This Intel Brief covers LegalTech and Innovation news from?Oct 7 - 14, 2022. Access the content from past briefs?here.
LEGALTECH PARTNERSHIPS, LAUNCHES, AND INVESTMENTS
SHEARMAN & STERLING LAUNCHES LEGAL OPERATION SERVICE
- Shearman & Sterling, a New York-based global law firm, has launched Legal Operations to offer a range of services including legal tech help, data analytics, and in-house department design.
- The ‘Legal Operations in Your Pocket’ facility, will be a subscription-based service where experts at Shearman will provide legal ops-related advice.?[Artificial Lawyer, Oct 11]
SHIELDPAY PARTNERS WITH CASE PILOTS FOR UK CLASS ACTION LAWYERS?
- Shieldpay, a provider of payment solutions has partnered with?Case Pilots?to integrate its digital mass disbursements payment service into Case Pilots’ group action administration platform. Clients can use Case Pilots to manage claims and pay out compensation awards for opt-in and opt-out cases across the UK and Europe.?[Legal Technology, Oct 12]??
ASHURST LAUNCHES NEWLAW VIRTUAL EXPERIENCE PROGRAMME
- Ashurst, a global law firm, has launched an Advance Virtual Experience Programme.
- Ashurst offers virtual internship programmes that immerse participants in the world of law.?[Ashurst, Oct 7]
LEX MACHINA INTRODUCES COURT ANALYTICS FOR CHAPTER 11 BANKRUPTCY CASES
- Lex Machina, a legal analytics platform, has introduced a Chapter 11 bankruptcy module that provides legal analytics for over 115,000 Chapter 11 proceedings. The module includes the entire docket in any bankruptcy proceeding filed after 2009 in a U.S. Bankruptcy Court under Chapter 11 of the bankruptcy code, which helps companies to reorganize and keep their businesses operating while paying off creditors over time.
- The module adds filters for cases involving business debtors, voluntary petitions and confirmed plans. It incorporates tags specific to bankruptcy practice to filter for specific aspects.?[LawSites Blog, Oct 6]
WILSON ALLEN PARTNERS WITH CRAYON
- Wilson Allen, a provider of legal technology consulting and services, has partnered with?Crayon, a provider of cloud services, to provide cloud-enabled analytics solutions by combining Crayon's expertise in IT services and innovation with Wilson Allen's professional services sector.
- Crayon has also collaborated on the new business intelligence offering called the Wilson Data Cloud which provides firms with an extensible and responsive analytical platform that can evolve as new business initiatives arise.?[Market Screener, Oct 11]
OTHER LEGALTECH NEWS
FT ANNUAL RANKING OF LAW FIRMS & INNOVATIVE LAWYERS 2022- EUROPE
- The FT?annual ranking?of law firms now uses a broader range of indicators to assess the success of commercial law firms, including scores for people strategies, financial growth profitability over three years, digital maturity, and client mentions. FT notes that “firms have mainly been laggards on environment, social and governance questions.”?
The Financial Times “Innovative Lawyers 2022 for Europe” awardees are listed?here. The innovation report covers many topics, including the following:
- In Ukraine, lawyers are preparing for reconstruction and potential reparations claims.?
- European law firms have reported record revenues but economic recession is casting a shadow.
- Climate change matters - Lawyers are using litigation and advice to hold leaders to account on green claims.??
- Law firm staff and clients want changes in terms of human resources strategies, digitisation, revenues and profitability.?
- Clients want law firms to mirror their priorities, values and approaches to work (hybrid working, better parental leave, flexible working arrangements).?[Financial Times]
REPORT: CHALLENGES FIRMS FACE WHEN IT COMES TO CLOUD TECHNOLOGY
- PracticeEvolve, a provider of case management software solutions, has partnered with Legal Practice Management, and has released a?Legal Industry Outlook report?outlining the challenges firms face when it comes to Cloud technology.
- 161 business leaders and representatives were surveyed on business objectives, Cloud strategy, returns on investment, digital competency, the state of integration, to understand cloud technology, and discover pain points and goals for improvement.?[Legal IT Professionals, Oct 12]
START UP: THE LAW MACHINE PROVIDES SOLUTIONS TO CONTRACT STANDARDISATION
- The Law Machine?provides contract automation services, that allows clients to build a new contract from an array of clauses and definitions displayed on the interface. Those clauses can be edited if needed, and then specific data for that agreement is added in.?[Artificial Lawyer, Oct 11]
LEGALTECH EVENTS, WEBINARS, CONFERENCES AND PODCASTS
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