Don't believe the hype
Online dealrooms may be trumpeted in public as revolutionising the relationship between lawyers and clients, but in private many legal heads of IT are sceptical of the benefits. Chrissy Burns looks at the results of a survey into firms' experiences of e-commerce
Since the launch three years ago of the first online dealrooms the imagination of many has been captured by the potential of this technology to transform the interaction between lawyers and their clients. Most large law firms now use online collaborative workspaces in a range of ways: for large transactions; to create dedicated client relationship sites; and as client document repositories for particular collections of documents.
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