TLT is partnering with Barclays Eagle Labs to launch an incubator designed to help LawTech businesses to start-up, scale-up and become international leaders in their field.
The Lab will be based in Notting Hill, London, creating a centre of excellence that will offer co-working space, support for up to 100 individuals, events and meet-up space.
The partnership will see TLT's corporate and technology lawyers offer expert legal advice and support to some of the UK's most promising LawTech start-ups, and support the firm's drive to harness the latest technologies to evolve its legal services proposition in line with client needs.
TLT, which last year announced a partnership with US technology company LegalSifter to offer clients the first "combined intelligence" solution for contract negotiation in the UK and Ireland, will advise on everything from setting up and structuring a business, to drafting shareholder agreements and employment contracts, securing funding and protecting IP.
Through partnering with Barclays, TLT will also gain invaluable insights into how the UK LawTech market is evolving and be able to test and adopt new technologies.
Ashok Vaswani, chief executive of Barclays UK, says: “LawTech is an area where the UK has every reason to be a world leader. It is home to some of the greatest law firms in the world and we want to help build on the success of its legal sector, and play a leading role in transforming LawTech in the future. The impressive range of partners supporting this initiative shows just how important this is."
Jon Gill, partner at TLT, adds: "TLT is extremely proud to be a part of this initiative. The LawTech market is growing rapidly and there are significant opportunities for businesses that have a strong proposition and a solid business plan in place.
"We are also seeing increasing investor interest as the market matures and law firms start to realise how technology can help deliver a better service for them and their clients."