Credit: IRStone/Adobe Stock Growing Consolidations and Cutbacks May Make Tech Contracts Precarious
Familiarity and friendship often leads corporate legal departments to choose one legal tech provider over another, but as vendor M&As and cutbacks grow, experts urge legal teams to do more research before adopting a tool.
January 26, 2023 at 04:20 PM
5 minute read
The original version of this story was published on Corporate Counsel
In a precarious economy, a fast-growing industry like legal technology is seeing two parallel trajectories: company cutbacks, and mergers and acquisitions.
It is no secret that tech adoption in legal at large is a tedious process—complete with long training cycles to replace manual procedures, and complex change management processes to implement them. When a tech solution that's been accepted by a legal team suddenly changes hands due to an M&A, sees technical disruptions due to layoffs, or is lost due to the vendor shuttering, the consequences can be far reaching.
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