Technological adoption and innovations have changed the way most industries operate across countries. Many sectors that were hesitant to change have also been forced to leapfrog to advanced technologies because of the pandemic. One such industry is India's legal sector. Facilitating this change are some of the legal tech startups. There are around 30 - 50 startups in the country today that are operating in the space, with offerings ranging from information for users, legal consultancy, e-registration, introduction to lawyers, case tracking, and software for legal firms, among many others. While tech intervention was forced into the industry, what is making tech stay?
LEGALTECH IN THE NEW NORMAL
Legaltech continues to find more takers for several reasons. The primary reason is that the clients have understood that it reduces cost and firms have understood that it reduces time and effort.
Technology has democratized access to many things, including access to justice, by bringing down the cost. "Legaltech can help increase access to justice by making legal services more affordable and accessible to individuals and businesses that may not have been able to afford them previously," said Roma Priya, founder, Burgeon Law.
Legaltech is also saving time and money for law firms. For instance, it can automate time-consuming tasks, such as document review and contract management. Also, legaltech helps the industry stay updated with client expectations. "Clients are increasingly demanding more efficient and transparent legal services, and legaltech can help meet these expectations," she added.
Diese Geschichte stammt aus der Startups May 2023-Ausgabe von Entrepreneur magazine.
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Diese Geschichte stammt aus der Startups May 2023-Ausgabe von Entrepreneur magazine.
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