[Legal Tech Co., Ltd.] Legal Tech Co., Ltd., “Legal Tech VDR Supports project management and sharing of software development documents using “Information/Communication”
*Legal Tech Co., Ltd.*
Press release: August 27, 2024
**
Legaltech uses “Legaltech VDR Information/Communication” to support project management and sharing of software development documents *～Utilizing VDR to achieve success in client contracts and regulatory compliance～*
Legal Tech VDR Information/Communication
Support services for domestic and overseas litigation, intellectual property platform “Tokkyo.Ai”, blockchain-based electronic contract platform “Keiyaku”
Legal Tech Co., Ltd. (Headquarters: Tokyo Miyakominato Ward, Representative Director and President
Takahito Sasaki
Legaltech VDR (hereinafter referred to as Legaltech) is a solution that supports project management and sharing of software development documents in the information and communications industry, and achieves success with client contracts and regulatory compliance.
We have started providing information and communications.
Legaltech VDR information/communication screen
* ■Past successes and future challenges in Japan’s information and communications industry*
Japan’s information and communications industry has experienced rapid growth over the past several decades and achieved successes that have garnered attention worldwide. However, we expect to face new challenges in the future. Below is a summary of past successes and future challenges.
past success
1. Advanced technological development and innovation
From the 1980s to the 1990s, Japan developed many innovative technologies in the field of information and communication technology (ICT) and led the world. In particular, in the fields of mobile phone technology and optical fiber communication technology, advanced technological development was advanced mainly by NTT, and the country succeeded in building an information and communication infrastructure, including commercially deploying the world’s first 3G network.
2. Popularization of mobile communication
Japan is also known as a pioneer in mobile internet, along with the widespread use of mobile phones. The i-mode service developed by NTT Docomo is a revolutionary technology for connecting mobile phones to the Internet, and has been a huge success not only in Japan but also overseas. This has accelerated the spread of mobile internet and formed a global trend.
3. Integration with the electronics industry
Information and communication technology has developed in close connection with Japan’s electronics industry. Companies such as Sony, NEC, Fujitsu, and Panasonic boast global shares in fields such as computers, semiconductors, and display technology, and the
incorporation of these technologies into communications equipment and network infrastructure will increase the competitiveness of the entire industry. It has increased.
4. Internet infrastructure development
Japan has focused on developing broadband internet from an early stage. Thanks to cooperation between the government and private companies, high-speed Internet connections have become widespread across the country, and Internet use in homes and businesses has expanded rapidly. This has accelerated the transition to an
information society and fostered the growth of e-commerce and digital content markets.
Future challenges: Full-scale deployment of 5G and development of 6G 5G networks are bringing new opportunities and challenges to the information and communications industry. 5G, which is capable of ultra-high speed communication, low latency, and mass connectivity, is expected to be used in a variety of industries, but infrastructure development and cost are major challenges to its widespread use. Furthermore, research and development on 6G has begun, and as technology competition intensifies, it is necessary to deploy these technologies quickly and effectively in order to maintain
international competitiveness.
summary
Japan’s information and communications industry has achieved many successes in the past and has led the world, but in the future it faces new challenges such as the speed of technological innovation, intensifying global competition, and increasing security risks.
* ■Various issues faced by Japan’s information and communications industry* The main challenges facing Japan’s information and communications industry are summarized below.
1. Delay in digital transformation (DX)
– assignment:
Although many companies are trying to advance digital transformation (DX), progress is slow. Especially for small and medium-sized enterprises and local companies, the development of IT infrastructure and the lack of digital human resources are obstacles, and the digitalization of operations is not progressing.
– Impact:
There are concerns that this delay will reduce corporate
competitiveness and delay improvements in business efficiency. Accelerating DX is essential to maintaining international
competitiveness.
2. Lack of IT human resources
– assignment:
In the information and communications industry, there is a serious shortage of human resources with advanced IT skills. In particular, there is a shortage of specialized human resources in the fields of AI, big data, cloud computing, and cybersecurity, and this is a factor hindering the promotion of DX.
– Impact:
A shortage of IT human resources may cause companies to delay the introduction of new technologies and system development, leading to a decline in competitiveness.
3. Cybersecurity vulnerabilities
– assignment:
The risk of cyberattacks is increasing year by year, and with the spread of IoT devices and cloud services in particular, there are many companies that do not have adequate security measures. There is an urgent need to strengthen cybersecurity.
– Impact:
Cybersecurity vulnerabilities pose a risk of information leaks, economic losses, and loss of corporate trust. Addressing this requires company-wide security measures.
4. Intensifying global competition
– assignment:
Japanese information and communications companies face intense international competition from competitors from China, South Korea, the United States, and other countries. It has been pointed out that competitiveness is declining, especially in the areas of smartphones, communication equipment, and cloud services.
– Impact:
Loss of market share and decline in competitiveness in the global market could hinder the growth of Japanese companies.
