Not all cloud-based legal tech companies stand the test of time. Some bow out of the market via acquisition, while others just shut down. But as a defunct company’s sales rep stops making calls, their law firm clients are left anxiously wondering, “Where is my data?”
To be sure, many law firms still aren’t comfortable having their client data off-premise. Even when a vendor can coax a firm to leverage their cloud-based storage, lingering concerns remain. Law firms worry bankruptcy filings among cloud-based legal tech companies means their client data will be lost in the shuffle. But industry observers and legal tech providers said that while such risks are real, due diligence can prevent that worst-case scenario.
