Legal technology and law technology are both different terms and mean different things. But they both provide easy solutions and make tasks less time-consuming for both clients and lawyers. As soon as the difference between legal tech and law tech is clear, there only arises one question. Which one is better? When this discussion opens, two sets of opinions are raised on behalf of both technologies. Let’s understand the difference between legal tech and law tech in detail in this article.
What is legal tech?
There are many legal tech companies in India. But what do you understand by the term legal technology? Lawyers use legal technology. Through this technology, services, as well as solutions, are provided to clients more efficiently.
In Simple words, legal tech is the term used for reference for the use of software and technology for providing legal services and support to the legal industry. The task for lawyers is made easier through legal technology because it dynamically creates solutions and documents with repeated patterns. It might take time for the human brain to recognize these patterns, but technology is faster.
Why is legal technology better? The law indeed requires extensive research and only facts. But there are many cases and clients with repetitive situations or scenarios. Evaluating such a scenario might take a lot of time for a lawyer when it can easily be done with legal technology. Lawyers are taught to be fast and use the minimum time for maximum advantage. But it is also true that tasks such as filing, billing, evaluating, and others can take a lot of time. Now lawyers can complete these tasks and practice law without consuming more time. But this also brings advantages to lines and customers. As the time is consumed less and justice is bought faster, they have to pay less and spend less time gathering files and other such operations. There are many other reasons why India’s technology and legal tech companies are successful. These reasons are:
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Automatically legal analysis as well as document drafting.
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Documents can easily be reviewed. Data can be extracted from these documents into facts easily.
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Negotiation of documents can be easily done, including collaboration by both parties (even if it is a third) party.
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Documents and data can be easily visualised and stored.
What is law tech?
Law tech is a game changer in the legal market, bringing a huge wave. With the help of law technology, customers and clients can help themselves. They can ask for solutions and advice from law technology just like they ask from lawyers. Many legal products are empowered to give you advice and solutions easily. You can easily find solutions from machines! Law Tech also saves a lot of time. Clients and consumers can spend less time wasting on administrative work when they can instantly ask for advice from machines and get instant results. Almost every client sets up an appointment every time to discuss everything with their lawyers.
This time is also reduced when the discussion is made with technology directly. Many technologies and products help you to make documents online and get digital signatures without any appointment with lawyers. This process is secure and safe. Law tech covers information and suggestions from all industries and delivers them to you.
What is the difference between legal tech and law tech?
The main difference between legal tech and law tech is given below.
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Legal technology is the technology that lawyers mainly use to simplify their work. Whereas law technology is the software as well as applications that contain online marketplaces to deliver desired products to their clients and customers.
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Law technology is encompassed by legal technology. This is because legal technology also improves the performance of customers with their products. In this case, the customers can also be lawyers.
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Legal technology is a solution that is specially defined for lawyers in business corporations and law firms. Legal technology helps lawyers to automate their own work and make it simple. In comparison, law technology has a deeper meaning to it. It is specially defined for customers, clients, and small businesses so that they can serve themselves.
For example, legal technology allows lawyers to reduce time in repeating work. Repeated processes related to the documents and legal processes are understood as a pattern through this software. It offers more efficient AI solutions for lawyers after recognising patterns the human brain cannot interpret. Lawyers are popularly known for the valued time and money they charge their clients.
But legal technology is beneficial for both lawyers as well as clients. It helps to reduce the charges of fees for clients and customers. But what is it have for lawyers? Lawyers also spend much time dedicated to completing their documents which can be easily done with enough hours through legal technology. But if clients don’t want to interact with lawyers or spend time or money on them, then they can easily use law technology. These products offer Services and guidance directly that are offered by lawyers. It reduces money and time.
Can law tech and legal tech coexist?
Yes. Law technology and legal technology can be used as a hybrid. Both clients as well as lawyers can work together more efficiently. Both these solutions aim to advance the use of technology. Thus it allows clients to complete most of the work, such as administrative work of documents, with the help of technology. This saves a lot of time which eradicates traditional administrative work. In addition, it also allows lawyers to complete tasks by Law Tech and provide real justice to customers by practising law more efficiently. Both these technologies came to produce efficient results.
Challenges of legal tech and law tech.
There are many scopes in this industry with the help of these technologies. But everything comes with its challenges. There are a few challenges and obstacles on the part of legal and law technology. These challenges are given below.
1. Pressure on the law firms
There is a lot of pressure on lawyers and their firms to prove themselves. The pressure of getting replaced by these technologies is completely increasing, which is a serious challenge. Clients want cheap results from their lawyers and organisations, but they also know that technology can provide these results easily. With the wave of this technology, the traditional lawyer-client interaction will be reduced or eradicated completely. Technology can provide them avoid research which is better because it offers them more precise solutions and results. The software and machines take less time to show better results.
