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The legal technology industry is expected to raise more than $2.5 billion by 2021, and different legal service providers are increasing in the market, as firms such as Deloitte & EY are growing their ranks in the legal information. This growth leads to new job opportunities.
However, while both legal professionals and non-legal professionals are driving changes in the legal profession and technology, career opportunities remain limited to lawyers despite the abundance of skilled professionals. JD.
Those familiar with this area know that you don’t have to be a lawyer to get into this area. Legal reasoning can be useful, but it shouldn’t be the norm.
Many people who are making changes in the legal profession without a law degree, including Ulf Zetterberg (Time is Ltd.), Jennifer McCarron (Netflix), and Stephanie Corey (UpLevel Ops) have been deeply affected by the work of the mostly new lawyers.
Law Students Can Become Lawyers
There are many reasons why people want to limit a role in legal or technological change to lawyers.
What if the foundation needs to set goals and objectives for legal leadership, manage a team of lawyers, or lead strategic initiatives across the legal department? These skills do not require a strong legal background, but we must address the concern that a person without a legal background can manage lawyers who practice law.
Take the example of the medical field.
Doctors are specialized licensed professionals in their fields, just like lawyers. The healthcare ecosystem consists of nurses, technicians, administrators, and more. Although doctors have great technical skills and unique domain knowledge, they don’t necessarily have to be at the top of every hierarchy in their field.
Consider the role of a health administrator. Doctors are trained to treat and heal people. But if you want to run a hospital, you can’t just study and practice medicine—you also have to learn how to run medicine for years.
Legal professionals are often barred by government unions from holding majority positions. Under the rules of the American Bar Association, law firms are prohibited from delegating power, other investment opportunities and sharing income to legal professionals, resulting in the firm’s attorneys leading all decisions regardless of whether they do so. within the ecosystem of legal professionals.
Legal restrictions on law firms have created a culture where we think you have to be a lawyer to run a legal team, but this is not the case. It is worth noting that there are no such restrictions in common law jurisdictions.
For example, the UK started offering legal professional investment in 2011.
Training in Equipment Law Technology
Legal technology continues to transform the delivery of legal services. Legal technology solutions include deep learning algorithms that automate search and data collection, and cloud-based enterprise solutions that simplify collaboration between law firms and corporate legal departments .
Although lawyers are the end users of this technology, they are not well versed in implementing these systems or teaching about them. Law schools are good at training students to identify legal issues and potential claims before signing a contract, but they are not essential for guiding all the technical aspects of negotiation, produce and change.
The legal profession needs to consider developing technology-related knowledge to better prepare lawyers for these “new legal” roles. At this point, we must admit that some of the most experienced experts in legal innovation and technology are developing and implementing these enterprise systems across some of the world’s leading organizations–and this space is multitasking.
Don’t forget that legal technology is not only about the law. The implementation of a contract management system, for example, often involves procurement, procurement, finance, and IT teams.
The need for a “JD” after one’s name is less important than the requirements of the job. Just because a position is in legal academics is not a reason to be a lawyer over a subject matter expert.
A law school education can also be discussed as a requirement for a job that is not primarily focused on providing legal advice. Appropriate hiring practices should target highly qualified candidates.
We live in an environment where 1,800 legal technology firms have received funding between 2016-2022. The legal technology environment is changing at a rapid pace, and law enforcement professionals, many without a JD, are evaluating the practice and publishing legal technology every day. Those skills are essential for today’s lawyers to carry out their responsibilities in business.
The Need for Development
While the future of legal innovation remains unclear, it is clear that law schools must evolve to meet the technological needs of students. At the very least, lawyers and legal professionals need more collaborative information about the educational need for legal technology.
Law enforcement professionals have a unique opportunity to emphasize the importance of designing and implementing a business solution ecosystem to drive better efficiency and decision making. If the data and trends tell us, law firms and corporate law departments must adapt to improve business outcomes, but law schools must change the way they teach in our new digital economy.
This article does not reflect the opinion of Bloomberg Industry Group, Inc., publisher of Bloomberg Law and Bloomberg Tax, or its owners.
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Author’s comments
Reminder Vice president of legal and business education at Evisort and lecturer at Harvard Law School. He helped create Evisort while in law school, and he talks about entrepreneurship and innovation.
Tom Stephenson He is the director of legal affairs for Credit Karma. He focuses on driving legal processes to run faster while implementing right-size technology solutions that provide meaningful data on how teams work.
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