With this LegalTech blog, we aim to inspire engagement with legal technology tools in a creative and transformative manner. Most of our posts are inspired by project work with our LegalTech Marketplace partners and contain references to their solutions. We share strategic insights to help increase the value of legal services and optimize business processes.
‘Legal data analytics’ is a buzz term which implies that lawyers must have a sophisticated knowledge of numbers, data visualisation and analytics. Yet data – and specifically legal data – can be extremely simple and help understand the value of […]
Press time for the European Legal Technology Association (ELTA) - an organization we are closely affiliated with in Hungary and across the Central Eastern Europe (CEE). In its latest issue released in February 2020, The Legal Technologist featured ELTA Board Members' and Ambassadors' (including InvestCEE founder & CEO Orsolya Szabó) perspective on legaltech with a look back at 2019 and a forecast for 2020 - meaningful insights from the various European jurisdictions. Here's to another exciting year for the European legaltech scene!
Managing the contract lifecycle and making the most of contract data is one of the all-time top priorities of corporate legal teams. Improving contract management efficiency is easier with new technologies, yet there's typically a gap between the importance of these challenges and success in solving them. Given there are many contract lifecycle management (CLM) solutions available on the market, it is rather confusing to understand which capabilities really drive the most value. Here's a summary from our partners from Aivan.ai explaining how they differentiate their tool on the legaltech market.
In a changing legal market -- responding to a data-driven economy -- companies and law firms often play it safe, look for the perfect solution and wait for the right moment to jumpstart innovation of legal workflows. Investing into technology requires some expenses and the return on investment is often difficult to predict. Clearly, legal technology acquisitions need to be carefully and strategically considered. Yet study after study shows: strategic thinkers are found to be among the most highly effective leaders, and those organizations that look to the future and take well-managed risks are the ones that persevere and grow. We help apply this wisdom in legal innovation context.
A couple of years ago, legal technology (legaltech) was still an unnoted topic of discussion among most lawyers in Central Eastern Europe (CEE). Even in more mature legal markets, the legaltech sector was just picking up, but often still poorly defined. Today, innovative software tools targeting the legal industry are being developed across Europe and legaltech startup maps are increasingly populated in several local jurisdictions. Our team at InvestCEE LegalTech Consultancy decided to look more closely at various legaltech solutions originating from the CEE region specifically and to provide an overview of this nascent market. We are excited to release the final version of the CEE legaltech report today!
Smart data management, contract analytics or AI-assisted contract management are some of the various terms used to describe technology tools that help more efficiently access and assess information embedded in contracts. While traditional document management systems force us to carry out and execute routine operations manually (like searching for specific phrases or sections in contracts, reporting on contract data, etc), smart technology helps to automate most of these manual tasks.
In September 2019, the third edition of the Legal Design Summit (#LDS2019) took place in Helsinki, Finland. With its six hundred participants from all around the world, #LDS2019 was the largest legal design event so far -- and the first event of its kind that the InvestCEE professional designer team attended. In this blog post, we share the take-away notes by our designer Forián-Szabó Ferenc.
In 2019, InvestCEE launched a project to determine and quantify key players enabling innovation of legal services across Central Eastern Europe (CEE). We are quite excited about this first regional study aimed to examine a new market currently carving out an innovative aspect of legal services, often referred to as newlaw. This blogpost is a sneak peek into our research project and the more detailed report to follow.
Growing from a simple idea into a dominant legal innovation event in Central Eastern Europe (CEE) was as quick as lightning for the Innovative Legal Services Forum (ILSF). Our team shared know-how at two interactive and practical workshops on the pre-conference day just to see specific aspects of our approach reinforced by a number of speakers on the main conference day. This blogpost contains our takeaway notes and an excerpt of our workshops.
On May 15, 2019, InvestCEE LegalTech Consultancy hosted a webinar organized by the European Legal Technology Association (ELTA) regarding practical aspects of implementing document automation for law firms and corporate legal departments. The panel of experts included Kaisa Kromhof and Hannele Korhonen from our legaltech partner Contract Mill.
Thomson Reuters recently issued their report, ‘Alternative Legal Services Providers 2019’ (the 2019 ALSP Report), which assesses the impact of newlaw players across the legal services industry. The study’s sample of 550+ decision makers was drawn from the US, Canada […]
On November 14, 2018, InvestCEE co-hosted the first legaltech meetup & workshop in Hungary on the topic of digital contracting. The event was co-organized jointly with InvestCEE’s partners: vendors from our LegalTech Marketplace (Contract Mill and Dealsign) and Klart Legal, a […]