To build or buy? That is the question. But what does it, in fact, take to develop a really successful legal tech company?
To build or buy - that is the question!
Creating well-functioning legal tech solutions is not an easy task. You need a good business case, proper project management, the right people to execute it and then you need to take it to the market and ensure that it is used in the right way. Most will also say that it requires a truly user-centric mindset and a fundamental understanding of how to agile processes.
Some law firms have decided to develop these products inhouse. They form incubators, organise hubs and make in-house tech teams, so they gain competitive advantages. Others believe in buying these products off the shelve. They let technologists and digital experts do their job and develop the tech for them.
What is the most efficient way to operate? And what does it, in fact, take to develop a really successful legal tech company?
For this discussion, we invited top experts on legal tech and innovation Henrik Fagerholt (former CTO in Bahr Leap and current CTO in Coright, John Engholm who is the co-founder of InsiderLog - and finally, Sophie Martinetz from Legal Tech Hub Vienna.