{"id":77063,"date":"2021-10-13T10:31:21","date_gmt":"2021-10-13T14:31:21","guid":{"rendered":"http:\/\/danielschristian.com\/learning-ecosystems\/?p=77063"},"modified":"2021-10-13T11:56:35","modified_gmt":"2021-10-13T15:56:35","slug":"legal-technology-why-the-legal-tech-boom-is-just-getting-started-flaherty-um","status":"publish","type":"post","link":"http:\/\/danielschristian.com\/learning-ecosystems\/2021\/10\/13\/legal-technology-why-the-legal-tech-boom-is-just-getting-started-flaherty-um\/","title":{"rendered":"Legal Technology: Why the Legal Tech Boom is Just Getting Started [Flaherty &#038; Um]"},"content":{"rendered":"<p><a href=\"https:\/\/www.nasdaq.com\/articles\/legal-technology%3A-why-the-legal-tech-boom-is-just-getting-started-2021-10-11\" target=\"_blank\" rel=\"noopener\"><strong>Legal Technology: Why the Legal Tech Boom is Just Getting Started<\/strong> <\/a>&#8212; from nasdaq.com by Casey Flaherty and Jae Um of LexFusion; with thanks to Gabe Teninbaum for this resource via his <em>Lawtomatic Newsletter,<\/em> Issue #136<\/p>\n<p><em>Excerpt:<\/em><\/p>\n<p>In quick succession, legal technology finally saw its first IPOs:<\/p>\n<ul>\n<li><a href=\"https:\/\/www.cnbc.com\/2021\/06\/30\/legalzoom-debuted-up-30percent-ceo-sells-further-push-into-digital-market.html\" target=\"_blank\" rel=\"noopener\">LegalZoom<\/a>\u00a0(<a href=\"https:\/\/www.nasdaq.com\/market-activity\/stocks\/lz\" target=\"_blank\" rel=\"noopener\">LZ<\/a>; June 30, 2021)<\/li>\n<li><a href=\"https:\/\/www.bizjournals.com\/sanjose\/news\/2021\/06\/30\/intapp-hits-ipo-targets-raises-273m.html\" target=\"_blank\" rel=\"noopener\">Intapp<\/a>\u00a0(<a href=\"https:\/\/www.nasdaq.com\/market-activity\/stocks\/inta\" target=\"_blank\" rel=\"noopener\">INTA<\/a>; June 30, 2021)<\/li>\n<li><a href=\"https:\/\/www.reuters.com\/legal\/transactional\/disco-shares-jump-ceo-says-software-is-coming-legal-sector-2021-07-21\/\" target=\"_blank\" rel=\"noopener\">CS Disco<\/a>\u00a0(<a href=\"https:\/\/www.nasdaq.com\/market-activity\/stocks\/law\" target=\"_blank\" rel=\"noopener\">LAW<\/a>; July 21, 2021)<\/li>\n<\/ul>\n<p>With\u00a0<a href=\"https:\/\/news.crunchbase.com\/news\/legal-tech-venture-investment\/\" target=\"_blank\" rel=\"noopener\">private money pouring into legal tech startups<\/a>\u00a0and based on our own conversations inside the industry, we at LexFusion expect more IPOs on the horizon. Thus, a primer on legal tech as a category to watch. This Part I summarizes the legal market fundamentals driving unprecedented investment in enabling tech\u2014much of which extends beyond the boundaries implied by \u201clegal\u201d as a descriptor.<\/p>\n<blockquote><p><span style=\"color: #ff6600;\"><strong><em>A pivot point appears to be upon us.\u00a0<\/em>Considered unthinkable a decade ago,\u00a0US states\u00a0and\u00a0Canadian provinces\u2014following similar reforms in the\u00a0UK\u00a0and\u00a0Australia\u00a0that have resulted in the first publicly traded law firms\u2014are rapidly creating regulatory sandboxes to expand current rules limiting (a) who can provide legal services and (b) who can own those businesses.<\/strong><\/span><\/p><\/blockquote>\n<p><em><span style=\"color: #800000;\">From DSC:<\/span><\/em><br \/>\n<span class=\"css-901oao css-16my406 r-poiln3 r-bcqeeo r-qvutc0\" style=\"color: #800000;\">One can see why <\/span><span class=\"r-18u37iz\"><a class=\"css-4rbku5 css-18t94o4 css-901oao css-16my406 r-1cvl2hr r-1loqt21 r-poiln3 r-bcqeeo r-qvutc0\" dir=\"ltr\" role=\"link\" href=\"https:\/\/twitter.com\/hashtag\/AI?src=hashtag_click\">#AI<\/a><\/span><span class=\"css-901oao css-16my406 r-poiln3 r-bcqeeo r-qvutc0\" style=\"color: #800000;\"> will become key. &#8220;&#8230;the projected CAGR for global data volumes is 26%\u2014to pt where &#8216;the amount of data created over the next three years will be more than the data created over the past 30 years.