In the wake of the Fintech revolution in finance, Legal Tech is transforming the legal market and, more globally, the place of law in business life.
Replacing the lawyer for low value-added tasks
Most of the Legal Tech players have perfectly understood that it is necessary to transfer to the machine all the tasks, especially paralegal ones, for which it will be more complete than the human being, and to focus human intervention only on certain tasks.
Some of the first legal entities (lawyers and legal departments) have decided to automate as much as possible the first levels of daily legal tasks to focus on the high added value levels, and spend more time with their clients. Since the opening of the LegalTech.store, we have noticed that legal document generation solutions are the most requested by clients.
Legal Tech: coding the law by default to put the lawyer back at the heart of the business
With the related digitalisation of financial processes, French excellence in the combined approach of the Fintech/Legal Tech sectors could quickly benefit all economic actors and accelerate the digitalisation of processes.
With the advent of Legal Tech, the law is reinventing itself globally and the digital transition is finally putting the rule back at the heart of processes. "Code is Law". Lawrence Lessig's prophecy from the 2000s is evolving into "Law is Code" in the 2010s. According to Lionel Maurel, "if Law is Code, then it is no longer the Code that makes Law, but the law that is coded". For our democracies, the "codification" of law, taken on a European scale, could simplify the daily life of companies, administrations and individuals.
Legal Tech makes it possible to envisage the effective application of rules. With the technologies available and the emergence of a public legal data service, we can now envisage "coding by default" all the measures taken by the new government. Very concrete initiatives such as the #DigitalHumanRights movement are now enabling lawyers to innovate in the application of law in its new digital environment.
We are pleased to host the French leg of the World Legal Summit.
Join us this Thursday at 6:30 pm for the session "Can law translated into technical standards improve the respect of digital human rights?
DM for more information@WLS_GlobalLaw pic.twitter.com/rlAXccEVfP
- SERAPHIN.LEGAL (@SeraphinLegal) July 30, 2019
For our institutions, this will promote the application of the law as soon as it is promulgated in order to make it an instrument for implementing and monitoring government policy (rather than a mere communication tool).
As far as legal departments are concerned, with the advent of the augmented lawyer, the repeated desire to become a true business partner of the company should really become a reality in the coming months.
