Thu.Aug 03, 2023

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AI-Pocalypse: The Shocking Impact on Law Firm Profitability

3 Geeks and a Law Blog

by 3 Geeks ( Ryan McClead , Greg Lambert , and Toby Brown ) This is part 3 in a 3 part series. Part 1 questions Goldman’s Sachs data showing that 44% of of legal tasks could be replaced by Generative AI. In Part 2, we find some better data and estimate an upper limit of 23.5% of revenue that could be reduced by Generative AI. All of our assertions and assumptions will be discussed in further detail in a free LVN Webinar on August 15th.

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Trademark Docketing Software Company Alt Legal Acquires Customers Of Competitor TM Cloud

Above the Law - Technology

In its fourth acquisition, Alt Legal , the cloud-based trademark docketing software company, has acquired the docketing business and customers TM Cloud , a competing provider of trademark and IP docketing software. With TM Cloud having customers both throughout the United States and globally in Europe, Africa and Australia, the acquisition enables Alt Legal to grow its base of customers.

Software 242
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Alt Legal acquires business of trademark docketing software competitor TM Cloud

Legal IT Insiders

Kansas City-headquartered automated trademark docketing software provider Alt Legal today (3 August) announced that it has acquired the business of competitor TM Cloud. As part of the transition, TM Cloud … Alt Legal acquires business of trademark docketing software competitor TM Cloud Read More » The post Alt Legal acquires business of trademark docketing software competitor TM Cloud appeared first on Legal IT Insider.

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LexisNexis Lays Out More Details On Its Collaboration With Microsoft To Roll Out Generative AI Products

Above the Law - Technology

New information about the products being developed through the LexisNexis-Microsoft collaboration. The post LexisNexis Lays Out More Details On Its Collaboration With Microsoft To Roll Out Generative AI Products appeared first on Above the Law.

Law 202
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Visibility Into the Strategy & Supporting Documents of Major US Law Firms

Law Firm Intelligence by Trellis aggregates state trial court data across the Trellis platform enabling users to: look up a particular metric related to a specific law firm (such as, how many cases a law firm had or has against another law firm), and see the actual dockets and documents supporting the metric. Trellis data is maximized in a revolutionary and unique way to provide users an exclusive look into a law firm litigating in state trial courts.

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Citing ‘Political Challenges,’ ABA Innovation Center Cancels Op-Ed Advocating Regulatory Reform; In An Exclusive, We Have the Piece They Wouldn’t Publish

LawSites

Citing “political challenges” within the American Bar Association, and reportedly out of fear of budget cuts or even its own shutdown, the ABA’s Center for Innovation canceled publication of an op-ed arguing in favor of regulatory reform, only notifying its authors on the day it was to have been published this week. This comes as the ABA convenes its 2023 annual meeting this week in Denver, where the Center faces both budget-review meetings and a change in the composition of th

Lawyer 92
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Key Takeaways on eDiscovery/eDisclosure, Info Governance and Collaboration from The Master’s Conference in London

CloudNine

By Rick Clark Highlights from this event are covered below. Exceeding Corporate Client Expectations The first session of the conference, moderated by Richard Clark from CloudNine, focused on introducing new ways of deepening the relationship between corporate in-house and outside counsel. The discussions led by Janice D’Costa from Meta and Amie Taal from Stratagem Tech showcased innovative and clever ways to surpass corporate client expectations.

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In the News

iPhone J.D.

When Apple first started producing TV shows and its first original show was Planet of the Apps , I had my doubts about what might come next. But ever since the start of Apple TV+ with just a few shows on November 1, 2019, the quality of the programming has steadily improved to the point where Apple TV+ is now perhaps my favorite streaming network. Case in point: this week, Apple aired the seventh and final episode of the show Hijack , and I thoroughly enjoyed it, just as I have every other episo

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Citing ‘Political Challenges,’ ABA Innovation Center Cancels Op-Ed Advocating Regulatory Reform; In An Exclusive, We Have the Piece They Wouldn’t Publish

Legal Tech Monitor

Citing “political challenges” within the American Bar Association, and reportedly out of fear of budget cuts or even its own shutdown, the ABA’s Center for Innovation canceled publication of an op-ed arguing in favor of regulatory reform, only notifying its authors on the day it was to have been published this week. This comes as the ABA convenes its 2023 annual meeting this week in Denver, where the Center faces both budget-review meetings and a change in the composition of the governing counci

Lawyer 52
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The 2023 “Start Stop” Survey is Here! Please Respond by Friday August 29th

Dewey B Strategic

This survey is intended to gather feedback on both products and projects which you started or stopped during the past year. I had added additional questions related to the emergence of generative AI. Please take a few minutes to respond to the survey at this link. The results will be summarized and posted here in late September. In addition, Dewey B Strategic blog has partnered with HBR Consulting to create the latest Start/Stop survey.

