John Wiley & Sons The LegalTech Book Cover Written by prominent thought leaders in the global fintech and legal space, The LegalTech Book aggre.. Product #: 978-1-119-57427-9 Regular price: $27.94 $27.94 In Stock

The LegalTech Book

The Legal Technology Handbook for Investors, Entrepreneurs and FinTech Visionaries

Bhatti, Sophia Adams / Datoo, Akber / Indjic, Drago (Editor)


1. Edition July 2020
280 Pages, Softcover
Wiley & Sons Ltd

ISBN: 978-1-119-57427-9
John Wiley & Sons

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Written by prominent thought leaders in the global fintech and legal space, The LegalTech Book aggregates diverse expertise into a single, informative volume. Key industry developments are explained in detail, and critical insights from cutting-edge practitioners offer first-hand information and lessons learned. Coverage includes:

* The current status of LegalTech, why now is the time for it to boom, the drivers behind it, and how it relates to FinTech, RegTech, InsurTech, WealthTech and PayTech

* Applications of AI, machine learning and deep learning in the practice of law; e-discovery and due diligence; AI as a legal predictor

* LegalTech making the law accessible to all; online courts, online dispute resolution

* The Uberization of the law; hiring and firing through apps

* Lawbots; social media meets legal advice

* To what extent does LegalTech make lawyers redundant or more efficient?

* Cryptocurrencies, distributed ledger technology and the law

* The Internet of Things, data privacy, automated contracts

* Cybersecurity and data

* Technology vs. the law; driverless cars and liability, legal rights of robots, ownership rights over works created by technology

* Legislators as innovators

* Practical LegalTech solutions helping Legal departments in corporations and legal firms alike to get better legal work done at lower cost

Preface viii

About the Editors xi

Acknowledgements xiii

1. An Introduction to LegalTech: The Law Boosted by AI and Technology

We are Voyagers 6

Mapping and Classifying LegalTechs 11

Educating for Disruption, Innovation and Legal Technology 15

An Introduction to Mapping and Classifying LegalTech 18

In-House Counsel Can Drive Industry Change Through Legal Technology 21

The Role of LegalTech in Financial Services: A Case Study 24

How Artificial Intelligence is Transforming the Legal Profession 27

Can the Law Keep Up with the Growth of AI? 30

Fairness, Accountability and Transparency - Trust in AI and Machine Learning 35

The Chiron Imperative - A Framework of Six Human-in-the-Loop Paradigms to Create Wise and Just AI-Human Centaurs 38

Lawyers' Ethical Responsibility to Leverage AI in the Practice of Law 43

Dispute Resolution 2.0: The Era of BIG Data, AI and Analytics 46

Why All LegalTech Roads "Point" to a Platform Strategy 50

An Introduction to the Internet of Things 53

2. Law and Data

Technology and the Law - Data and the Law 60

I Make the Rules, Why Should I Care About LegalTech? 63

From Legal Documents to Legal Data 67

Acquisitive Information Extraction Framework for Legal Domain 70

Legal Expert Systems 74

Tech vs Law: Consent 76

New Privacy Laws Require Changed Operations on Commercial Websites 78

Dealing with Tensions Between the Blockchain and the GDPR 83

Rise of the Legalbots: How In-House Teams and Business Lines Benefit 87

AI is Changing Boardroom Dynamics 90

Cloud Computing Contracts 93

3. Technology vs Law

LegalTech in Our Daily Lives 102

The Evolution of the Legal Marketplace 105

Technology and In-House Counsel 108

Smart Home or Spy Home? 111

Cybersecurity: Myths and the Hero's Journey 114

Legal Talent Platform Economy - The Beginning of the End? 120

Can Intelligence Be Appropriated: Ownership Over AI 122

The Electronic Creation Right (ECR) 125

4. Cryptocurrencies, Distributed Ledger Technology and the Law

Distributed Ledger Technology and the Legal Profession 132

Cryptoasset Regulation: Clarification and Guidance 136

The Legal Implications of Digital Security Offerings 139

Cryptoassets and Market Abuse 142

Cryptosecurities: Traditional Financial Instruments on a Distributed Ledger 145

The Use of Digital Tokens for the Boost of Supply Chain Finance 149

5. Smart Contracts and Applications

LegalTech's Impact on the Role and Job of a Lawyer 156

Smart(er) Contracts - Digitizing Contracts for a New Age 160

Smart Contract and Traditional Contract 165

Getting Smart: Blockchain and Smart Contracts 167

Legal Prose to Code: Restructuring Contract Templates for Blockchain Automation 170

The Legal Framework of Pay-Per-Use Financing 175

6. Legal Technology: Increasing or Impeding Access to Justice?

Legal Technology: Increasing or Impeding Access to Justice? 182

The Crucial Role of LegalTech in Access to Justice 185

Digitizing Disputes 187

Humanize with LawTech Lawyering 190

From Fair Hearing to FairTech Hearing: Improving Access to Justice in the UK Asylum and Immigration Process 193

The Dark Side of Technology in Law: Avoiding the Pitfalls 196

Closing the Justice Gap - Technology is Not the First Step 199

Combining AI and Digitization of Judgments for Access to Justice 202

7. LegalTech Around the World

Legal Implications of Artificial Intelligence in China 208

Mapping LegalTech Adoption and Skill Demand 211

A Case Study of Adoption of Legal Technology in a Non-Western Market 215

Why Now s the Time for LegalTech to Boom 218

8. The Future of LegalTech

LegalTech's Legacy? 224

Back to the Future: How LegalTech is Changing the Law Firm 227

How Much Disruption Can We Handle? 230

The Role of RegTech in Delivering Better Regulatory Compliance 232

Creating Supervised Independence for FinTech Companies via Regulatory Sandboxes 237

Patterns of Speech: A Future of AI-Authored Legal Reasoning and Arguments? 240

From Innovation Frenzy to Productivity Steadiness 243

The Humans Strike Back: The Fall of the Robots in LegalTech's Future 245

List of Contributors 247

Index 255
SOPHIA ADAMS BHATTI is a public policy expert, with 20 years' experience across a range of sectors. She is the Head of Strategy and Policy at Simmons Wavelength.

SUSANNE CHISHTI is the CEO of FINTECH Circle and the Founder of the FINTECH Circle Institute, a leading global FinTech learning and innovation platform to gain FinTech and digital skills. She is the bestselling author of several fintech books and a global public speaker.

AKBER DATOO is Founder and CEO of D2 Legal Technology, a global award-winning legal data and change consultancy operating at the intersection of FinTech & LegalTech, and an appointed member of the Technology and Law Committee at the Law Society of England & Wales.

DR DRAGO INDJIC is Managing Director at Oxquant, a data science and investment advisory firm, and co-founder of several alternative funds and tech companies across Europe.