Have you heard of the term Legal Tech but don’t know exactly what it means? Since the early 2000s, digitalization has helped to make several industries more effective and restructure them. In recent years, the Legal Tech industry has seen a major boom, as its technologies and solutions are greatly helping to make the legal industry more efficient and restructured. If you want to learn more about Legal Tech in general and Legal Tech applications in particular, feel free to read on!
Legal Tech
In short, Legal Tech (short for legal technology) is a broad term for technologies and software used in the legal industry. It includes both digital products for lawyers and solutions offered directly to clients. So there are both Legal Tech products that support the lawyer and those that could directly compete with the lawyer or even make him redundant. This is because the software offers end users easy-to-use and, above all, automated solutions. Originally, Legal Tech refers to software for lawyers that supports lawyers and law firms in their legal activities. In recent years, however, the term has become increasingly associated with new technologies. This is also turning the traditional legal profession upside down, as software for lawyers, restructures and streamlines the work of legal representatives.
Legal Tech Startup: New technologies
The number of Legal Tech startups is growing steadily, offering new and smart technologies. The Legal Tech industry deals with a wide range of technologies such as blockchain, artificial intelligence (AI), machine learning, SaaS platforms, as well as websites where you can find good and affordable lawyers in your area. Examples of applications from Legal Tech companies include chatbots that can answer simple legal questions, marketplaces that match clients with lawyers, artificial intelligence that can scan legal documents, and contract software that makes working on contracts simple, fast, and straightforward.
These new technologies also have great potential to make the work of lawyers and other legal professionals easier. For instance, intelligent software tools can help law firms with law firm management. There is also software for law firms that can support more facets of legal work on a day-to-day basis. Legal Tech can therefore help make work more efficient and save both time and money. This is done, for example, by automating processes that would normally take many man-hours. Examples are processes such as analysis work, but also work on contracts and their administration.
Clever Contracts – Create contracts easily
Contract work is one of the areas where Legal Tech can really make a difference for lawyers. Digital contracts and contract software make contract work faster, easier and more cost-effective. Clever Contracts is the next generation of legal and management software. With Clever Contracts, you can easily create new contracts with ready-made contracts and contract templates that you can easily customize. This way, you get a fully completed contract in just a few clicks – without having to enter everything manually. Quickly close the deal with an electronic signature and move on to other important tasks. Thanks to Legal Tech like Clever Contracts, you no longer have to wait for contracts to be physically sent back and forth between parties. This saves you time and money and makes for a more efficient workflow.