Key takeaways from the LegalTechTalk 2024 conference in London

What do general counsel expect from their law firms?

“I refuse to pay for information I already have,” exclaims the general counsel of an energy company, when asked about his top criteria for appointing external law firms.

“This is a simplistic view and certainly no solid basis for building a long-term, fruitful relationship with panel law firms,” retorts the general counsel of a multinational, responsible for managing the legal functions of more than 15 countries. “If you expect a law firm to add value and provide actionable business advice, in-house lawyers and external counsel must share knowledge and build common ground. This requires investment and trust from both sides.”

“‘Trusting’ is not the first adjective that comes to mind when describing lawyers: they have been trained to stay on their guard and to be sceptical, to better protect their clients. Making the switch does not come easy,” responds a legal innovation officer at a corporate law firm.

“They must understand that general counsel do not always expect guaranteed correctness: receiving their best-informed opinion in urgent matters is the priority, and forecasts that turn out to be wrong are part of business life. Giving your panel law firms clear guidance on the type and amount of work they can expect from your company also helps build trust: if the lawyers can invest enough in understanding your company and your expectations, they will proactively suggest ways to work more efficiently.”

How are law firms organising themselves to respond?

“When working with general counsel, our lawyers’ objective is to act as an extension of their team,” confirms the head of innovation at a law firm in continental Europe. “Our first focus when onboarding a new client is to find counterparts whose working and communication style matches that of the general counsel. To tackle each of their issues, we then set up ad hoc teams with the right mix of field expertise, educational background and levels of seniority.”

Why is technology becoming a law firm deliverable?

“In addition to the right team, data-driven process analysis is key to delivering legal services efficiently,” adds Jordan Lee, Chief Strategy Officer of Pogust Goodhead, a law firm specialising in collective redress. “Once you identify a step that can be automated, or repetitive patterns that can be streamlined, the tech team can step in and capture even the smallest marginal gains. These quickly add up to substantial cost savings and higher quality.”

“There is a clear trend: clients expect their lawyers to also act as technology advisers whenever legal processes can be optimised. For example, in Neur.on’s field of expertise, any client facing major translation challenges in a legal case expects their lawyers to have a cost-efficient and secure solution ready. Testing, benchmarking and co-creating LegalTech tools have become part of what law firms deliver.”

These are a few takeaways from the conference. Mark your calendars for next year’s edition! A big thank you to Bradley Collins, Charlotte Johnstone and Merlin Beyts for the brilliant organisation.