RISING DEMAND FOR LEGALTECH START-UPS BY GRISHMA SHETTY @ LEXCLIQ

Rising demand for legal tech start-ups
By Grishma Shetty at lexcliq

Introduction:

While opting for law as a career we all have faced a scenario where our parents or relatives tell us about the abundance of books seen in the lawyer’s chamber. When we see at the amounts of books and legal documents in pills some of us get scared and might even change our minds to go ahead with law as a career. Technology has not only evolved the way of living of human beings but also has transformed the legal fields itself. Law students or lawyers are no longer required to search as entire library for a particular case or particular statement of a particular case. This all has been made available at a single click of our smart phones or laptops by innovation of legal-tech.

Impact of COVID-19:
After the covid-19 pandemic from 2019 this entire process of legal-tech has seen a drastic change due to the fact that people cannot travel due to lockdown imposed in many part of the country therefore, online legal consultation has been their priority. This led to the upcoming of many legal tech start –ups. The main target of these legal tech start- ups was to transform the entire traditional legal system into a more user-friendly environment, where people can get legal advice at low cost and from the comfort of their home without wasting much time.

Legal tech start-ups support different groups:
1. Law students = they are provided with various legal courses across the country and also various legal start- ups such pleaders, live-law which provides legal updates and blogs.
2. Professors = =they get a database where they can easily conduct their research. They can also join various training programs conducted online by various other organizations to enhance their teaching skills and get updated on legal points.
3. Advocates = advocates often spend a lot of time in searching databases for their cases but this can be made easy by these legal-tech start-ups.
4. Corporates = corporates are most benefited out of this because they require a lot of complex data management along with report analyses and artificial intelligence to manage huge amounts of data.
5. Judges = judges benefit from this technology because the court records can be stored on their servers and there is no risk of loss of files or data. They can also research and be updates with the latest interpretation of laws by various other courts national as well as international.

Benefits of the legal tech start-ups:
a) Cost efficiency = online consultation often reduces the cost invested in the physical litigation process. Also, legal professionals don’t have to buy a lot of books for case laws.
b) Faster way to get advice = people can get legal advice from the comfort of their home by simply going on these websites and contacting any lawyers of their choice.
c) Reduced work load on legal fraternity = law students and professionals spend maximum of their time searching data in abundance of books but however, with the help of database management technology data can be searched without wasting much time which reduces the load of legal fraternity to search thousands of files.
d) Regular updates = by the help of videos conference clients can be regularly updates about their case status.
e) Less travel = people don’t have to travel form one place to another for consulting advocates.
f) Different opinions = clients can get different advocates opinions on their legal issues not just across the country but from foreign advocates as well.
g) Better management – cases can be managed more accurately by forming data bases such as SCC online, Manupatra, and others.
h) More productivity = technology helps legal corporations to efficiently manage their data which in return increases the efficiency of work done by lawyers.

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