Financial Times recognises Taylor Wessing's innovative use of technology

Lawyers Tim Stocks

Taylor Wessing has been recognized for its innovative use of technology by the Financial Times' 2011 Innovative Lawyers Report.  The Report, published today, names Taylor Wessing's recently launched subsidiary, New Street Solutions, as the ‘Standout’ entry in the Technology category, ahead of innovations from Allen & Overy, Hogan Lovells and Mills & Reeve. View the table here.

The Report describes Taylor Wessing's launch of New Street Solutions in May this year as an example of how the "need to be efficient is…pushing some law firms into an area of more classical innovation – that of product invention".

Tim Stocks, the Taylor Wessing partner who led the development of New Street Solutions, comments:

“We believe New Street Solutions will profoundly transform the way legal services are delivered, so we're delighted it has been recognized by such a prestigious source. Unlike other initiatives that have sought efficiencies by sending volume legal work to lower-cost jurisdictions, New Street Solutions aims to enhance the value-added aspect of legal services, enabling clients to manage costs through the use of technology whilst gaining access to a more comprehensive and consistent service in many areas. This is about using technology to work smarter, not just cheaper."

Ends

New Street Solutions is a division of Taylor Wessing that offers a pioneering technology-enabled combination of data mining, active contract management and due diligence services. Taylor Wessing developed the service in response to the continued demand from businesses for greater speed, innovation and efficiency in the provision of legal services.

Visit New Street Solutions for further information.