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the percentage of in-house legal budgets spent on technology is expected to increase threefold by 2025 from 2020 levels as legal departments “increase spending on technology to reduce the dependency on outside counsel, address COVID-19, and satisfy a long-overdue need to modernize, digitize and automate legal work.”.
As awful as was the year 2020 for so many reasons, my year-end report last year found reasons to be optimistic. The silver lining of 2020,” I wrote, “is that we have been forced to consider changes that were long overdue and then given the opportunity to implement those changes.”. It is as if we are serving time in a legal tech limbo.
It was sometime around April 2020. I built a documentautomation app online to help people fight their tickets for free using a recent court decision that had come down in Manhattan. Download: The Complete Guide of DocumentAutomation Software for Law Firms. It all started with my wife and a pandemic.
Similarly, for document storage, 50% use consumer products such as Dropbox or Google Docs, while only 6% use legal-specific products such as NetDocuments or iManage. Only 31% of respondents said that they knew about all the recent legal technology consolidation that had occurred since 2020. Laid the Foundation.
Consider the following data: A 2020 ABA survey states that just 58% of firms store their data in the cloud, and only 7% of survey respondents used tools that deploy artificial intelligence (AI), despite AI’s popularity in other industries such as finance. . Since 2020, the upward trend of law firms adopting new technology has continued.
As awful as was the year 2020 for so many reasons, my year-end report last year found reasons to be optimistic. The silver lining of 2020,” I wrote, “is that we have been forced to consider changes that were long overdue and then given the opportunity to implement those changes.”. It is as if we are serving time in a legal tech limbo.
They’re also incredibly common, with 79% of lawyers noting in the 2020 Legal Trends Report that they rely on cloud technology to store their firm’s data. They’re also incredibly common, with 79% of lawyers noting in the 2020 Legal Trends Report that they rely on cloud technology to store their firm’s data.
Demo video: [link] Founded: 10/28/2020, Vancouver, BC, Canada Target customer: Solos, small and medium size firms. N/A Briefpoint Elevator Pitch: Briefpoint is an out-of-the-box documentautomation platform that litigators use to draft discovery documents within minutes of their first sign-in. Anything else?
Traction: We have 30+ solo and small law firm subscriptions since coming out of a soft launch in December 2020. Founded: 2/20/2020. How we’re unique: Legal tech is saturated with documentautomation tools, but hundreds of hours of customer research taught us these tools are only useful for wrote contracts. Clause Logic.
Traction: We have 30+ solo and small law firm subscriptions since coming out of a soft launch in December 2020. Founded: 4/1/2020. Founded: 9/1/2020. Founded: 5/1/2020. Our new software helps lawyers organize their inboxes, track documents and deadlines, and collaborate with colleagues. Founded: 2/1/2020.
Demo video: [link] Founded: 10/28/2020, Vancouver, BC, Canada Target customer: Solos, small and medium size firms. N/A Elevator Pitch: Briefpoint is an out-of-the-box documentautomation platform that litigators use to draft discovery documents within minutes of their first sign-in. Anything else?
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