Law Department Technology Tech Center
A legal department is a corporation’s internal legal team. The size of a legal department can range from one lawyer to thousands. One characteristic almost all have in common is the pressure to do more with less — to manage increasing complex loads of legal matters and rosters of outside counsel while facing tightening budgets and greater scrutiny of their legal spend.
For the specialized needs of corporate legal departments, corporate counsel and legal operations professionals, companies have developed a range of products designed to help them work more efficiently and productively and better manage their internal work and the work of their outside law firms.
Within this Legal Tech Center are the following categories of products:
Cap Tables. Cap Table applications automate the tracking and management of corporate equity interests such as stock, options, SAFEs and restricted stock, and may include additional services such as tax and accounting reports.
Enterprise Legal Management (ELM). Enterprise legal management products support the practice management and operations functions of corporate legal departments. Core functions may include matter management, e-billing, spend management and reporting.
Spend Management and E-Billing. Spend management software is used by in-house legal teams to plan, track, control and review outside counsel legal costs.
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Categories of software used in Law Department Technology
Cap Tables
Enterprise Legal Management (ELM)
Spend Management and E-Billing
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