2014 was a great year for LegalTech. Despite the false rumors of its demise via TechCrunch, LegalTech grew stronger than ever in 2014. Along the way, Law Insider got the opportunity to meet and interview many of the best LegalTech start-ups.
On behalf of Law Insider, Preston and I would like to thank you for making our blog apart of your LegalTech reading list in 2014. We are really turning up the dial in terms of articles in 2015, and we hope you’ll come along for the ride.
Without further adieu, here are your most read LegalTech articles of 2014 (ICYMI):
“If you’re a young lawyer, one thing you expect to do a lot of is work. And this is a great place to invest those hours. I would much rather invest 80 hours a week working to build a tech start-up than meeting my billable hours. I’m betting my money on an expanding market, not a shrinking one.”
“Is there room in the legal profession for lawyers to deliver a subscription service that runs parallel to legal services? Lawyers maintain newsletters and blogs to try to stay in front of prospects and former clients, but what if they could actually charge for a service that provided value year-round but didn’t eat up billable hours?”
“Legal Tech. These are the buzzwords of late that make lawyers shudder, entrepreneurs giddy and venture capitalists excited, yet weary at the same time. So what do these words mean?”
“Shake was created around the basic idea that any deal worth shaking hands on is worth getting in writing. Our team of founders saw a clear need for a platform that would give freelancers, small businesses and consumers the ability to legally protect themselves using technology they already had access to. Beyond just making the law accessible, we also wanted to create contract templates that were easy to understand. Coming from a startup and freelance background myself, I’ve encountered so many contracts that were needlessly confusing and wordy. Shake’s templates are simple and concise without sacrificing legal validity. Attorneys have meticulously drafted our templates so that consumers can feel comfortable with and confident in the agreements they create using Shake.”
“In tech, it’s common for “cool” consumer facing products to get all the attention (look, drones!). LegalTech is no exception. Some of the most exciting LegalTech startups out there are indeed consumer facing (examples here and here). But while the masses are easily distracted by the “cool” of B2C, the more business minded among us, should take a hard look at the success of B2B LegalTech start-ups like Lex Machina.”
This article is a complete Twitter recap of LegalTechSW.
“We need good lawyers. The Internet has been incredibly empowering, but it’s still in the beta stage. Legal frameworks haven’t adapted well to the digital environment. For me, the big question is: can we write laws to govern the digital age to protect basic rights and freedoms? And can we do it without getting in the way of innovation? The laws we’re writing will decide how we value privacy, creativity, free speech, and much more. It depends on code as much as law.”
“Nearing its second birthday, Viewabill, has been in the game long enough now to have learned a thing or two about how to succeed in the LegalTech space. Co-founded by Harvard legal scholar, Alan Dershowitz, Viewabill is a cloud based solution that delivers real-time access and insights into legal billing, activities, and time entries. The primary goal of Viewabill is to create real-time transparency of the oft-criticized and notorious “billable hour“.
“While the tradition of legal research platforms and tools is extensive, there’s been a recent boom in technology companies targeting a broader swath of legal tasks and problems. These kinds of tools can significantly improve the practitioner experience, and they are popping up at an unprecedented rate. As such, there has never been a more exciting time for those lawyers, law students, or legal dilettantes interested in technology and business to consider a career contributing to the development of next-generation legaltech.”
Happy New Year from Michele and Preston.