Leading Portuguese law firm, Morais Leitão, has deployed the UK-based deal platform Legatics to streamline its legal transactions. Morais Leitão is the first Portuguese firm to adopt Legatics. The deal comes at a time of growing demand for new and innovative legal tech products across Iberia’s commercial legal sector.
The move also comes as Legatics has been chosen as one of 12 UK legal technology companies to join a UK Legal Tech Trade Mission to Spain and Portugal in October 2019 with the Department for International Trade.
Daniel Porus, director and head of business development at Legatics, told Artificial Lawyer that the company is seeing increased interest in their technology across Iberia. And, this seems to reflect a general increase in legal tech product uptake across the region. For example, last month Spanish firm, Roca Junyent, picked legal AI company Luminance for doc review.
Luminance noted that this was their fourteenth Spanish customer. This suggests many of the major firms in Spain are now using AI doc review – or at least have a contract with a supplier to do so. Given that there are less than 20 notable commercial firms in Spain that most US and UK firms might work with on major deals, this is a significant chunk of the addressable law firm market.
But, back to Legatics.
Legatics is an ‘online, intelligent deal management platform that provides a more efficient and transparent method of running legal transactions’.
It assists with the systematic management of transaction workflows and the tracking of documentation required to conclude legal transactions, particularly in relation to banking and financing transactions.
And this is in turn ‘optimises time spent by lawyers on their legal transactions, adding value to the various transaction parties’ particularly in this case, Morais Leitão’s clients.
Filipe Lowndes Marques, who coordinates the banking and finance department at Morais Leitão, said: ‘[Legatics] is a new step in our commitment to our clients, to find innovative solutions and to use these solutions as tools to make our services more efficient and fluid, thereby allowing us to focus on what really matters: transactional experience and technical and business know-how.’
Porus, at Legatics, concluded: ‘Legatics has now been used in more than 20 countries, but Morais Leitão’s adoption of Legatics represents its first use in the Portuguese market. We are excited that Legatics will now form part of their day-to-day practice, providing a more efficient way to run their legal transactions and more enhanced experience for their clients.’