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Legal Tech: The Risks and Rewards of Interweaving Legal Technologies
Integration and collaboration between legal technology companies is a growing phenomenon that provides opportunity for companies in all stages of the adoption life cycle. Early proponents of this tactic include Clio through the establishment of an App Directory in 2017 that fosters either one-way or two-way integration with other legal technology products as well as HighQ's integration with Legal Anywhere prior to their acquisition by Thomson Reuters. As popularity with these integrations and collaboration attempts increases, the security risks for both companies and consumers remain prevalent. Furthermore, those concerns are inflated during events such as partnerships, integrations, and even mergers and acquisitions. Overall, the trend of legal technology companies working in concert to either overcome a mutual competitor, offer a stronger solution to existing clients, or a combination of the two is a strategic approach that is beginning to become a signature of the space.
A symbiotic relationship between legal technology entities occurs in many various forms and sizes which in turn results in varying degrees of codependence. These alliances can also form for a variety of reasons as touched on introductorily. Staying with the theme of integrations for the time being, however, the inspiration for companies wanting to collaborate in the first place should be assessed. A focus area for this trend can be found in the brief drafting vertical of legal tech as it is a bustling space that contains multiple players which accomplish different brief-related tasks. For those unfamiliar, legal brief drafting can be essentially concentrated into three main components: drafting, checking and formatting. Each component possesses software solutions that luckily aim to assist brief drafters with a historically monotonous task through automation. Of these solutions, Casetext's Compose, BriefCatch, and ezBriefs accomplish either drafting, checking, or formatting through automation to some degree. Each software solution offers users distinct functionality and features in their respective realms to expedite the briefing process for the end user. But what if the three companies worked harmoniously to offer users one super solution that automatically drafts, checks, and formats a brief with less groundwork from the author other than the substantive arguments and points?
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