5. Responding to the speed of technological innovation
– assignment:
As technological innovations such as AI, IoT, 5G, 6G, and cloud computing progress rapidly, Japanese companies are required to quickly adopt these technologies and reflect them in their products and services. However, there are cases where the speed of response is slow.
– Impact:
If we are unable to respond quickly to technological innovations, we risk making our products and services uncompetitive in the
marketplace.
6. High cost structure
– assignment:
Japan’s information and communications industry is faced with a high cost structure, and its competitiveness is declining due to the high cost of personnel and infrastructure development in particular. The complexity of regulations and administrative procedures also contributes to increased costs.
– Impact:
A high cost structure puts companies at a disadvantage in price competition and may lead to a decline in profitability.
7. Complexity of the regulatory environment
– assignment:
The information and communications industry operates under many regulations and legal systems. The costs and procedures required to comply with regulations such as the Telecommunications Business Act, Personal Information Protection Act, and Antimonopoly Act are placing a heavy burden on companies.
– Impact:
The complexity of the regulatory environment risks slowing new business development and market entry, leading to a decline in competitiveness.
8. Stagnant innovation
– assignment:
It has been pointed out that innovation in Japan’s information and communications industry is stagnant. They are creating fewer new business models and innovative services, and are losing global market leadership.
– Impact:
Stagnant innovation can lead to a decline in a company’s
competitiveness and market presence.
9. Digital divide between rural and urban areas
– assignment:
There are disparities in digital infrastructure development and IT literacy between rural and urban areas. While urban areas have a high level of IT literacy and infrastructure development, rural areas tend to lag behind in digitalization.
– Impact:
This digital divide may widen economic disparities between regions and impede local economic development.
summary
Japan’s information and communications industry faces a variety of challenges, including the speed of technological innovation, global competition, and cybersecurity. To address these challenges, it is essential to accelerate DX, develop IT human resources, strengthen cybersecurity, review cost structures, and promote innovation. They also need to adapt to the regulatory environment and bridge the digital divide.
* ■Resolving issues with “Legaltech VDR Information/Communication” that allows secure sharing of transaction data*
“Legaltech VDR (Virtual Data Room)
Information and Communication can provide solutions such as:
1. Support for accelerating digital transformation (DX)
– Solution:
“Legal Tech VDR
“Information/Communication” strongly supports information digitization and secure data management. Companies can go paperless by digitizing, securely storing and sharing contracts and important documents. This improves business efficiency and enables real-time document access and sharing as part of DX.
2. Support for IT talent shortage
– Solution:
“Legal Tech VDR
By utilizing “Information and Communications,” legal and financial operations can be made more efficient, and data can be managed and protected without relying on IT personnel. VDR has a user-friendly interface and can be easily operated without specialized knowledge, so even companies struggling with a shortage of IT personnel can smoothly introduce and operate it.
3. Strengthening cybersecurity
– Solution:
“Legal Tech VDR
“Information/Communication” provides advanced security features to prevent information leaks and unauthorized access. Data encryption, access control, audit log functions, etc. strongly protect
confidential corporate information and reduce the risk of cyber attacks. This helps address the cybersecurity challenges faced by the information and communications industry.
4. Strengthening global competitiveness
– Solution:
For global projects and transactions, “Legal Tech VDR”
“Information and Communication” enables quick and secure information sharing. Streamline your global expansion and increase your
competitiveness by efficiently and securely sharing documents with suppliers and partners across multiple countries and regions.
5. Improving the efficiency of regulatory compliance
– Solution:
Japan’s information and communications industry must comply with complex regulations. “Legal Tech VDR
Information & Communications provides version control and auditing capabilities for all documents, facilitating regulatory compliance. It also reduces the burden of regulatory compliance by streamlining document management to meet various compliance requirements.
6. Improvement of high cost structure
– Solution:
“Legal Tech VDR
Information and Communication is more cost-effective than physical data management, reducing storage, management, and sharing costs. Remote access also reduces the cost of physical travel and equipment. This improves the company’s overall cost structure and increases competitiveness.
7. Fostering innovation
– Solution:
“Legal Tech VDR
“Information and Communication” functions as a platform to facilitate collaboration between companies. We will promote innovation by strengthening open innovation and collaboration with partner companies. When starting a new project or conducting M&A, information can be quickly shared, supporting the creation of new business opportunities.
8. Bridging the digital divide between rural and urban areas – Solution:
“Legal Tech VDR
Because information and communications can be accessed from anywhere via the Internet, information sharing and business management can be done evenly between urban and rural areas. This will allow local businesses to utilize digital tools in the same way as those in urban areas, contributing to eliminating the digital divide.
summary
“Legal Tech VDR
Information & Telecommunications provides powerful solutions to the many challenges faced by Japan’s information and telecommunications industry. It is expected to increase the competitiveness of the entire industry through functions such as promoting digitalization, strengthening cybersecurity, streamlining regulatory compliance, and reducing costs. By implementing VDR, companies can effectively address these challenges and achieve sustainable growth.
