In terms of dispute resolution, the problem of accessibility to the law is also prominent: for low-value disputes, Thai lawyers are often unavailable or too expensive and people tend not to claim their rights.
Legal techs allow to evaluate the chances of success of a dispute by integrating little by little the legislation and the jurisprudence to their algorithms and eventually to resolve the dispute amicably or before the competent jurisdiction. The technology used allows to drastically reduce the cost of litigation.
From an investor’s point of view, there are three types of technologies offering legal services:
|➤ Administrative software facilitators.|
|➤ Support solutions (management, HR, documents, accounting).|
|➤ Substantive law solutions (which can be likened to online legal services platforms).|
The difference was made between marketplaces, i.e., platforms for listing and connecting professionals, and legal services platforms, with greater potential, according to the founders of Themis Partner. Market disruption began with standard, simple tasks, but more complex tasks are also exposed to the rise of legal techs, which challenges law firms’ revenue model, which could “explode in flight.”
In order to promote the innovation of legal services, Themis Partner has highlighted in recent years the need for collaboration between lawyers and legal platforms, as in the United States. Software-based legal platforms for low value-added tasks, and specialized lawyers for strategic advice.
In the end, through legal techs in general, legal is made easy. Themis Partner predicted the coming market disruption in Asia by artificial intelligence technologies. The market share distribution, according to Themis Partner’s founders, will therefore be heavily in favor of legal techs within 5 years while legal experts will be limited to high-value legal advice and strategy.
Themis Partner Law Firm is currently recruiting a Senior Corporate Lawyer for our corporate department based in our Bangkok office.
Our mission is to unleash the full potential of entrepreneurs in Thailand and we are looking for exceptional people and business leaders to join us! In this role you will become part of our corporate team of Thai and International Lawyers.
This is an exciting time for Themis Partner as we continue to grow and evolve, offering our teams a very satisfying start-up legal culture with career development opportunities.