Legal technology and innovation encourage “tidal wave” of law start-ups

Traditionally, law firms follow the conservative nature of the industry, and when it comes to technology, they tend to be risk-adverse and slow adopters. But as younger generations enter the workforce and want to keep up with global technology trends by implementing new processes and ideas, when facing such resistance from superiors, young lawyers choose to do it on their own, and set up new concepts of legal services provision.

While there are quite a number of NewLaw firms in Australia, this is still just the beginning – the real change will come when apps are perfected and become main-stream. Experts believe once this law start-up wave begins, it will lead a change in the way tradition law firms do business and adopt technology.

There are some international law firms that have decided to take action, and that are actively doing research and investing in app and technology development – these are the companies leading the way. In Australia, Gilbert + Tobin and King & Wood Mallesons are known to be working with Neota Logic, developing apps. However, compared to the amount of capital being invested in legal technology and innovation in Canada and the USA, Australia – and the rest of the world – still has a long way to go.

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