LegalTech, the evolution of the consumption of the Law

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In recent years now, the legal sector has evolved marked by LegalTech. At the heart of digital technology, companies provide legal companies with tools to automate some of their services. In this rapidly evolving market, it is therefore natural that companies like Lexis Nexis come to legal players (accountants, lawyers, notaries, lawyers, lawyers…) to assess their needs and create the decision support tools most in line with their profession.

The digitalisation of a business focused on customer trust

A client, whether an individual, a company or a community, can call on the services of a lawyer for many needs: corporate law, real estate rights, family law, etc. The lawyer places himself in a relationship of trust with his client, accompanying him and helping him to solve the difficulties encountered or to put in place legal procedures related to the evolution of the company. To the extent that the core of the lawyer’s profession is to build files for each client with documents that have been sent to him, with regular appointments by phone or in physics, the question of using dematerialized solutions quickly arose.

Some firms, such as CG Lawyers or LLC and Associates, located in Bordeaux, use secure software that allows them to exchange dematerialized information with their clients, and between employees. This allows, on the one hand, to significantly limit the amount of printed documents, and thus to take a step towards more responsible consumption, while limiting the amount of records stored in offices, and archives. Indeed, LLC and Associates has been awarded for the twelfth consecutive year with the ISO 9001-14001 label, which is suitable for environmental protection and sustainable development.

Dematerialize to better manage

For a large group, where employees are located all over France, the dematerialization of data and documents allows real-time exchange of information, without the need to send everything by post, in order to save considerable time.

In addition, the customer benefits from a look at his file, with all the parts accessible, and the ability to transmit everything online directly, on a totally secure and encrypted system. This allows lawyers to reduce the number of calls, emails and mail sent, with more time to devote to the heart of the case, and the ability to implement collaborative law more regularly. Each lawyer practices in a firm with its own specialty, even if it is able to intervene in many cases. Collaborative law allows several lawyers to intervene in the same case, bringing their expertise directly related to their specialty, in order to bring all the solutions to the client. This is an increasingly common practice, which makes digitalization easier, especially if employees work in different offices.

LegalTech, synergy and collaboration in an unredeal market

In France, the Legaltech market is growing quite weakly. And for good reason: according to a study conducted by Law News and Maddyness in 2018, 33.3% of legaltechs have been slowed in their growth because of regulatory constraints, such as the recognition of electronic signature, one of the symbols of the dematerialization of documents, open data etc… While 2017 was the year of Legal Tech’s peak creation in France, 2018 saw a significant drop, linked to this bridging that demonstrates the very relative maturity of the market. It is for this reason that incubators specialized in the support of Legal Tech have been created, like the Incubator of the Bordeaux Bar (IBB), created in October 2017.

Indeed, Bordeaux followed the movement after the launch of several cities such as Paris and Marseille, the aim of this institution being to train all lawyers in technological and digital innovations so that the profession of lawyer can be in line with the new needs and new demands created by digital. Its objective is to position itself as an accompanist in this training, while guaranteeing respect for the main principles conveyed by the legal profession.

In a national market with more than 180 Legal Techs, most of which are in Paris, Bordeaux has only five: Juridip, LegalVision, LegalVision Pro, Hellia and TPE Qube. With their own positioning, both for a B to B or B to C contact, these players have a market to exploit by following developments and needs.

From trade shows to data, digitalizing legal

To do this, national events are dedicated to them, like the Lexis Nexis conferences, which take place all over France, especially on Bordeaux soil, or the Event Fin and Tech Summit, held in Bordeaux on October 8 and 9, 2019. An ideal opportunity to meet and exchange with all finTech, LegalTech, RegTech (development of regulatory technology) or InsurTech (dedicated to the insurance industry), focus on the customer experience and improve the automation of the exchange of legal data. For example, the conferences address issues related to cybersecurity and blockchain, artificial intelligence or big data, which are central to the issue of digitalization of tools.

Digital breaks boundaries and allows all sectors of activity to facilitate the transmission of information, communication and to make a gesture in favour of the environment by significantly limiting paper consumption. While for some people the evolution of these professions appears to be a compromise of information security, at a time when data protection is the focus of attention, for others, the evolution of forms of the consumption of the Law as such must follow this digitalization. A profession where confidentiality and professional secrecy are essential, the software available to lawyers is secure, focused on blockchain, encryption and tokenization, in order to make any pirated information unusable and unreadable.

Sources:

Lexisnexis

Florent VERDIER, The Man Before the Lawyer, BORDEAUX Business

LegalTech French – Trends 2018 – Law News

Barreau de Bordeaux

French Tech Bordeaux – LegalTech Bordelaises

Fin and Tech Summit

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