departments made structural shifts as well.
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Three Ways Contract Analytics Deliver Value Beyond Corporate Legal
LawTechnologyToday
JANUARY 22, 2021
Their counterparts at law firms have long used business intelligence tools, such as win rates, financial statistics, and document and case metadata. But now, general counsels (GCs) and legal teams need solid insights on resource allocation and budgeting, too. Preferably, one with an AI-powered analytics “brain.” The IT Team.
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Fast Company’s List of World’s 606 Most Innovative Companies Includes Four from Legal Tech
LawSites
MARCH 20, 2024
Fast Company is out with its annual ranking of the world’s most innovative companies , and of the 606 companies that made the list, just four are from legal tech. ” Here are the four legal tech companies that made the list, based on my review. “They lead their fields and are transforming the world.”
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India dispatch: India opens its doors to foreign law firms and practitioners
JURIST
MARCH 22, 2023
This dispatch is from Samar Veer, a third-year law student at National Law University, Delhi. In a major departure from longstanding policy , the Bar Council of India (BCI) last week issued a notification permitting foreign law firms and foreign lawyers to advise clients on broad foreign law and international arbitration issues.
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The One Piece of Advice Every Law Firm Tech Consultant Should Be Giving
CARET Legal
FEBRUARY 19, 2024
There’s one piece of advice that every law firm technology consultant should be giving: Invest in a comprehensive, scalable legal practice management software. Welcome to the digital age, where technology isn’t just a fancy add-on for law firms, but a must-have. Think about the size of your firm.
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Stuck In A Long-Term Contract with A Practice Management Vendor? Clio Offers to Buy You Out
LawSites
MARCH 5, 2024
Two years ago, Clio , the law practice management company, made an offer that some law firms might have found difficult to refuse. It offered to buy them out of up to six months of their contracts with competing practice management platforms if they switched to Clio’s platform. They must: Be a new subscriber to Clio.
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Law Firms Must Prepare For Contract Tech Co. Consolidation
Law 360
DECEMBER 16, 2021
The legal industry's continued remote work needs during the pandemic have fueled growth of contract lifecycle management providers, but to continue access to the platforms they have come to rely on, businesses should look out for the CLM mergers that are likely to occur in 2022, says Naseeha Machingal at LegalEase Solutions.
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Reaping The Rewards Of Contract Management Software [Sponsored]
Above The Law
NOVEMBER 1, 2022
A deep dive into all things CLM — for law firms and law departments alike — in the latest Non-Eventcast. The post Reaping The Rewards Of Contract Management Software appeared first on Above the Law.
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Teleprompter: Choosing a Law Firm Phone System
NCBA Law Practice Management Blog
MARCH 18, 2020
Phone systems, and managing phone systems, are essential for law firms -- even if managing lawyers can tend to overlook the importance of such things. But, in a very real sense, law firm phone systems are really money machine s. This article offers a useful rundown of phone system options for the modern law firm.
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Sharefile Makes Renewed Push Into Legal Market, With New Features Designed For Law Firms
LawSites
AUGUST 17, 2023
In 2016, I wrote a review of ShareFile in which I called it one of the best products on the market for secure document storage and sharing by law firms. But then there came a period when ShareFile seemed to go quiet, at least in the legal market, with little outward evidence that it was making any effort to market or sell to lawyers.
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Casetext Launches Co-Counsel, Its OpenAI-Based ‘Legal Assistant’ To Help Lawyers Search Data, Review Documents, Draft Memos, Analyze Contracts and More
LawSites
MARCH 1, 2023
With the legal industry consumed with interest in generative AI and legal tech companies scrambling to incorporate the technology into their products, it was a sure bet that, sooner rather than later, Casetext would come out with a product of its own. Contract policy compliance. Extract data from contracts.
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Legal Leads Provide Unexpected Strategic Benefits for Law Firms
LawTechnologyToday
JULY 27, 2022
that most law firms don’t have?the?time So, legal leads give them the ability to outsource the mammoth, expert task of sourcing online leads to an outside firm. That depth of experience and breadth of resources leapfrogs a law firm into new levels of strategic potential. highly complex skill?that
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How Much Does It Cost To Start A Law Firm
MyCase
OCTOBER 3, 2023
You need capital to start a new law firm, but how much, exactly? Without setting up the right tools and organizing your law firm from day one, administrative tasks can quickly become unmanageable. How Much Does it Cost to Start a Law Firm? As a rough estimate , law firm start-up costs may total about $8,200.
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Which Technology Is the Best Fit for Your Law Firm?
LawTechnologyToday
NOVEMBER 30, 2022
Which Technology Is the Best Fit for Your Law Firm? As with most professional service providers, legal professionals have a tendency to fall into the “If it ain’t broke…” camp. It’s a big part of the reason why many law firms have historically been slow to adopt new technology.
