Bigle Legal Blog

Meet Jessica. She leads the legal team at a popular real estate firm. Her team is hardworking and dedicated - but she’s noted their performance has been faltering as of late. With heavier workloads, the team clearly wasn’t working as efficiently as they could be.

Each day they’d spend hours drafting complex contracts by hand, tediously copying and pasting clauses and explaining contracts to different parties. There were communication breakdowns due to poor collaboration between colleagues - and even some contract errors. For Jessica, it was evident: the legal team was placing all their energy into drafting legal documents, instead of supporting the real estate firm to really thrive.

The new world of legal analytics now offers compelling and exciting ways to assist law firms achieve huge operational efficiency and improved outcomes for their clients, often just by making use of existing data sources.

According to research by Gartner in 2018, 70% of law firms state they intend to invest in legal data analytics, but in practice, only 20% are using it to drive efficiency and enable data-driven decisions.

On the Bigle Legal blog, we often delve into how innovation is disrupting the legal industry. We’ve spoken about how cutting-edge tools incorporating AI, machine learning and document automation have helped law teams to increase efficiency and better represent their clients.

Today, we’re going to explore another technology that’s revolutionizing the legal sector.

That is: blockchain.

Potayto, potahto, right? Well, not quite. The terms electronic signature and digital signature are often used interchangeably. However believe it or not, there’s actually quite a big difference between the two.

So what characteristics distinguish a digital signature from an electronic one, anyway? And which one might be better for your business to embrace?

It’s no secret that the legal industry is rapidly transforming and today, law firms and legal departments from all over the world are feeling the pressure to respond.

Perhaps it’s no wonder; clients expect better and more efficient customer service and law firms feel the need to stand out from the crowd.

Lawyers have traditionally been reluctant to adopt new and innovative technology. However, the latter is rapidly changing. This is now driven by the growing ecosystem of legal technology (lawtech) vendors seeking to disrupt and reinvent the industry.

The pace of tech innovation around the world is blistering - and it’s no different in the legal industry. With demand for new business models, a greater need for cybersecurity, and new technologies on the market, it’s more important than ever for legal professionals to stay on the cutting-edge. And what better way to do this than attend a legal tech event?