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I am clearly biased with my answer here, as Elevate has built our own legal technology (Cael), which we sell to law firms and law departments. But even so, it staggers me that law firms continue to feel the need to develop their own technology in-house. Just like running their own back office, this is of no value to their customers. The largest ten law firms in the world do not add up to a rounding error on one percent of the largest companies in the world. They also distribute all their profits at the end of each year, so finding capital for long term projects such as building software, is challenging. And finally, they are not software companies… they are law firms! Plus it is vital for law firms to be somewhat agnostic when it comes to technology. So by all means have a view (and a third-party tool in house that you are trained on and will use in the absence of anything else). But to build your own software as a law firm makes no sense to me.
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