What is a legal tech?
The top professionals worldwide are quickly being equipped with innovation and technology, and legal professional is one of those top professionals. The introduction of legal technology has decreased certain clerical efforts that the lawyers had to put in the traditional method.
In easier words, legal technology utilizes technology and software to deliver legal services that are useful not only for big companies or firms, but even the independent practitioners can also use the legal technology for easy management of their works.
The primary purpose of legal-tech companies is to do better than the traditional legal field and fill in specific gaps.
The diversity of legal technology provides a vast scope and introduces several concepts to ease the work for legal professionals using the strategic legal tech map. The idea of legal tech startups is based on artificial intelligence software to equip the law firms to be more efficient, prompt delivery of services, saving time of the in-house counsels relieving them from the clerical tasks of update, data entries, and many more.
Generally speaking, artificial intelligence is the future of the industry; therefore, for legal tech, Indian incubators are taking a crucial step.
First-world countries, such as the USA, UK, Europe, and Japan, have already embraced legal tech, and India, being one of the progressive countries, is not lagging much behind.
Around 2011, The legal tech startups in India started a recognizable journey that helped the legal industry manage the shock COVID 19 gave.
How has legal tech transformed the working scenario?
The legal-tech companies in India furnish a wide range of benefits, pushing them to grow. Some of the benefits are:
Online dispute resolution
Online dispute resolution (ODR) is a special supplement to the conflict redressal mechanism in India. ODR relieves the courts, already under a massive pendency of cases. The complainants can report their resentments just like any alternative dispute redressal. This ODR attracts the clients because their conflicts are determined virtually. These help resolve non-criminal matters, such as - civil, corporate, and legal conflicts in India.
Everything is online at present. Therefore, the electronic signature feature has made it much easier to verify a document. This feature is much helpful for the legal technology market because the legal experts will be free from the effort of meeting, physical paperwork, verification, and signature on the documents. The platforms using the feature of e-signature authorize the clients to fill the required fields in the records, add self-attestation, verify it, and send everything back to the attorney online.
Legal research and analysis
Due to the commencement of legal technology, several Indian legal startups have formed furnishing information about legal statements worldwide. Legal analysis due to the legal technology has evolved very specific, practical, and less time-consuming, unlike the traditional research process.
Contracts Management online
Some legal-tech startups in India are assisting legal practitioners with contracts management online. The manual procedure of composing a contract is monotonous, consumes time, and requires extra effort if any editing is needed. The legal tech companies help individual lawyers and legal firms draft and dispatch their contracts online.
The idea of the legal marketplace indicates how far legal technology in India is, just like any online shopping platform or app. Legal marketplaces help a consumer to find the lawyers of their choice online. The people can pursue legal advice from lawyers or hire them according to their budget and location.
However, there was initially some confusion about whether the legal tech marketplace for hiring lawyers violated the Advocates' Act, 1961.
In 2008, BCI declared Rule 36 prohibits a lawyer from advertising or soliciting the services, not even indirectly, through circulars, interviews, advertisements, personal communications, and touts. The court imposed certain restrictions on the operations of the legal tech startup, but also appreciated the importance of technological up-gradation that helped through the pandemic situations.
Managing intellectual property
Functional intellectual properties can be a dangerous and critical task. This task has evolved quickly with legal technology, as one can book any service for copyright, trademark, patent registration, renewal, or surrender. The applicants can handle their intellectual properties documents and data online. There is a meager chance of people getting the IP registration rejected.
E-discovery enables the lawyers and law firms in different legal methods like analysis, exhibition and reserving of data, alternative dispute resolution, discussion of legal information, etc.
Litigation management through technology
Legal-tech startups have raised diverse startups for legal firms and lawyers to handle their day-to-day operations digitally. This legal resolution enables the legal practitioners to address client relationships, manage important documents, manage cases, and much more.
How does legal technology maintain the confidentiality between the lawyer and the client?
