Technology Keeps Legal Tech 'Davids' Competitive. But Can It Dislodge Goliaths?
While legal tech startups likely can't compete against the marketing budgets of legacy competitors, the quality of the technology on the table may ultimately serve as the true differentiator—even inside of content-driven markets such as the legal research space.
February 10, 2021 at 10:00 AM
7 minute read
The legal tech market has long pitted the size and scope of well-established legacy companies against the nimbleness of startups eager to bring a new approach to old problems. Still, whether or not smaller entrants to the technology space are truly the David to an incumbent provider's Goliath is likely a question of resources, software quality and, of course, the customer base they are competing over in the first place.
And in the long run, even those dynamics may not be impervious to change. "What made David and Goliath interesting is it's not that Goliath is necessarily better than David. He's just bigger and stronger," said Zach Abramowitz, a consultant and investor in the legal technology space.
Bigger and stronger doesn't count for nothing, though—a sentiment that may hold truer in the legal research arena than any other corner of the tech market. For example, ROSS Intelligence announced in December that it would be shutting down operations effective Jan. 31, in a move the company attributed to an ongoing lawsuit from Thomson Reuters that accused ROSS of using copyrighted Westlaw content to train its AI systems.
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