Legal tech is one of the hottest
issues in our sector. Wenger Vieli adapted to this trend early on
and believes it offers great opportunities for the further
development of legal services of outstanding quality.
When Wenger Vieli was founded, the
most important technical devices were the typewriter, the dictation
machine, and the telephone. That situation has fundamentally
changed in only 50 years. Typewriters and dictation machines have
almost entirely disappeared, and even the telephone is being pushed
aside by videoconferencing.
A lawyer’s most important tool
these days is a computer with Internet access. Legal research is
done by inputting search terms in online databases that sort the
re- sults by relevance. Legislative texts, which are amended sooner
and more frequently these days, are retrieved online, guaranteeing
that the most recent version is consulted. Letters from lawyers,
legal briefs, and memoranda are drafted on the computer and often
transmitted electronically – and are increasingly also signed
electronically. Physical client files have been replaced by
electronic files stored in the cloud, acces- sible from all over
the world.
Those are only a few examples of how
legal tech has revolutionised lawyers’ day-to-day work.
Information technology has become an integral part of the legal
profession. It has transformed the way legal work is done, created
new business models, and changed the profile of requirements for
legal practitioners. But this trend is still in its infancy.
Digitalisation will make legal work much more efficient and ensure
that the work product is of higher quality. That is because
software will be able to review legal documents, generate
contracts, and clarify legal questions faster and more thoroughly
than human beings can. Automated legal services that barely involve
intervention by lawyers are being provided more often these days.
One example are blockchain-based smart contracts which implement
agreements inmachine-readable form that run automatically when
predetermined conditions are met. Digital transformation is
developing exponentially, which means that future digital changes
will take place even faster and be more radical than in the past.
That raises the question of what trends will have the greatest
influence over next 50 years.
Legal tech as an opportunity
Will lawyers and tax experts still be
needed if artificial intelligence allows software to understand,
review, and generate texts better? Is there a risk that legal
advisers will be replaced by IT specialists and machines? And what
effects will this have on the legal system in general? Avoiding
these questions would be just as disastrous as for a lawyer doing a
research based only on case law from before the year 2000 which is
available in printed form.
Legal tech can be a threat, but if
used sensibly it is really more of an opportunity. Legal tech will
replace a great deal of routine work, allowing lawyers to focus on
more complex, interesting activity. At the same time, personal
contact will continue to play an important role in coming decades.
There is seldom an objectively best solution in the field of law;
instead, there are different variants offering advantages and
disadvantages that fit in with the client’s individual needs to
a greater or lesser degree. Accordingly, there will still be a need
for personalised legal advice and custom solutions even as
digitalisation advances.
From an international viewpoint, the
United States is the current leader in the field of legal tech,
which is why it is worth to take a look overseas. Switzerland is in
the mid-range among industrialised countries. This is due not least
to the fact that legal systems differ from country to country and
that many providers focus on the largest English-speaking markets.
Switzerland is a leader in the area of blockchain technologies and
with its Crypto Valley can even assume a pioneering role worldwide.
Some of the assets it offers are the ability to innovate,
well-trained specialists, a cluster with promising blockchain
projects, capital for young companies, a high degree of legal
certainty, neutrality, and an attractive tax situation. Those
location-based advantages could generally help Switzerland benefit
even more from the future digitalisation of legal services.
Latest legal tech projects
One reason Wenger Vieli is gaining
valuable momentum in the area of legal tech is the strong
positioning our firm enjoys with start-ups in the digitalisation
sector. We use software and tools to provide legal services. We
keep digital client files, use cloud services and online databases,
are switching to Internet telephony, hold video conferences, use
qualified electronic signatures to sign contracts, and have an
in-house IT department.
Our firm also offers the
“Digital Lawyer”, which can be used to download profes-
sional contract templates free of charge and also provides an
interface to the Commercial Register allowing documents for
personnel changes to be generated simply, securely, and quickly. We
also use legal tech applications on a case-by-case basis when
conducting due diligence in the context of company acquisitions. We
are currently working with our partner Leva to launch a platform
that will allow start-ups and investors conducting financing rounds
to negotiate contracts, automatically generate documents, and
complete capital increases.
Thanks to these legal tech
applications, we can offer legal services under attractive terms
and conditions, attract new clients, guarantee a high level of
quality, and strengthen our market position.
Equipped for the future
Digitalisation has radically changed
day-to-day routine in our firm. But we are in the early days of
legal tech, which will result in a far more fundamental
transformation of legal services. We are taking advantage of this
trend to provide our services more efficiently and to further
improve their quality. Wenger Vieli has already implemented many
valuable legal tech applications, both in our in-house processes
and as part of the services we offer. As an innovative firm, we
will continue to keep a close eye on the legal tech trend, evaluate
and integrate current offerings, and create new ones. As a result,
we are positioning ourselves as a firm that is taking advantage of
the opportunities offered by legal tech to ensure that we are
well-equipped for the next 50 years.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
#Legal #Tech #Changing #Field #Law #Technology
