finnCap Group presents Inside the Deal – a strong case for Legal Tech

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inside the deal

Watch the live panel debate here

We’ve teamed up with the finnCap Group to go ‘Inside the Deal’ in a series of virtual events that you will not want to miss. We begin this series by looking at Legal Tech, which is now a rapidly-growing sector globally and both law firms and investment houses are taking note.

Investment in the sector has been accelerating at speed. £175m in 2016 rose to £1.56bn globally in 2020, with the UK contributing £260m to Legal Tech.  Deals in this sector rose from 106 in 2016 to 186 deals in 2019. This push towards tech in the legal industry is being met by an increasing number of LawTech startups – of which there are now more than 250, up from 70 three years ago.

Host

Oli Barrett MBE

Panel

John Farrugia: Managing Partner, finnCap Cavendish
Richard Mabey: CEO, Juro
Jon McNerney: Vice President at Caselines, part of Thomson Reuters
Callum Murray: Founder and CEO, Amiqus
Lorraine Robinson: Head of Legal, Farewill
Joanna Stone Herman: Partner, Oaklins Desilva + Phillips
Christopher Thurn: Founder, Alacrity Law

Here’s a breakdown of what we covered:

John Farrugia: What does the term ‘Legal Tech’ mean and what does it cover? (6:27)
Joanna Stone Herman: What is driving the rise in investment in Legal Tech? (7:58)
Jon McNerney: Who does Legal Tech benefit? (11:41)
Jon McNerney: There is the perception that judges aren’t the most tech-literate people, what have you learnt catering to individuals at different levels of tech knowledge? (12:58)
Richard Mabey: Could you tell us about what your company does, specifically around contract automation? (15:15)
John Farrugia: Do you believe big tech companies like Microsoft and Google might enter the Legal Tech space? (17:37)
Callum Murray: Could you tell us about your business and its origin? (18:38)
Lorraine Robinson: Could you tell us about your business and is it primarily B2C? (21:15)
Lorraine Robinson: How have you learnt catering to individuals at different levels of tech knowledge? (22:37)
Christopher Thurn: Legal Tech is, essentially, about helping to navigate through confusion, so could you tell us about your business and how it helps with the hiring process? (24:00)
Joanna Stone Herman & John Farrugia: Do you believe that Legal Tech is an area that is ripe for disruption? (26:40)
Christopher Thurn & John Farrugia: Do you agree that Legal Tech is an area in need of disruption? (31:16)
Richard Mabey, Jon McNerney & Callum Murray: Could you give us an idea of who is the consumer that is buying Legal Tech? (33:16)
Christopher Thurn: Is Legal Tech a way of resolving tension within an organisation but is held back by the fact that the powers that be may not understand it? (37:42)
Joanna Stone Herman: Do you believe that Legal Tech is an area that is ripe for disruption? (39:25)
Lorraine Robinson: Do you find that your business leads your customers into new ways of doing things or do you find yourself guided by them? (40:56)
Lorraine Robinson, Richard Mabey & Jon McNerney: With more and more being automated, what role will humans play in the future of law? (42:18)
Callum Murray & Lorraine Robinson: If you’re putting tech for good in the centre of your business, how do you toe the line between profit and purpose? (47:05)
John Farrugia: Legal Tech’s role seems to be ‘automating the unglamorous’. Are you seeing this across multiple industries? (48:57)

Questions from the audience

Jon McNerney, Christopher Thurn & Richard Mabey: I’m a lawyer and I feel that too much automation can be too much and we need human interaction too. But are there parts of the legal process that you could see becoming fully automated? (50:09)
Joanna Stone Herman, Lorraine Robinson & John Farrugia: In regards to dealmaking in this space – is it active or is the space still maturing? (53:20)

• Final word from Callum Murray (56:35)
• Final word from Jon McNerney (57:38)
• Final word from Lorraine Robinson (58:15)
• Final word from Richard Mabey (58:43)
• Final word from Christopher Thurn (59:27)
• Final word from Joanna Stone Herman (1:00:10)
• Final word from John Farrugia (1:01:11)

Watch the other editions of Inside the Deal here.

Be sure to subscribe to the Business Leader YouTube channel for more interviews with some of the UK’s leading business figures.

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