* ■Functions of “Legal Tech VDR Information/Communication”*
The specific functions provided by “Legaltech VDR Information and Telecommunications” are designed to effectively solve the challenges faced by Japan’s information and telecommunications industry. Below are its main features and solutions for each challenge.
1. Safe management and storage of documents
– Advanced encryption:
All documents are protected with advanced encryption technology to ensure data safety. Encryption is applied both at rest and in transit, minimizing the risk of information leakage.
– Access control:
You can set different access privileges for each user, giving you fine-grained control over who can access which documents. This prevents unauthorized access to sensitive information.
access control
– Version control:
Document versioning allows you to track changes and easily access past versions. This allows you to always keep the latest information and refer to past data.
version control
2. OCR function
– Digitization of documents:
Convert paper documents and scanned image files to text data using OCR functionality. This allows non-digital documents to be managed as easily searchable data.
– Improved searchability:
Using text data extracted by OCR, keyword searches within documents are possible. You can quickly search for the necessary information from a large amount of documents, improving work efficiency.
3. Security features
– Dynamic watermark:
By automatically inserting dynamic watermarks into downloaded or viewed documents, we prevent unauthorized information leakage. Watermarks often include information about the viewer and the date and time of the visit, allowing for tracking.
– Audit log:
All document accesses and operations are recorded in detailed audit logs. This allows you to see who viewed and downloaded which documents and when, which can be useful in investigating security incidents. – Automatic lock function:
There is a feature that automatically locks the session if no files are viewed or downloaded for a certain period of time, reducing security risks.
Security features
4. Efficient document sharing
– User management:
It provides the ability to efficiently manage large numbers of users, even for large projects. Set different access privileges for each user group to ensure that only the necessary members can view the necessary information.
– Real-time collaboration:
Provides collaboration features that allow multiple users to access documents simultaneously, add comments, and exchange feedback in real time.
– Secure link sharing:
When sharing specific documents or folders externally, you can generate secure links, set access deadlines, and set password protection.
5. Data analysis and reporting
– Usage analysis:
It has the ability to analyze document viewing status, number of downloads, user activity, etc. within the VDR. This allows you to understand which documents are attracting the most attention and how engaged users are.
– Automatic report generation:
It has the ability to automatically generate periodic reports based on audit logs and usage data. This allows you to easily understand project progress and security status.
6. Compliance
– Regulatory compliance:
We provide data management functions that comply with the laws and regulations of each country (GDPR, HIPAA, etc.) and support companies in achieving compliance.
– Data retention policy:
There is a function to automatically manage data retention period and deletion timing based on company policy. This allows data management to comply with regulations and internal policies.
summary
LegalTech VDR is a versatile platform that helps you manage, share, secure, and comply with documents. We provide effective solutions to various challenges faced by the information and communications industry, including document digitization using OCR, improved searchability, advanced security features, and efficient collaboration tools. This enables you to improve operational efficiency, reduce risk, and accelerate digital transformation.
Legal Tech VDR Information/Communication
* ■What is VDR?*
VDR is “Virtual Data
“Room” is a SaaS (Software-as-a-Service) solution that uses the Internet to store sensitive data and share it with third parties. It has features such as notes, bookmarks, multi-factor authentication and digital watermarking. Because it does not require physical data storage and can be accessed immediately from anywhere, it serves as a sharing tool for product design and development documents in the information and communications industry. VDR is used for document management with suppliers in the information and communications industry.
*■Global VDR market will double to $1.6 billion in 2021 and $3.2 billion in 2026*
According to ResearchStation, the global VDR market will be worth $1.6 billion in 2021, but this is expected to double to $3.2 billion in 2026.
https://researchstation.jp/report/MAM/26/Virtual_Data_Room_2026_MAM2657.html
* ■Product overview*
Product name: “Legaltech VDR Information/Communication”
Availability start date: August 27, 2024
URL:
https://www.legaltechvdr.jp/notice/ict/
* ■ Operating environment (browser) *
OS Browser
Microsoft Windows Google Chrome
Mac OS Google Chrome
* [About Legal Tech Co., Ltd.] *
Name: Legal Tech Co., Ltd. Representative: Takahito Sasaki
Established: June 2012
Location: 4F Toranomon 40MT Building, 5-13-1 Toranomon, Minato-ku, Tokyo Capital: 51 million yen
URL: https://www.LegalTech.co.jp/
Established in 2012 as a 100% subsidiary of AOS Technologies Co., Ltd., a long-established legal tech company founded in 1995. Established in . We have been providing e-discovery and forensic services since 2015.
In 2010, the 10th award was awarded for making a significant contribution to improving the lives of the people through technology for criminal investigation and corporate fraud verification. Received the “Minister of Economy, Trade and Industry Award” at the Japan New Business Creation Awards. In the future, LaaS (LegalTech as a Service) will become a full-fledged service in Japan.
We have shifted our efforts to blockchain authenticity determination system “HyperJ.ai
”, next-generation electronic contract portal “Keiyaku.Ai