LexRatio interviewed Ignaz Fuesgen (Co-Managing Director) and Ines Polak (Legal Transformation Specialist) from smartvokat. smartvokat is an independent legal engineering and technology firm headquartered in Hilden/Duesseldorf.
When discussing about Legal Technology, or shortly just LegalTech, we may quickly get uncomfortable, since one might have in mind the law to which certain technology applies to (e.g. fintech, regtech, e-discovery, competition law etc.), while on the other hand, some define Legal Technology from the other perspective, in particular how particular technology is applied to the […]
During the pandemic we have seen many incentives and new legal tech solutions in legal market, especially as the legal industry scrambled to accommodate remote workflows during the pandemic. What is more, in 2021, the LegalTech market generated revenues of 18.43 billion U.S. dollars worldwide, with the market forecast to grow at a compound annual growth rate (CAGR) of […]
The legal industry has not fully embrace the potential of legal data. Legal data represents various data included in different sources of law, from legal theory data to data generated through legal practice. Legal documents, legal knowledge base, spreadsheets, billing systems, policies, emails and external data sources such as case law and legislation are stored […]
For an average person, decoding the law can be very challenging. What is more and legal experts will (surely) agree, is that law can be sometimes hard to understand even among lawyers. In this hyper-regulated world with uncountable number of legal rules, explaining the law has sometimes became mission impossible. If we add unstructured legal […]
Today’s users are becoming more and more demanding when talking about delivery of wide range of services. The Internet and Mobile technologies result in radical transformation of connecting demand and supply with the support of the technology and data analytics. Sharing economy model’s ultimate goal is to connect customers to service providers in innovative ways. […]
In general, automation represents different more or less advanced technological solutions to reduce human assistance for particular task or process (e.g. turning off the lights automatically when leaving an apartment). Similarly, legal automation is the usage of LegalTech software solutions to automate and execute tasks that are frequently performed manually by lawyers. On a more advanced level is the […]
I. Introduction Not a day passes without a trending news story related to LegalTech. Ambitious lawyers and entrepreneurs are trying to enter the more and more competitive legal market, while convincing users how brilliant the LegalTech solution is they have brought to life. As a consequence, we may witness a number of similar LegalTech products based […]