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LawTech rankings

3

Core areas of Research:
• LawTech Vendors

• LawTech Consultants

• Incubators & Accelerators

LawTech Contract Analysis

• Using technologies – such as AI and machine learning tools – to automate the processing and interpretation of contractual documents in the legal market and beyond

• Assist in due diligence and risk reporting and in repapering exercises

• Allows for a more data-driven approach to contracts held across a whole business

LawTech Document Automation

• Automated document drafting using smart templating and real-time collaboration

• Some providers position their platforms as being suited to involvement from the inception of a transaction

• Modern interfaces allow for ‘no-code’ automation

LawTech Workflow Management & Service Platforms

• Growing community of providers of workflow tools

• Often providers’ client bases span multiple sectors, not just legal

• Additional benefits from interoperability and access to more detailed telemetry about efficiencies gained from technology application

LawTech Practice Management

• Tools aimed to provide a whole-practice overview and management suite

• Many tools integrate with other platforms, allowing practice leads to choose which products to use for which use legal cases and matters

• Cloud storage allows for more effective remote and real-time collaboration

LawTech Compliance & RegTech

• Wide variety of use cases, including in pre-employment checks, AML and remote identity-checking

• Some tools allow for real-time email and message monitoring to automatically flag up potential fraud

• Allows law firms and companies to mitigate increased data privacy burdens imposed by GDPR and other regulatory regimes

LawTech Consumer Services

• Aim to lower public barriers to participation in legal systems

• Some focus on small business owners without easy access to specialist expertise

LawTech eDiscovery & Dispute Resolution

• Variety of services that improve efficiency and accuracy in document sourcing and presentation, as well as in case management and collaboration for the legal sector

• Many of the platforms featured have played a central role in keeping courts operational during the pandemic

• Includes big data analytics services that help in giving prospects of case success given certain variables

Incubators & Accelerators

• Provide spaces for collaboration, knowledge-sharing and expert mentoring

• Increased opportunities for technology adoption, whether through affiliated firm or further afield

•Some focused on start-up and concept stages of development, others more active at the scale-up stage

LawTech Consultants

• Broad distinction between technical and strategic consultants

• Technical consultants assist in implementation and integration of chosen technologies

•Strategic consultants help firms understand what their desired future-state is, and work with them to decide which technological paths are best suited to achieving it

Simon Christian

Global Research Director

Chris Nicholson

Research Manager

Bingzhen Song

Research Manager