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Welcome to the January digest of top legal technologies information and resources for in-dwelling counsel and lawful operations industry experts. In this edition, you will read about the issues shaping legal and legal technology as we enter the new 12 months, including an envisioned increase in authorized disputes, the authorized engineering which is helping GCs do well and the likelihood that the elusive sabbatical may well appear to the in-residence entire world.
1. Practically a Third of International Firms Hope Disputes To Improve In 2022, Research Finds
According to a current report from world wide law business Baker McKenzie, nearly one-third of the world’s businesses count on to see an maximize in disputes in 2022. Not incredibly, problems related to COVID-19 and cybersecurity – two of the most substantial difficulties in the earlier 12 months – are predicted to be the major threats. Specifically, 57% of respondents mentioned cybersecurity disputes ended up most relating to for their companies, even though 48% observed the pandemic as developing the best exposure to potential authorized disputes. As we shift ahead in the coming 12 months, businesses should really be braced for an uptick in courtroom filings.
Source: The Global Authorized Post
2. The Software That Allows GCs Showcase Their Benefit
In the latest many years, legal technological innovation has played a substantial part in aiding in-residence counsel juggle the competing requires of receiving extra performed for their organizations while preserving expenses to a minimum. Jared Correia not too long ago sat down with attendees (together with Matt DenOuden, SVP of World-wide Sales for Onit) in the latest episode of his Over the Law’s Non-Eventcast podcast to go over just that. The episode focuses on how in-residence counsel can most effective leverage matter administration and authorized commit management application to help lessen overhead and make improvements to operations. You can hear to the comprehensive podcast on Apple and Spotify.
Resource: Earlier mentioned The Regulation
3. The Most up-to-date Perk for In-Residence Legal professionals: Sabbaticals
Here’s an attention-grabbing development for individuals retaining up on legal engineering information: Time off! We all know a lawyer or two who could use a split, particularly right after the previous couple of yrs. The fantastic information is that a lot more may well shortly get a person. Sabbaticals have not frequently been integrated in in-home counsel payment packages. However, a record number of attorneys still left the workforce in 2021, primarily owing to burnout, greater personalized requires, a want for far more versatility and other issues prompted by the pandemic. This has some corporations rethinking their stance on sabbaticals. Several recruiters are positing that employers might commence employing sabbaticals as a signifies of trying to retain leading expertise in a aggressive authorized marketplace.
4. The Top rated Legal Know-how News Stories of 2021
There’s no query that 2021 was a year of ups, downs and everything in between for lawful technology news. Right here, technological innovation evangelist and lawyer Nicole Black lays out the top five lawful tech information stories that dominated headlines past calendar year for the ABA Journal. The stories include the evolution of remote function, the uptick in cybersecurity challenges, the important increase in resignations in the lawful industry at the associate amount, the prevalence of mergers, acquisitions and consolidations in the legal tech space (which include Onit’s acquisitions of Bodhala and BusyLamp), and substantial authorized tech IPOs that transpired in 2021.
Source: ABA Journal
(PS: Onit recently introduced its most up-to-date acquisition, SecureDocs, which delivers agreement administration to SMB prospects. You can read far more about it listed here.)
5. Legalweek Convention Shifts to March
COVID-19 proceeds to disrupt conference time. This time, Omicron concerns have pushed Legalweek. 1 of the main conferences for legal technology news and advances is moving from the very last week of January to March 8-11. If you are registered, you don’t have to adjust a detail except your resort reservations. The meeting, which lawful believed leader Bob Ambrogi estimates to be in its 40th 12 months, welcomes hundreds of legal professionals, in-property counsel, lawful functions leaders and legal IT industry experts every single yr.
We seem ahead to bringing you far more news and insights as the new calendar year progresses.