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A contract software company gained new funding from a venture capital program this week.
Document Crunch, a contract software company servicing the construction industry, announced on Thursday the raising of $21.5 million in a Series B funding round, less than a year after its first capital raise.
Three outlier megadeals pushed funding for legal technology companies to $1.57 billion in the third quarter of 2024, up from $392.5 million in the same period last year, but the number of mergers and acquisitions fell by about 50%.
This was another action-packed week for the legal industry as BigLaw firms made a slew of hires and a state judge was admonished for lip synching "Jump" by Rihanna in a TikTok. Test your legal news savvy here with Law360 Pulse's weekly quiz.
Alternative dispute resolution provider JAMS has launched a suite of artificial intelligence-powered tools that attorneys, their clients and panelists can use in the dispute resolution process as part of its new initiative JAMS Next.
Gunster has struck a settlement agreement in one of the two proposed class actions it faces in Florida federal court over a 2022 data breach, while the plaintiffs in the second case urged the court the same day to reject the law firm's dismissal bid in their suit.
The corporate deals software platform Noetica AI embarked on a new chapter of its journey on Thursday with a $22 million Series A funding round.
UnitedLex Chief Executive Officer James Schellhase has left the role after just one year and is being replaced by general counsel Renee Meisel, the law firm-focused data and professional services company announced Thursday.
Thomson Reuters on Tuesday filed a pair of renewed motions for partial summary judgment seeking to block ROSS Intelligence Inc. from claiming fair use, and hold it liable for copyright infringement, in a suit alleging ROSS ripped off the Westlaw research platform for its artificial intelligence product.
Legal client engagement startup Case Status has secured $19.7 million in Series B funding to further develop its artificial intelligence-powered tools, expand into new law practice areas and add leadership positions.
The general counsel for litigation platform Fileread has announced that he's left the company to "build something new," having just joined from AstraZeneca earlier this year.
Several law firms this year, including Akin Gump Strauss Hauer & Feld LLP and McDermott Will & Emery LLP, have filled artificial intelligence-focused chief and director roles to keep up with technological advances and client demands, according to legal recruiters.
As ransomware attackers like to hit companies on holidays and other sensitive times, in-house attorneys should role-play the holiday attack scenario in advance as they prepare to respond, members of an Association of Corporate Counsel conference panel said Tuesday.
The traditional hourly billing model in the legal industry is facing increasing scrutiny as in-house legal teams leverage technology to enhance efficiency, the co-founder of a leading AI service told Law360.
In-house lawyers should craft a single artificial intelligence governance policy for their organizations, build cross-functional teams to assess AI needs and risks and audit and update their AI policy frequently to keep pace with the technology's rapid evolution, according to experts on an Association of Corporate Counsel conference panel.
White & Case LLP announced Monday the appointment of both a chief innovation officer and a chief marketing officer as the firm continues to expand through hiring and office openings.
The legal technology sector has a new unicorn after artificial intelligence provider EvenUp secured a $135 million Series D funding round and reached a $1 billion valuation on Tuesday.
Labor and employment firm Littler Mendelson PC has added the former executive vice president and chief information officer at photonics and light technology company Excelitas Technologies as its chief digital innovation officer.
Billing rates for the top 100 law firms in the United States surged by 10% from 2023 to 2024, the largest rate hike in the past three years, according to a new research report on Tuesday.
Most legal professionals over the past year have adopted artificial intelligence in some way, according to a survey published Monday by legal technology giant Clio.
A majority of legal industry employers say that artificial intelligence is changing the skill sets they look for in hiring, according to a report released Monday by business consulting firm Robert Half, with the report also finding that employers prefer to train existing employees than hire externally.
Nearly 60% of general counsel and chief legal officers expect a reduced reliance on outside legal service providers due to generative artificial intelligence — more than double since a 2023 survey showed 25% of respondents would cut the number of law firms they work with in the next year to slash costs, according to data released Monday.
A blue ribbon commission announced Monday that strengthening oversight, deepening insight and developing foresight are the three main pillars of a new framework for how corporate boards can thrive in the digital age.
Mondelez Global LLC workers on Friday asked an Illinois federal judge to greenlight a $750,000 settlement that would resolve proposed data privacy class actions against their employer and Bryan Cave Leighton Paisner LLP stemming from a 2023 data breach.
A former intellectual property litigation partner from Morrison Foerster LLP is now OpenAI's lead counsel for artificial intelligence research, the company said Friday.
As virtual reality continues to develop, litigators should consider how it will affect various aspects of law practice — from marketing and training to the courtroom itself — as well as the potential need for legal reforms to ensure metaverse-generated data is preserved and available for discovery, says Ron Carey at Esquire Deposition Solutions.
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The Future Of Legal Ops: Time To Get Serious About DataMost corporate legal departments collect surface-level data around their operations, such as costs and time to resolution, but legal leaders should explore more in-depth data gathering to assess how effective an attorney was, how efficiently legal work was performed, and more, says Andy Krebs at Intel.
While many lawyers still believe that a manual, document-by-document review is the best approach to privilege logging, certain artificial intelligence tools can bolster the traditional review process and make this aspect of electronic document review more efficient, more accurate and less costly, say Laura Riff and Michelle Six at Kirkland.
Law firms considering machine learning and natural language processing to aid in contract reviews should keep several best practices in mind when procuring and deploying this nascent technology, starting with identifying their organization's needs and key requirements, says Ned Gannon at eBrevia.
Law firms need to shift their focus from solving the needs of their lawyers with siloed solutions to implementing collaboration technology, thereby enabling more seamless workflows and team experiences amid widespread embrace of hybrid and remote work models, says Kate Jasaitis at HBR Consulting.
Law firms looking to streamline matter management should consider tools that offer both employees and clients real-time access to documents, action items, task assignee information and more, overcoming many of the limitations of project communications via email, says Stephen Weyer at Stites & Harbison.
As more law firms develop their own legal services centers to serve as both a source of flexible personnel and technological innovation, they can further enhance the effectiveness by fostering a consistent and cohesive team and allowing for experimentation with new technologies from an established baseline, say attorneys at Hogan Lovells.
Neville Eisenberg and Mark Grayson at BCLP explain how they sped up contract execution for one client by replacing email with a centralized, digital tool for negotiations and review, and how the principles they adhered to can be helpful for other law firms looking to improve poorly managed contract management processes.
Many legal technology vendors now sell artificial intelligence and machine learning tools at a premium price tag, but law firms must take the time to properly evaluate them as not all offerings generate process efficiencies or even use the technologies advertised, says Steven Magnuson at Ballard Spahr.
Every lawyer can begin incorporating aspects of software development in their day-to-day practice with little to no changes in their existing tools or workflow, and legal organizations that take steps to encourage this exploration of programming can transform into tech incubators, says George Zalepa at Greenberg Traurig.
As clients increasingly want law firms to serve as innovation platforms, firms must understand that there is no one-size-fits-all approach — the key is a nimble innovation function focused on listening and knowledge sharing, says Mark Brennan at Hogan Lovells.
Law firms could combine industrial organizational psychology and machine learning to study prospective hires' analytical thinking, stress response and similar attributes — which could lead to recruiting from a more diverse candidate pool, say Ali Shahidi and Bess Sully at Sheppard Mullin.