Legal futures round-up

By Yves Faguy Web Only

Legal futures round-up

 

Time for a quick round-up of trends and developments that highlight innovation in the legal industry.

Artificial Lawyer reports on a “litigation prediction battle heating up”, driven by insurance law firms under pressure to reduce costs and show their clients that they can leverage advanced legal tech.

PwC’s on-demand lawyering service has signed up more than 1000 contractors since its launch four months ago in the UK. It now wants to expand it into global markets, as see Asia as a promising market for growth.

Meanwhile in Canada Fasken has opened an office in Surrey , B.C., “home to a growing startup, high-tech and emerging companies market, all of which play into Fasken’s strengths.” It achieved this by bringing in in a team of lawyers from Roxwal Lawyers.  Managing partner Peter Feldberg is quoted as saying, ““As a smaller office, it also gives us a place to pilot new technologies and new ways of doing things before rolling them out on a larger scale.”

Elizabeth Olson writes that law firms are finally beginning to open up to alternative legal services models, and points to Hogan Lovells’ decision to partner with Elevate to launch a new flexible lawyering service. The global law firm’s head of legal service delivery, Stephen Allen, says “NewLaw and BigLaw are stronger together.”

The UK’s Financial Conduct Authority (FCA) has published a proposal for a global regulatory sandbox to allow selected firms test Fintech concepts on a controlled subset of consumers without triggering full regulatory requirements.

In a piece on how blockchain is transforming legal, Jasmine Ye Han notes that, while lawyers are likely to be implicated by the technology, the legal industry is going to have to agree on a common standard of which one to use.

Five Canadian cities participated in the Global Legal Hackathon. Teams competed for a spot in the world finals, which will take place on April 21st in New York.

After acquiring Lex Machina, Ravel law and Bepress, LexisNexis snapped up ThreatMetrix, a digital verification company that it will be relying on to counter online fraud.

And on the legal education front, the Law Society of Ontario has approved Ryerson’s law school program that promises a greater emphasis on technology, equity, diversity and inclusion.  The first class of law students would begin in 2020.

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