Given the ongoing coronavirus pandemic, legal service providers are increasingly recognizing the necessity to come up with new ways of responding to the needs of their clients. In particular, this concerns the changes in customer demand for legal help in England. Before the pandemic hit, the sector of legal services in the UK had already been using new technologies as a means of automating different processes. The coronavirus pandemic has made the need for using IT technologies for rendering legal services in the UK even more urgent.
Being an undisputed leader in the field of legal services & technologies, the UK is actively promoting IT technologies in the legal sector. In particular, the Ministry of Justice has recently allocated 2 million pounds toward supporting the growth & development of IT technology in the legal services sector. That makes opening an IT business in the UK an even more attractive option.
Recently, a new project called LawtechUK Sandbox has been unveiled. Being a joint initiative between the British government & private investors, the project is aimed at transforming the UK legal sector through innovative technology.
It is expected that Sandbox will be operating in roughly the same way as the regulatory sandbox created by FCA. The latter has contributed heavily to the development of the fintech sector in Great Britain. It will be a research environment in which hightech enterprises, government agencies & the legal sector can test & explore new products. This creates even more incentives for investors to open a legal services business in England.
The British government is also planning to launch an online platform for pre-trial settlement of disputes between small and middle-sized businesses in England. Thanks to the platform, companies will be able to take advantage of an alternative method of resolving disputes connected to untimely payment in the UK. Also, the platform will be hosting a training center offering free digital courses and a number of tools for peaceful settlement of commercial disputes in England.
Technology & innovation will be playing a key role in ensuring the adaptation of the country’s economy to the new coronavirus pandemic. New technologies will help the economy get back on track after the COVID-19 crisis is over, and it is expected that the legal services sector will play a big role in this.
Looking for new approaches to solving your legal problems? Need legal help with opening a company in England? Considering licensing a company in England for various types of activities? Need legal advice for pre-trial settlement of a commercial dispute in the UK? IQ Decision UK is the answer..