The Biggest Hurdle for Legal Tech Innovation? Law Firms' Business Structure
Legal tech companies may have a hard time breaking into the law firm market, but observers say the opportunities are too great to pass up.
Investments in legal tech, and corporate clients’ desire for such tech, are going strong. So what is hindering the widespread adoption of legal tech in law firms? A panel at Legalweek said that law firm structuring and their billing models are to blame.
Measuring how efficient a technology is differs among corporate legal departments, outside counsel and other stakeholders, participants on the “With Over $1B in Venture Backed Capital, Could We be on the Verge of Another Tech Bubble?” panel said.
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