Law 52
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Trademark Docketing Software Company Alt Legal Acquires Customers Of Competitor TM Cloud

Legal Tech Monitor

In its fourth acquisition, Alt Legal , the cloud-based trademark docketing software company, has acquired the docketing business and customers TM Cloud , a competing provider of trademark and IP docketing software. With TM Cloud having customers both throughout the United States and globally in Europe, Africa and Australia, the acquisition enables Alt Legal to grow its base of customers.

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Stay On Top of Newly Filed State & Federal Litigation: Curated Just for You!

With Daily Filings Report by Trellis you will receive an email and csv file daily with all new cases filed in the jurisdictions you're tracking. Each new case will include all case metadata like judge, parties, counsel, practice area, and even direct links to the full docket and complaint. Trellis Daily Filings Reports provide direct access to newly filed state and federal litigation curated just for you.

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What Marketing Automation is Best?

Lawmatics

Marketing Automation Software: The Best Investment for Law Firm Growth Staying ahead of the competition requires more than just legal expertise for law firms. Law firms must leverage tools to streamline marketing operations – like automating repetitive marketing tasks and finding ways to enable personalized client interactions at scale. Why Invest in Marketing Automation Software?

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Free Webinar Today: Demystifying AI for Legal Contract Review

Legal Tech Monitor

Today at 1 p.m. ET, I am moderating panel, “ Demystifying AI for Legal Contract Review ,” that will take a concrete look at how one organization incorporated AI into its contract management processes — and how your organization can do the same. Presented by LexCheck and Above the Law, the panel will cover: How to decode and contextualize AI buzzwords.

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Free Webinar Today: Demystifying AI for Legal Contract Review

LawSites

Today at 1 p.m. ET, I am moderating panel, “ Demystifying AI for Legal Contract Review ,” that will take a concrete look at how one organization incorporated AI into its contract management processes — and how your organization can do the same. Presented by LexCheck and Above the Law, the panel will cover: How to decode and contextualize AI buzzwords.

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AI-Pocalypse: The Shocking Impact on Law Firm Profitability

Legal Tech Monitor

by 3 Geeks ( Ryan McClead , Greg Lambert , and Toby Brown ) This is part 3 in a 3 part series. Part 1 questions Goldman’s Sachs data showing that 44% of of legal tasks could be replaced by Generative AI. In Part 2, we find some better data and estimate an upper limit of 23.5% of revenue that could be reduced by Generative AI. All of our assertions and assumptions will be discussed in further detail in a free LVN Webinar on August 15th.

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How to Build a Low-Code Legal Tech Start Up (Chad Sakonchick – BetterLegal)

Technically Legal

Chad Sakonchick is a serial entrepreneur. After a stint selling computers for Dell, he launched his first technology company: an early SaaS platform that allowed users to easily create websites. From there, he launched an app that took online orders for food truck owners and then he launched Spacesift, which he describes as Airbnb for event spaces. Spacesift did fine, but he didn’t find startup traction until a few years ago when he convinced a lawyer buddy to let him automate the creation of LL

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The 2023 “Start Stop” Survey is Here! Please Respond by Friday August 29th

Legal Tech Monitor

This survey is intended to gather feedback on both products and projects which you started or stopped during the past year. I had added additional questions related to the emergence of generative AI. Please take a few minutes to respond to the survey at this link. The results will be summarized and posted here in late September. In addition, Dewey B Strategic blog has partnered with HBR Consulting to create the latest Start/Stop survey.

Law 52
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Summary of the Digital Personal Data Protection Bill, 2023

Ikigai Law

Our summary of the Digital Personal Data Protection Bill, 2023 The Digital Personal Data Protection Bill, 2023 ( 2023 Bill ) was tabled in Parliament on 3 August 2023. It is the fifth – and likely final – iteration of India’s efforts to formulate a personal data protection law. The 2023 Bill differs from its predecessor, the 2022 Bill. Key changes include: a negative-list regime for cross-border data transfers; removal of the reasonable purposes and public interest grounds of processing; exempti

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Podcast: Charting Change in Legal with Caroline Hill and Ari Kaplan, Ep 8

Legal Tech Monitor

In this eighth episode of Charting Change in Legal, Caroline Hill, Editor and Publisher of Legal IT Insider, and Legal Industry Analyst Ari Kaplan of Ari Kaplan Advisors, discuss the. Podcast: Charting Change in Legal with Caroline Hill and Ari Kaplan, Ep 8 Read More » The post Podcast: Charting Change in Legal with Caroline Hill and Ari Kaplan, Ep 8 appeared first on Legal IT Insider.

