LegalTech in Digital Economy and in Legal Regulation of Individuals Economic Activities

Natalya Savenko

Natalya Savenko Southern Urals State University (National Research University) http://orcid.org/0000-0001-9689-0818

Keywords: LegalTech, digital economy, artificial intelligence, Big Data, smart contract, legal regulation of individuals’ economic activity, legal literacy, registration and reporting automation, control over economic agents’ activities

Abstract

Based on law and doctrine, the article examines the categories of ‘digital economy’,‘LegalTech’ and ‘individuals’ economic activities’ in their interaction. It stresses that those categories represent Russia’s priority lines of development and can be fully digitalised. Legal science reflects diverse interpretations of LegalTech. There is a widespread understanding is that LegalTech is a narrow toolkit for lawyers. The author argues for an expansive interpretation of LegalTech as a comprehensive phenomenon intended for a wide range of economic agents, and shows LegalTech to be both anelement of the digital economy and a digitalised means for legal regulation of individuals’ economic activities. Trends and risks in the implementation and use of LegalTechtools are identified. In the aspect of legal regulation, the functional characteristics of LegalTech are formulated on the basis of an instrumental legal approach.

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Author Biography

Natalya Savenko, Southern Urals State University (National Research University)

Assistant Professor, Candidate of Sciences (Law)

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