LEGALTECH INNOVATION BY MAJOR LAW FIRMS
Davis Polk & Wardwell beta-launched a new cybersecurity assessment portal (currently for clients only) that helps identify cyberattack or breach notification requirements under state, federal and international laws. The tool asks if the client owns or processes certain data, and if the client is regulated by the Gramm-Leach-Bliley Act, the Health Insurance Portability and Accountability Act or other U.S. laws. Further questions include if the data breached was in electronic or physical form, the types of personal information breached, and what state the client conducts business in. The portal offers:
- Automated notification letter templates that satisfy pertinent cyber breach notification laws.
- Breach notification statutes updated by legislation or case law and sample notices used to alert authorities and individuals of compliance.
- Tabletop exercises to mock a standard breach, ransomware attack, or a cloud breach
- Checklists for cyber incident preparedness, General Data Protection Regulation breach notification, data process assessment, and what to do when a client pays or doesn’t pay a ransom, or when its vendor is breached and data is held for ransom.
Companies can use the portal’s tabletop exercises to demonstrate their cybersecurity preparedness to regulators, specifically in terms of their breach notification obligations.
INSIGHTS FROM LEGALTECH INNOVATION LEADERS
- On the Changing Legal Industry: In-house legal teams are being measured and evaluated like business units from an efficiency and productivity perspective. Legal departments are being challenged to justify every element of their operations and activities. Resources are tight and legal teams are also being asked to do much with little, which puts a lot of pressure for legal teams to become innovative and creative in the way they deliver service to their clients.
- On Big Data and Law Firms: The legality around the transaction of data is yet to be completely defined and will task legal teams across all industries and companies. From a user perspective, legal departments will turn to big data as they try to further become operationally efficient and prove their value.
- On Machine Learning (ML) & Artificial Intelligence (AI): The use and application of ML and AI in the in-house environment allows legal departments to implement solutions to permit their clients to engage in self-help without having to involve the legal department on every item, such as NDA reviews and processing. This relieves the in-house departments to be more proactive and embedded in our core business, rather than being consultants on day to day minutia. [Above the Law, Sep 25]
- On Better Management of Law Records: The problem is that court records are siloed and each court does things their own way. Each court stores and organizes records differently, uses different technologies, and has its own nomenclature. Retrieving data from the various courts is a cumbersome, time-consuming, and expensive. Automated solutions like UniCourt helps in the aggregation and standardization of court data across jurisdictions.
- On the Role of Attorneys in LegalTech Firms: In order to run a LegalTech company, you don’t need to be an attorney. Domain expertise is less important than problem-solving, and engineers are good problem solvers. In Silicon Valley, physicists and engineers rule, and that will be the case one day soon in the LegalTech sphere, which underscores the importance of having people who know how to work with lots of data and are good problems solvers. [Forbes, Sep 25]
- On AI: The application of AI can be divided into three major groups: (1) Search technology for identifying relevant documents; (2) Tools for extracting structured information; and (3) Decision prediction and risk assessment.
- On the Limits of Legal Tech: Looking at the literature on Legal Tech, it seems to be the prevailing opinion that Legal Tech alone will have an auxiliary function. This assessment seems very optimistic. For surely it is right that the lawyer should not rely blindly on technology. But even today, companies are already working on and analyzing contracts themselves, conducting transactions and due diligence themselves using currently available technologies. This trend will intensify if software applications achieve good analysis results. Then it is very conceivable that the pure auxiliary technology becomes a decision-making technology.
- On the Adoption of Right Mix: The right mix of automation depends on a firm’s service offerrings in the areas of data protection, money laundering, IT security, compliance officer or whistleblower service. Combining such services with marketable Legal Tech offerings is not a “rocket science”. [Christoph Schalast LegalTech Blog, Sep 27]
NEW LEGALTECH PRODUCTS AND PARTNERSHIPS
ContractPodAi now Integrates Workshare Doc Comparison
- IBM Watson-backed contract creation and lifecycle management tool ContractPodAi has teamed up with Workshare to integrate its document comparison technology into the CLM platform, aimed primarily at in-house lawyers.
- ContractPodAi users assemble, automate, approve, sign and manage their contracts within the platform and the new integration with Workshare Compare Server will enable them to save time during the contract review or renewal cycle. Commenting on the development, Sarvarth Misra, the Founder and CEO at ContractPodAi, mentioned:
We see embedding and automating elements of file comparison in the contract review process as the intuitive next step in developing and enhancing our user experience. [Legal IT Insider, Sep 27]
ReadySuite Improves Relativity Integration
- Compiled, the developers of litigation support and e-discovery software ReadySuite, announced the release of the latest version of the software with new features that will save time and add quality control for Relativity users. The release comes just days before Relativity Fest, Relativity’s annual conference, for which Compiled is a sponsor.
- The new features allow ReadySuite and Relativity users to open load files, volumes and productions in ReadySuite and push the data directly into Relativity with a single process. The software allows users an additional measure of quality control when it comes to producing documents for e-discovery. Its features help law prevent accidental disclosure of redacted documents or those designated as attorney/client privileged. [Legal IT Insider, Sep 27]
Clapham & Collinge Solicitors select Eclipse Proclaim PMS
- Eclipse Legal Systems, a law society-endorsed legal software provider, announced the selection of its Proclaim Practice Management Software solution by Clapham & Collinge Solicitors. Eclipse will implement the system across all the firm’s departments – including Family, Conveyancing, Commercial, Court of Protection and Probate.
- To effectively manage the increasing volumes of incoming enquiries, the firm has also taken Eclipse’s New Business Enquiries toolset to enable the Client Relations team to manage leads, strengthen the client onboarding process and complement the overall client experience. [Legal IT Insider, Sep 27]
LEGALTECH CONFERENCES: UPDATES
Legal Technology Conference Launches In Sheffield, England
- The LegalTech North Conference aims to bridge the gap between law and technology, bringing lawyers together with innovative tech solutions. The one day event, to be conducted in November 22 at Sheffield Hallam University Student’s Union, will explore how technology can be used to resolve key challenges facing law firms today. The conference will also see the launch of a new legaltech incubator. [Today’s Conveyancer, Sep 27]
The Changing Legal Office
- Joe Patrice, a Host on Legal Talk Network and an Editor in Above the Law, recently conducted a chat with the executives from the eDiscovery platform, Casepoint. The company CEO Haresh Bhungalia and the Chief Strategy Officer David Carns discussed about how the general legal technology landscape is changing the legal workflow. To listen to this podcast, click here.
Harnessing Innovation for the Legal Industry
- In a recent episode of Law Technology Now, host Monica Bay talks to Daniel Linna, a Visiting Professor of Law at Northwestern Pritzker School of Law, about how lawyers should think about technology and innovation. He shares his experience demystifying technology for students and how lawyers should approach the idea of innovation. To listen to this podcast, click here.