The Biggest Challenges
Dentons is at the forefront when it comes to innovation in its drive to “build the law firm of the future”. But are the legal tech tools really used by in-house corporate legal departments? If not, what are the biggest obstacles and how can the processes be improved?
Dr. Rainer Markfort is Global Director Client Solutions Innovation at Dentons. He has been working as a Partner in the area of Corporate and Compliance law for many years and believes that collaboration is crucial when it comes to the development of client facing solutions:
“It isn’t about renting a fancy co-working space, isolating young lawyers and developers from the rest of the law firm.”, he says. “Instead, we really need to involve the experienced lawyers – those who really know the clients. This is how lawyers can smoothly transition from working with the ‘traditional model’ to the ‘new model’”, Rainer states.
Dr. Alexander Steinbrecher sees the issue from the other perspective, as an in-house counsel for Alstom. As co-founder of the “Roundtable Innovation & Legal Tech”, Dr. Steinbrecher has been involved in innovating and digitizing inhouse legal departments for several years. As a speaker and author in this area, he is primarily concerned with making legal departments more efficient and, technologically-enhanced adding value with the help of creative and innovative approaches.
“I don’t see that law firms are willing to self-disrupt the way they offer their products and services to clients and ultimately, to become more technologically-advanced and client-centric.” – Alexander comments.
Dentons’ Dr. Maria Brakalova is a Partner in the areas of Foreign Trade Law and Public Procurement Law and she is member of Dentons’ Competition, Antitrust and Regulatory Practice. She has been involved in the development of Dentons’ Global FDI Tracker, a comparative tool that provides an overview of regulations on foreign direct investments in various jurisdictions. Maria hosts this interesting discussion between Dr. Rainer Markfort and Dr. Alexander Steinbrecher, which will discuss how the development of legal tech tools can be improved and will throw light on the future of legal tech, illuminating both the law firm as well as the in-house perspective:
- What are the biggest challenges to innovation in the legal sector?
- (Why) do law firms find it difficult to invest into legal tech?
- What has Dentons accomplished in the area of legal tech and what are the plans for the future?
- What are the legal tech tools that a company most benefits from? Are clients willing to accept using legal tech tools?
- How can project management help in the process of developing new tools?
- What do topics such as collaboration, project management and the end customer have to do with legal tech?
- What will the “lawyer of the future” do?