Although most popularly associated with cryptocurrency like BitCoin, blockchain technology has several other use types. In the world of law, blockchain can be used as a digital ledger that holds vast volumes of data. This can include case studies, subject matter, case outcomes and more.
NDAs are commonplace not only in business transactions but also in the political and entertainment world. With the ever growing need to protect information it becomes more crucial to know which type of NDA would be more useful, the scope of confidential information, and the stipulations to bear in mind while drafting an ironclad agreement.
In this day and age, it would not be incorrect to say that Artificial Intelligence (AI) and Humans are joined at the hip.
Processing a single tree to create 17 reams of paper emits over 100 pounds of CO2 into the atmosphere.
A recent ILTACON panel suggests that $5 billion has been invested in legal technology in the past few years.– Artificial Lawyer
Legal departments and general counsel...
You’ve probably come across artificial intelligence (AI) tools and software already, with AI-powered legal technology gaining popularity for its myriad benefits. AI in all its forms impacts the world around us, including the legal industry.
Contract management involves reviews, analysis, and other measures adopted to keep track of contracts throughout their life cycle. This process affects both pre-contractual and drafting related matters. While contract drafting is considered to require unique human skills, multinational companies have favored contract management via technology in order to handle a large number of contracts on a daily basis. Though the concept of using technology in contract drafting was introduced in the 1990s, total automation remains a far-fetched concept.
The future of law is in predictive analytics, with a focus on legal analytics. According to a Bloomberg report, the predictive analytics (PA) market size is slated to hit $23.9 billion by 2025. That’s big money, and you can enjoy a piece of this sweet pie by integrating predictive analytics in your law practice.
Their (cloud-native legal solutions) widespread adoption will allow organizations to hook up their practice management systems with their unified communications...
The legal system is undergoing a technological revolution and Artificial Intelligence (AI) is the new buzz word. AI can serve as a substitute for lawyers for performing routine, non-billable and structured tasks such as basic documentation and contract drafting. AI-enabled personal assistantprograms can efficiently handle administrative operations in law firms such as payroll and resource management, scheduling meetings, and client billing. Similar AI programs are available in the market for hiring paralegals and associates, and helping them complete document reviews and formatting in specialized practice areas like patent applications. AI can also help law firms monitor their time and activities, and generate electronic billing.