LegalTech, the evolution of the consumption of the Law

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The development of LegalTech has marked the professions of the legal sector for a few years now. Today in France, the legal market represents 40 billion euros, or 2% of GDP. Faced with the multiplication of legal needs, the sector has once again become a creator of jobs. It benefits from a constant growth that does not seem to fade. To meet these challenges and meet the needs of legal professionals and clients alike, legaltechs have emerged to simplify and strengthen access to law. Like all parts of society, digital technology and platforms have imposed themselves, to the benefit of humans.

At the heart of digital, legal companies are taking possession of the tools to automate part of their services. In this market in full (r)evolution, it is therefore natural that companies present themselves to the actors of the legal sector. Chartered accountants, lawyers, notaries, jurists… Like Lexis Nexis solutions, they assess their needs and expectations. To create the decision support tools most in tune with their business.

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Estates General of Justice; the role of legaltechs

The Head of State announces new objectives to reform the French judicial system. Accused of laxity and slowness, the judicial system is the subject of increasing criticism. Also, to remedy this, Emmanuel Macron announces that he wants to “draw up a state of the situation of justice” and “put it at the center of the democratic debate”. To this end, it is launching a five-month consultation, calling on legal professionals, students and citizens to discuss these measures. Among the major topics of modern law and justice, the role of legaltechs in procedures and professions. And in particular to facilitate and accelerate decision-making.

The consultation therefore addresses the issue of supporting legal professionals to move towards faster and more efficient justice. Then, what role AI has to play in legal decision-making processes. Or how to rely on LegalTechs to perfect the judicial system.

LegalTech, the digitalization of a business focused on customer trust

A client, whether an individual, a business or a community, can use the services of a lawyer for many needs. Corporate law, real estate law, family law, etc… The lawyer places himself in a relationship of trust with his client. He accompanies him and helps him to solve the difficulties encountered or to set up legal procedures related to the evolution of the company. Since the core business of the lawyer 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 Avocats or LLC & Associés,located in Bordeaux, use secure software. Which allow them to exchange dematerialized information with their customers, and between employees. This makes it possible on the one hand to considerably limit the quantity of printed documents, and therefore to take a step towards a more responsible consumption; on the other hand, to limit the amount of files stored in offices, and archives. Thus, LLC & Associés has been rewarded for the twelfth consecutive year with the iso label 9001-14001, specific to the protection of the environment and sustainable development.

Dematerialize to better manage

For a large group, dematerialization is vital. Whether within the same institution, or to communicate with teams around the world. This dematerialization of data and documents makes it possible to exchange information in real time. All without the need to send everything by post, in order to save a considerable amount of time.

In addition, the client thus benefits from a look at his file. It accesses all the parts and the possibility to transmit online directly, on a secure and encrypted system. This allows lawyers to reduce the number of calls, emails and mail transmitted. They therefore devote more time to the heart of the matter. It is also an opportunity to implement collaborative law more regularly.

Each lawyer usually practices in a firm with its own specialty. And this, even if it is able to intervene on many cases. Collaborative law allows several lawyers to intervene in the same case. They thus bring their expertise directly related to their specialty, in order to offer the best solutions to the customer. This is an increasingly common practice, which digitalization facilitates further. Especially if employees work in different offices.

LegalTech, synergy and collaboration in an unredeal market

In France, the Legaltech market is developing quite slowly. And for good reason: according to a study conducted by Actualités du Droit and Maddyness in 2018, 33.3% of legaltechs were hampered in their growth because of regulatory constraints. Recognition of the electronic signature, one of the symbols of the dematerialization of documents, open data etc … If 2017 was the year of the peak of creation of Legal Tech in France, 2018 experienced a significant fall, linked to this clamping which 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 Bordeaux Bar Incubator (BWI), created in October 2017. However, some great fundraising is taking place for the most promising projects, such as LegalVision Pro.

Indeed, Bordeaux followed suit after the launch of several cities such as Paris and Marseille. The goal of this institution is 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 that digital creates. His objective is to position himself as an accompanist in this training. While ensuring respect for the main principles conveyed by the legal profession.

In a national market that has more than 180 Legal Tech, most of which is 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, events on a national scale are dedicated to them. Like the Lexis Nexis conferences, which take place all over France, especially on Bordeaux soil. Or the Fin&Tech Summit event, which was held in Bordeaux on 8 and 9 October 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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