Results From Our Survey
GCs often find themselves toward the back of the line when it comes to corporate tech procurement, but our survey shows they have a huge appetite for new systems.
As the saying goes, “Ask a hundred lawyers and you’ll get a hundred answers”. Ask over a hundred lawyers about legal tech and the picture becomes even less clear. The legal tech ecosystem itself is so fragmented that almost no two GCs have the same thing in mind when talking about their use of technology.
Some companies are, to varying degrees of sophistication, implementing forms of automation or AI to solve legal or contractual issues, others are partnering with law firms to produce software capable of handling very specific issues like ISDAs, CLOs or loan documentation. But those applications of legal tech remain in the minority. Clearly, there is a distinction between legally useful technology and legal tech. Some basic elements of every office’s software suite can be legally useful, though they are not generally badged as legal tech.
