One of the biggest disruptions in the world of legal was when legal-specific technology (legal tech) made its entry more than 4 decades ago. Let’s go time traveling and jump back in history to find out more about the time legal tech was invented, its adoption, and how it has transformed exponentially over the decades into its myriad current avatars!
Join us as we dive into the rich and impressive world of legal tech in this article! You’ll find out the differences between legal tech, which is created exclusively for legal workflows, and general software. Legal departments and corporate counsel rely on legal tech to improve their processes, bringing high-value work to their organizations.
LinkSquares goes back to the future while detailing the launch of the granddaddy of legal tech, “after dictation machines became all the rage in the 1950s, the next tech book happened in the 1970s with the introduction of computer-assisted legal research (CALR).” Legal-specific software was designed with the intent to automate legal tasks so that legal workflows could be streamlined. The objective was to free up time for legal teams so that they could provide value to their organization beyond merely working on rote tasks. Legal departments could provide counsel, focus on pressing matters, and stay efficient in order for their organization to meet demands, boost profits, and support the company beyond legal.
The latest iteration of legal tech lies in AI-powered tools and software with machine learning (ML) and natural language processing (NLP) models built exclusively for nuances in legal workflows and projects. These tools are highly efficient and offer zero-error margin, which is what legal departments and corporate counsel are looking for.
The legal industry faces a unique challenge when selecting software because they need to balance cost-efficiency with legal-specific requirements. Most organizations offer the legal department a very tight and specific legal budget.
Off-the-shelf software, designed for general use, offers a lower price point and quicker implementation. However, it often lacks the intricate features tailored to legal workflows, such as matter management, time tracking, and document automation.
On the other hand, legal-specific solutions are crafted to address the complex nature of legal department and corporate counsel workflows. While legal-specific software is usually more expensive upfront, they provide tailored functionalities, seamless integration with legal databases, and compliance features.
Legal work requirements demand specialized tools formulated specifically for legal departments and corporate counsel.
Legal departments and corporate counsel can consider integrating legal-specific software into their legal workflows for the benefits it offers.
At the end of the day, the decision of which software to implement lies with the legal team’s size, budget, and specific requirements. Smaller organizations might opt for off-the-shelf solutions for basic needs, while larger firms handling complex cases often lean towards specialized software for efficiency and accuracy. Legal-specific software is curated and designed by teams of experienced attorneys and technology experts to deliver solutions that offer robust data security with efficient workflow management and helping teams stay compliant.