Legal Technologies in Action: The Future of the Legal Market in Light of Disruptive Innovations

Qian Hongdao, Sughra Bibi, Asif Khan, Lorenzo Ardito and Muhammad Bilawal Khaskheli
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Qian Hongdao: Guanghua Law School, Zhejiang University, Hangzhou 310058, Zhejiang, China
Sughra Bibi: Guanghua Law School, Zhejiang University, Hangzhou 310058, Zhejiang, China
Asif Khan: Department of Tourism and Hotel Management, School of Management, Zhejiang University, Hangzhou 310058, Zhejiang, China
Lorenzo Ardito: Department of Engineering, Università Campus Bio-Medico di Roma, 00128 Rome, Italy
Muhammad Bilawal Khaskheli: Guanghua Law School, Zhejiang University, Hangzhou 310058, Zhejiang, China

Sustainability, 2019, vol. 11, issue 4, 1-19

Abstract: Legal technologies (digital solutions to providing legal services) have turned into the essential element of competition among legal-market stakeholders. This study highlights the competitive superiority of legal services based on the concept of innovative disruptive technologies in comparison to traditional firms. For this purpose, the present study identified several trends in the evolution of the legal tech market (i.e., changing landscapes of legal business, delivery models, legal-market segments, and disruptive technologies); moreover, qualitative content analysis has been conducted to provide sound grounds for cost-benefit analysis. Furthermore, cost-benefit analysis makes a comparison of the monetary, social and psychological costs, benefits of legal technologies and traditional firms from clients’ and lawyers’ viewpoints. This has been, in fact, neglected by extant research. Based on these analyses, a new model for legal business has developed to highlight how potential advancements can take place in legal practices. Our findings reveal that legal technologies make legal services more affordable and easily accessible, while helping lawyers to develop innovative solutions and a relaxed working environment. In addition, this study contributes to the literature on service innovation with a focus on how new services and business models have been developed in the legal market as a result of digital technologies. Eventually, this study adds theoretical and practical implications to the research discussing the advent of legal technologies.

Keywords: legal technology; disruptive technology; online legal services; sustainable solutions; legal market; market segmentation; traditional law firms (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2019
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (6)

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