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Podcast: Charting Change in Legal with Caroline Hill and Ari Kaplan, Ep 8

Legal IT Insiders

In this eighth episode of Charting Change in Legal, Caroline Hill, Editor and Publisher of Legal IT Insider, and Legal Industry Analyst Ari Kaplan of Ari Kaplan Advisors, discuss the … Podcast: Charting Change in Legal with Caroline Hill and Ari Kaplan, Ep 8 Read More » The post Podcast: Charting Change in Legal with Caroline Hill and Ari Kaplan, Ep 8 appeared first on Legal IT Insider.

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Law Firms' M&A Technology Spending Likely to Rise, As AI Becomes More Vital

Legal Tech Monitor

Though M&A deal volume is dropping, investment in M&A technology is growing, according to Litera’s “Technology in M&A Report: AI, Tech Adoption, and Talent Management in the US and Canada.

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Bundledocs and Affinity Consulting Announce Strategic Partnership

Legal IT Professionals

Cloud-based document binding software provider Bundledocs today announced a strategic partnership with Affinity Consulting , a business and IT consultancy enabling and empowering legal teams of all sizes to work smarter.

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MIT Task Force Proposes Principles for the Responsible Use of Generative AI in Legal

Legal Tech Monitor

The Task Force has publicly released an early version of seven draft principles that establish a lawyer’s duties when using AI for legal work, and is inviting feedback from the industry.

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Double Billing in Law: How to Avoid the Unethical Practice

Clio

Billable hours are key to profitability for lawyers, yet billable work makes up a fraction of the work day. According to the 2022 Legal Trends Report , lawyers spend just 2.6 hours in an eight-hour workday on billable tasks. In order to meet the high-pressure demand for billable work, efficiency is key. But, when it comes to legal invoices, there’s a difference between maximizing productivity and crossing an ethical line with double billing.

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ChatGPT, Artificial Intelligence and the Lawyer

Legal Tech Monitor

In November 2022, OpenAI released ChatGPT. ChatGPT, along with other artificial intelligence (AI) tools, has dominated the conversation about cutting-edge technology and legal technology tools during 2023. The reactions have ranged from “the most entertaining thing on the internet” to an incredible new tool that will change society in a positive way to a corporate tool that will allow companies to be more efficient and profitable (often by a reduction in workforce) to a potentially dangerous dev

Lawyer 52
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Fliplet enables advanced AI features, finds the top 200 law firms are not harnessing the power of AI in their public apps

Legal IT Professionals

Fliplet, a leading no-code/low-code app building platform, has announced a breakthrough innovation that enables law firms to rapidly integrate AI features into their internal staff-facing and client-facing apps.

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Alt Legal acquires business of trademark docketing software competitor TM Cloud

Legal Tech Monitor

Kansas City-headquartered automated trademark docketing software provider Alt Legal today (3 August) announced that it has acquired the business of competitor TM Cloud. As part of the transition, TM Cloud. Alt Legal acquires business of trademark docketing software competitor TM Cloud Read More » The post Alt Legal acquires business of trademark docketing software competitor TM Cloud appeared first on Legal IT Insider.

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As Gen AI Explodes, Will Legal Tech Companies Get More Aggressive Protecting Company Secrets?

Legal Tech Monitor

Some legal tech organizations are rethinking their employment contracts in the face of the competition fueled by generative AI. Still, experts told Legaltech News they expect to see more litigation around employment contracts going forward.

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Starting a New Law Firm: Tech Considerations

Legal Tech Monitor

Starting a new law firm isn’t just about practicing law; it’s also about running a business. So preparing requires strategic planning, financial considerations, proper use of technology, and an assessment of your current effectiveness in using technology. Below are the main considerations related to technology. Case Management Software Case management software helps law firms manage their cases, including details about clients, case information, documents, billing, and schedules.

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New Litify CEO Talks Legal Tech Community, Gen AI's Impact on Practice Management, and More

Legal Tech Monitor

Curtis Brewer, the new CEO of Litify, spoke to Legaltech News about what excites him about the legal tech market, and how he expects artificial intelligence to impact practice management.

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Nervous System: The Tale of the Tape

Legal Tech Monitor

While the modern computer user might be tempted to giggle at the seemingly anachronistic sight of tape reels used for computer data, the technology never went away.

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Alt Legal Acquires TM Cloud's Docketing System, Accelerating Global Expansion

Legal Tech Monitor

In its fourth acquisition, IP and Trademark cloud docketing provider Alt Legal absorbed TM Cloud’s docketing system, attracted by its international customer base.

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Big Law, Nixing ChatGPT for Legal Work, Seeks Secure AI Solution

Legal Tech Monitor

"Generative AI can be like an overeager intern who wants to make you happy," said Kate Orr, global head of practice innovation at Orrick.

Law 52
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Twitter Successor X Corp. Files Suit Against Center for Countering Digital Hate, Claiming Unlawful Data Scraping Has Cost It Millions

Legal Tech Monitor

This complaint was first surfaced by Law.com Radar.

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