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Boomtime for lawtech

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21 July 2021
Issue: 7942 / Categories: Legal News , Technology
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The lawtech sector has doubled in size since 2017, includes about 200 companies, has attracted £647m in investment and is outpacing fintech, climate tech and healthtech
LawtechUK, a government-backed initiative within Tech Nation, published a report, ‘Shaping the future of law’, last week, that highlighted the potential for further growth in the sector with a £22bn annual market opportunity across legal services and business.

The report anticipated UK lawtechs could attract up to £2.2bn in investment per year and employ up to 12,500 people by 2026 (about 7,100 people currently work in the sector).

It identified regulatory compliance within businesses as the fastest growth area.

Jenifer Swallow, LawtechUK Director at Tech Nation, said: ‘The law is critical in all our lives and businesses and it should be easy to engage with and affordable and effective for everyone. Lawtech is how we make that happen. The sector is seeing incredible growth.’

 

Issue: 7942 / Categories: Legal News , Technology
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NLJ this week: Law Society calls for clarity on AML
The government’s plan to introduce a Single Professional Services Supervisor could erode vital legal-sector expertise, warns Mark Evans, president of the Law Society of England and Wales, in NLJ this week
NLJ this week: Turning corporate liability into opportunity
Writing in NLJ this week, Jonathan Fisher KC of Red Lion Chambers argues that the ‘failure to prevent’ model of corporate criminal responsibility—covering bribery, tax evasion, and fraud—should be embraced, not resisted
NLJ this week: A prince no more?
Professor Graham Zellick KC argues in NLJ this week that, despite Buckingham Palace’s statement stripping Andrew Mountbatten Windsor of his styles, titles and honours, he remains legally a duke
NLJ this week: Shareholder secrecy sunk
Writing in NLJ this week, Sophie Ashcroft and Miranda Joseph of Stevens & Bolton dissect the Privy Council’s landmark ruling in Jardine Strategic Ltd v Oasis Investments II Master Fund Ltd (No 2), which abolishes the long-standing 'shareholder rule'
NLJ this week: The expanding remit of national security law
In NLJ this week, Sailesh Mehta and Theo Burges of Red Lion Chambers examine the government’s first-ever 'Afghan leak' super-injunction—used to block reporting of data exposing Afghans who aided UK forces and over 100 British officials. Unlike celebrity privacy cases, this injunction centred on national security. Its use, the authors argue, signals the rise of a vast new body of national security law spanning civil, criminal, and media domains
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