Early September 2016 the European Legal Tech Association (the ELTA) was formally announced to the public, at its first meetup in Berlin - entitled: ''The First Wave of Legal Tech''.
ELTA aspires to become THE platform for the legaltech community, including startups, law firms, in-house legal departments, and entrepreneurs. Essentially, everyone aiming to drive the change in the legal scene, is welcome to join and contribute to the joint cause. ELTA aims to facilitate the much-needed discussion on the future of the business of law, and everyone aiming to drive the change in the legal scene is invited to have a say in that future.
It was proclaimed that ELTA ‘s mission is to promote the knowledge and applications of technology and software-based solutions in the legal industry (the legal tech). Additionally, ELTA will promote its members, be it interested companies, law firms, startups and other similar initiatives initiatives.
Speakers included Hariolf Wenzler, the newly appointed Chief Strategy Officer at Baker & McKenzie Germany and Austria - and Daniel Biene, the founder and CEO of LegalBase Digital.
Hariolf spoke about legaltech, and the challenges and opportunities for BigLaw. In his view, Biglaw is not doomed, as many are quick to proclaim: “There is still life in the old dog. Biglaw is neither dead, nor dying. Our time is not over, our days, months, or years, are not numbered…”
Daniel shared his experiences, for all those considering starting a consumer-orientated legal service. He presented his five lessons learned from LegalBase:
Lesson #5: Do not listen to lawyers
Lesson #4: Demand does not equal actual demand
Lesson #3: Legal is emotional
Lesson #2: Awareness and perception are everything
Lesson #1: A startup is a startup
The ELTA sees this kickoff is just a start of a wonderful journey and a huge step for the European legaltech community. Startups, but also law firms, corporate legal department, and educational institutions can potentially benefit from the value this community will create.
The original post entitled ''Old Continent awakes: ELTA consolidates Legaltech community in Europe'' provides more detailed information and was written by Ivan Rasic (CEO LegalTrek)