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How Law Firms Found New Ways to Grow During the Pandemic
LawTechnologyToday
SEPTEMBER 14, 2021
During the pandemic, our team at 4LegalLeads.com has seen incredible growth in law firms across the nation. Law firms as a whole have been hesitant to adopt online lead generation strategies over the years, tending to rely on more traditional methods of marketing. Legal leads solve these issues for law firms.
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Terms And Conditions: How You Can Benefit From Contract Management Tech
Above The Law
APRIL 15, 2022
In the latest Non-Eventcast, we discuss the future of CLM, how software can ease a staffing crisis, and best practices for law firms and law departments alike. The post Terms And Conditions: How You Can Benefit From Contract Management Tech appeared first on Above the Law.
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Alternative Legal Service Provider and Cenza – A quick recap of the journey
Cenza
JANUARY 27, 2023
The practice of outsourcing certain aspects of legal work by law firms, in-house counsels, and individual attorneys existed for decades. It took years to shape into a formal industry and to be christened Alternative Legal Service Providers. The growth simply signifies the unassailable role of ALSPs in the legal industry.
Law Firms of All Sizes Can Easily Integrate AI Tools Into eDiscovery
Attorney at Work
JANUARY 13, 2022
Artificial intelligence tools have become prevalent in legal practice, particularly in eDiscovery. That doesn’t mean, however, that law firms and litigation support teams have been quick to embrace them. Despite their benefits, many legal organizations have been hesitant to implement AI tools. AI Hesitation.
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2023 Trends in Law Firm Operations – and How Technology Will Help Shape Them
LawTechnologyToday
JANUARY 31, 2023
We hear a lot about legal technology changing the way law firms operate, but technology doesn’t drive change: it empowers law firms to make the changes they want to make, or that they need to make to stay competitive and grow their businesses.
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Legal ChatGPT: Tips, Prompts, and Use Cases
MyCase
APRIL 24, 2024
AI tools like ChatGPT are creating a buzz in the legal field. According to the Legal Industry Report 2024 , nearly one-quarter (24%) of law firms have adopted legal-specific generative artificial intelligence (GAI) tools. GAI can free lawyers from repetitive tasks so they can focus on higher-level legal strategy.
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Legal malpractice dismissal based on statute of limitations affirmed.
Day on Torts
MARCH 22, 2024
Where the substance of a complaint sounded in legal malpractice, and the complaint was filed more than one year after plaintiff should have been aware that he had been injured by the alleged negligence, judgment on the pleadings for defendants was affirmed. Kennedy Law Firm, PLLC , No. In Houbbadi v. M2022-01166-COA-R3-CV (Tenn.
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How AI for Legal Documents Helps Lawyers
MyCase
JUNE 7, 2024
The legal industry is currently experiencing a shake-up due to the latest advancements in artificial intelligence (AI), especially regarding document management and automation. ” The evolution of AI for lawyers is setting the stage for a new era in legal work, one in which efficiency and precision are greatly enhanced.
Law firms’ relationships with consumers and legal technology. A new era?
SimplyLawJobs
JUNE 9, 2021
Our partner The Student Lawyer covers the benefits, challenges and relationships law firms have with consumers and legal technology, by author Elizabeth Adeogun. In this article the growing applicant and use of legal technology will be analysed. The benefits of legal technology . The UK legal market .
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Clients Are Spending More on Legal Tech: Can Smaller Firms Keep Up?
Attorney at Work
JANUARY 20, 2022
Law firms of all sizes are feeling pressure to meet client demand for both tailored services and greater efficiencies in this rapidly changing industry. Legal teams are being pressed to control costs and better respond to changing regulatory and risk management obligations. Increasing law practice specialization.
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Clio Offers to Buy Lawyers Out Of Up to Six Months of Competitors’ Contracts
LawSites
MAY 18, 2022
The law practice management company Clio today introduced an offer to buy lawyers out of their contracts with competing practice management platforms if they switch to Clio’s platform. To take advantage of the offer, a firm must: Be a new subscriber to Clio. Have at least three months remaining on the contract.
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India-based ALSP Proxiio Expands Into U.S. Legal Market to Deliver Litigation and Corporate Services
LawSites
MARCH 12, 2024
Proxiio Global Solutions , an India-based provider of litigation and corporate legal services for law firms and in-house legal departments, is today officially launching in the United States. Leading U.S.
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Money for Legal Tech: Two Big Financings this Week (and One Little One)
LawSites
JANUARY 26, 2024
This week brought notable funding rounds for two legal technology companies, Proof and Spellbook, and a much-smaller seed round for a newer legal tech startup. More than 5,000 law firms and government agencies currently use its platform to deliver or e-file close to 20,000 documents each month, the company says.
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