Legal Tech Goes Boom: What Does That Mean for Lawyers?

Most practicing lawyers are immersed in legal technology, without following the news about legal technology.  I understand that: I use Microsoft 365 everyday; but, I don’t follow the news about Microsoft’s larger machinations. 


 

Of course, legal technology is a smaller subset of technology; and, many states have now added Comment 8 to Rule 1.1 of their lawyers’ rules of professional conduct, which suggests that a lawyer’s general competency is tied to her competency respecting the use of law firm technology.  And, even if that doesn’t set up a requirement for lawyers to follow legal technology news, those same lawyers should at least understand that that news affects them in some significant ways.  In the first instance, more funding for legal technology companies and consolidation among software providers means changes to the technology you already use.  But, funding for legal technology also means that there will be new technologies coming to the fore, of which you should also become aware.  In many ways, #legaltech is in its infancy.  The law firms that become early adopters of new and improved technology should be able to add further efficiencies, in order to create a significant competitive advantage as against law firms that linger in older technology stacks. 

 

Listen to this podcast, for a pre-pandemic view of legaltech investment. 

 

Follow Bob Ambrogi’s blog for updates of corporate mergers and partnerships in the legal space. 

 

. . . 

 

If your legal tech knowledge needs a refresh, we can help. 

Through a unique partnership between the Maine Board of Overseers of the Bar and Jared Correia’s Red Cave Law Firm Consulting, Maine attorneys have access to experienced law practice management consultants at a special discounted rate. 

To get started, visit Red Cave’s landing page for Maine attorneys, and start running your law practice like a business.

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