The best way to make your clients not fully dependent on technology and machines is by showing them that you care. Give them your time but don’t consume time to give them solutions. Make the process cost-effective because the lawyer can also complete half the work with the help of technology. Use the technology to complete administrative and billing work. Then reduce the cost of your clients and always welcome the clients. Make sure you understand what your clients and customers are looking for, and you provide them in the minimum time with an effective cost to offer the maximum result.
2. Privacy and security
Lawyers and their organisations undergo various threads and security issues. This is no joke. They have to face various issues, which are given as follows:
3. Vulnerabilities:
It is the responsibility of lawyers and their organisations to offer the best security without any failure. They are not only responsible for maintaining their own security and privacy but also for securing the data of their clients. Even if something happens and it is not their fault, they are directly blamed for it. They should ensure that the technology they use is the best without any failure. This is because the organisation’s reputation, in addition to the license of the lawyer and the firm, is on the line. It does not matter how serious the security issue becomes; an email will be the best and most preferred form of communication preferred by lawyers. Legal work is done mostly on software and devices such as storing data or sharing files. Technology like cloud storage, virtual data rooms, etc., are the best in such cases.
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How is technology helpful:
Sometimes it is better to use technology for clients because it eradicates the use of sharing data or files with a third party. It also reduces the chances of data exposure even though the situation is collaborative. Cloud services and cloud storage offer more data security and privacy than other systems. If you want to use the technology, then there are two things that you should determine. The first is the major use of technology and how it enhances your efforts. The second is to determine the steps to lower the chances of security issues. Both these steps make the lawyer-client interaction more valuable and have better results.
It is the responsibility of law organisations and lawyers to demonstrate to their clients in the best way that the best precautions and security measures have been taken. Give them all information and ammunition about security measures so that they share all data and information with you without any doubt. It is better to explain to your clients than a tier page, including security measures and backup plans. Even if you don’t present the whole page in front of your client, you can demonstrate the facts related to security and privacy, which also maintains their trust in your organisation. Ensure you give your client a little information and demonstration about security and privacy in small intervals. Also, add these aspects to your blogs and pages. It is also better to have a security page on your website.
4. Globalisation
Globalisation is a possible reason why the mindsets of clients and other people change all the time. Various issues pop up regularly. Various law organisations must gather and set up some rules or regulations as the basis of these issues. There are already multiple rules in different levels of jurisdiction which can cause jigsaw situations all the time. Lawyers have various accountable reasons why it is appropriate to collaborate with foreign councils or organisations.
But it also raises challenges such as data storage, common management, and mergers-related issues. It also becomes difficult for clients and other customers to trust organisations due to technology because it comes with various issues and challenges. But globalisation in technology is such as legal and law technology offers its own advantages. It is a shaky and ever-changing world, so lawyers and organisations need to maintain and build the trust of their customers and clients. It’s your responsibility that your clients are ready to face the complicated and globalised World they live in today.
- Globalisation and technology: Many technologies offer solutions on common grounds. At least this technology makes it easier to manage law. No matter what type of file it is, it can be easily standardised with the help of technology. Artificial intelligence makes it easier for both lawyers and clients to store, classify and identify data and files. Data analytics can help analyse the situation more precisely and develop the best strategy. Technologies offer clients and lawyers easy-to-use methods to manage and track their data and changes. It offers various customisation options before the situation gets worse.
Benefits of legal technology and law technology.
There are some common benefits of both legal tech and law tech that are provided by these technologies. These benefits are:
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Increasing growth, productivity, and efficiency.
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Reducing costs for both clients and lawyers.
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Better outcomes for both organisation and customers or clients.
In a nutshell
Lawyers use technology to divide their work and finish their tasks much before then it takes, and on the other hand, clients or customers can directly get it done with the help of legal products and services. Many speculations and challenges come in the way of both these technologies. What happens to future lawyers? Well, now lawyers must prove themselves and improve their work. It’s time to charge less and do more convenient work if they don’t want that traditional lawyer-client system to get fully finished. However, it can already be seen that these two technologies are in use. These technologies have a modern mindset that takes less time to deliver the same or better results.
Many companies and law firms already have adequate capital to buy these technologies. It gives both a client and a lawyer a chance to change their mindset and strategy. A lawyer can change his traditional mindset of charging their clients fees and manage time better. In addition, it also gives a chance to clients to trust technology and take full advantage of it. It’s time for lawyers and clients to transform themselves to be ready for this globalised world and take legal actions to the next and better level. Law and legal tech are ready to empower you to face complicated legal matters!