&#8217; This data explosion complicates even standard legal matters.&#8221;<\/span><\/p>\n<p><span style=\"color: #800000;\"><em>Gabe also mentioned the following Tweet, which is relevant for this posting:<\/em><\/span><\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">10 trends for legal technology in the 20\u2019s according to <a href=\"https:\/\/twitter.com\/richardsusskind?ref_src=twsrc%5Etfw\">@richardsusskind<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/BLTF2021?src=hash&amp;ref_src=twsrc%5Etfw\">#BLTF2021<\/a> <a href=\"https:\/\/t.co\/a7MpqE8wYA\">pic.twitter.com\/a7MpqE8wYA<\/a><\/p>\n<p>&mdash; Laura Fauqueur ?? (@laurafauq) <a href=\"https:\/\/twitter.com\/laurafauq\/status\/1447846470527459329?ref_src=twsrc%5Etfw\">October 12, 2021<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Legal Technology: Why the Legal Tech Boom is Just Getting Started &#8212; from nasdaq.com by Casey Flaherty and Jae Um of LexFusion; with thanks to Gabe Teninbaum for this resource via his Lawtomatic Newsletter, Issue #136 Excerpt: In quick succession, legal technology finally saw its first IPOs: LegalZoom\u00a0(LZ; June 30, 2021) Intapp\u00a0(INTA; June 30, 2021) [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[113,329,832,356,387,86,209,210,287,180,55,825,830,449,239,309,480,834,195,38,321,367,11,49,299],"tags":[],"class_list":["post-77063","post","type-post","status-publish","format-standard","hentry","category-21st-century","category-24x7x365-access","category-access-to-justice","category-artificial-intelligence-agents-llms-and-related","category-business","category-change","category-changing-business-models","category-emerging-technologies","category-europe","category-innovation","category-internet","category-law-schools","category-legal-technologies","category-marketplaces","category-new-business-models","category-platforms","category-society","category-telelegal","category-tools","category-uk","category-united-states","category-vendors","category-vision-possibilities","category-web-based-collaboration","category-workplace"],"_links":{"self":[{"href":"http:\/\/danielschristian.com\/learning-ecosystems\/wp-json\/wp\/v2\/posts\/77063","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/danielschristian.com\/learning-ecosystems\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/danielschristian.com\/learning-ecosystems\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/danielschristian.com\/learning-ecosystems\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/danielschristian.com\/learning-ecosystems\/wp-json\/wp\/v2\/comments?post=77063"}],"version-history":[{"count":7,"href":"http:\/\/danielschristian.com\/learning-ecosystems\/wp-json\/wp\/v2\/posts\/77063\/revisions"}],"predecessor-version":[{"id":77070,"href":"http:\/\/danielschristian.com\/learning-ecosystems\/wp-json\/wp\/v2\/posts\/77063\/revisions\/77070"}],"wp:attachment":[{"href":"http:\/\/danielschristian.com\/learning-ecosystems\/wp-json\/wp\/v2\/media?parent=77063"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/danielschristian.com\/learning-ecosystems\/wp-json\/wp\/v2\/categories?post=77063"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/danielschristian.com\/learning-ecosystems\/wp-json\/wp\/v2\/tags?post=77063"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}