The benefit of legal technology could infringe the duty of confidentiality, disseminated under Bar Council of India Rules 1975 made under Section 49(1)(c) of the Indian Advocates Act 1961. Standards of Professional Conduct and Etiquette under Rule 17 BCI Rules note that a lawyer shall not violate the duty assessed by the integrity of Sec. 126 of the Indian Evidence Act. Sec. 126 entails the regulation that a lawyer shall not reveal the details repositioned from his client to him. This rule implies both the communication and the records that have been transferred between the lawyer and his client. Utilizing technologies such as practice management software creates a heinous threat of exposing critical personal data to pirates and hackers. This provision makes a lawyer more inclined to breach his commitment to confidentiality.
However, with the evolution of technology, it became necessary to update the rules, to maintain Indian standards for lawyer's conduct.
Rule 15, framed under Section 49(1)(c) of the Advocates Act 1962, notes that a lawyer should keep his client's claims in an unbiased and honorable manner. The state bar associations are constantly flourishing to develop their moral duties; at the beginning of quick technological advances, Indian ethical responsibilities for lawyers are still not stable and do not align with current issues. When all the legal services are performed online, clients` confidential data are at quite a high risk of being misled.
Are legal-tech startups the future of legal services in India?
Things are transforming when traditional law firms known to place aside a tiny percentage of their budgets towards technology – have had creation and legal tech startups merge their ranks. This massive growth of the movement is characteristic of a more significant sign of trades relocating legacy infrastructure to the cloud technology and an increasing focus on the data-driven determination of the work.
Technology is causing the potentiality of legal teams to pass through the hindrances of unstructured data with pace and precision perceptive meaningful practices.
Legal data is undeveloped in the traditional manner. In litigation management, valuable data flows in emails, transcripts, and complex papers. On the transactional deception, artificial intelligence can clean through clause libraries and propose best-suited clauses for a set of documents.
The legal tech saves the time and effort of the lawyer to review thousands of pages and case law only to summarize a small portion.
With the benefits mentioned above of the legal-tech startups, the future of India's legal-tech market shines bright. The COVID-19 pandemic is one of the significant causes and a massive boost to the legal-tech startups in India; the legal-tech startups are overtaking the traditional law firms in India in the upcoming years. Currently, with the court hearings being conducted online and the entire operating online, exploring for legal resolutions has become more comfortable due to legal technology.
Legal tech artificial intelligence has conveyed standardization and efficiency to the legal technology market. The legal resolutions supplied are time-consuming, efficient, trustworthy, and inexpensive to those mourning from financial problems. The legal tech venture capital has enabled the customers. It allows lawyers to get research material, draft agreements and contracts, obtain legal advice more straightforwardly, and maintain the distancing rules during the pandemic.
Legal-tech startups have also aided traditional law firms. The law firms have evolved more relaxed, and a dedicated client-lawyer connection can be seen. With the advancement in technology, lawyers are now better guaranteed not to be fooled. The legal solutions delivered are fast-paced, which assists in saving the time and effort of lawyers and helping them control their workload. Despite the legal-tech startups including much to offer, Indian lawyers are still unwilling to embrace this practice mode. This opposition is for fear of losing their positions and mentioning data loss concerns.
How to keep pace with the rising demand for legal tech in India?
The online hearing being held in courts is based on artificial intelligence products based on research. Technology has honestly taken over practically every aspect of traditional law. Unique and exciting technologies such as artificial intelligence, data analytics, machine learning, and predictive analytics have influenced the legal market.
The legal fraternity is a concept where the lawyers and judges are all customary with their traditional manners and may oppose the technical update in law. However, it is difficult to deny that the application of technology has the potential to give legal professions a new dimension towards efficiency. It is considered that Artificial Intelligence may replace labor and manual efforts, leading to unemployment. Still, the truth is that technology reduces the burden and transforms complicated work into simple work.
The pandemic made us realize the benefits of technology even in the judiciary system. When technology has evolved in almost all industries and sectors, the Indian judiciary system should not be left behind. The COVID-19 pandemic forced the help of technology for the proper functioning of the judiciary system, maintaining the social distancing rules.
With the total technological advancement and change of the courtroom settings, the main question to contemplate is whether or not the delivery of justice will be enhanced founded on the use of technology. Modern technology has permitted a lot to strengthen justice management, improve fairness, and save cost and time.
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