Schlagwort-Archiv: legal-tech-blog.de

Heidelberg-based Aleph Alpha, calling itself a leader in the field of explainable and trustworthy AI, announced the successful signing of its Series B financing round. The company raised more than 500 million US Dollars from a consortium of a total of seven new investors as well as existing investors from previous rounds.

The consortium is led by the Innovation Park Artificial Intelligence (Ipai), Bosch Ventures and the companies of Schwarz Group. Other new investors include Berlin-based Christ&Company Consulting, the global edge-to-cloud company Hewlett Packard Enterprise and German multinational enterprise application software company SAP, as well as Burda Principal Investments. Existing institutional investors participate in addition, completing the oversubscribed round.

Each party involved in this round plays a vital role in helping Aleph Alpha achieve its goal of providing sovereign AI solutions to enterprises and governments. The total funding exceeds half a billion US dollars, encompassing a … … weiterlesen →

Inflexion Private Equity and Allen & Overy (A&O) have announced a strategic partnership to drive the continued growth of aosphere.

The legal and compliance data subscription platform will become a stand-alone entity with A&O retaining a significant minority stake in the profitable business it created in 2002.

As part of the transaction, Inflexion’s Partnership Capital II fund will make a strategic investment alongside A&O and Endicott Capital, a US-based investor specialising in the information services industry and comprised of experienced operators who have built and led successful companies through similar growth ambitions.

aosphere serves over 725 blue-chip clients including banks, asset managers and corporates, providing online legal analysis on a subscription basis across a range of key compliance topics in complex areas such as financial derivatives, shareholder disclosure requirements, cross-border marketing, and data privacy. The platform creates efficiencies for users by providing standardised legal analysis on … … weiterlesen →

LexisNexis® Legal & Professional, calling itself a leading global provider of information and analytics, announced general availability of Lexis+ AI for U.S. customers, a generative AI solution designed to transform legal work. Lexis+ AI delivers trusted results in a familiar, easy-to-use interface with linked hallucination-free legal citations that combine the power of generative AI with proprietary LexisNexis search technology, Shepard’s® Citations functionality, and authoritative content.

Developed with commercial preview users from leading global law firms, corporate legal departments, small law firms, and U.S. courts, Lexis+ AI answers are grounded in the world’s largest repository of accurate and exclusive legal content from LexisNexis. Lexis+ AI provides comprehensive results in seconds versus minutes, making it multiple times faster than any other legal generative AI solution available today. The solution’s AI capabilities were built internally at LexisNexis with world-leading tech … … weiterlesen →

Global legal intelligence company vLex released a suite of AI tools in its award-winning assistant Vincent AI, creating the world’s most comprehensive AI legal research platform. vLex launched the suite of large language model (LLM) tools in an invitation-only beta, and will roll them out to additional users in the coming months. 

Vincent AI is a significant step forward for AI-powered legal analysis, because it is based on one of the world’s largest online law libraries. vLex contains the law of more than 110 nations, and includes more than 1 billion cases, statutes, regulations, dockets, pleadings and motions in its collection. Vincent AI also uses secondary materials and expert treatises, many of which have expert analysis not included in other tools. 

The new Vincent AI tools already work in the United Kingdom, the United States, Ireland, and Spain, in English and Spanish, … … weiterlesen →

Evisort, calling itself the leader in artificial intelligence (AI) for contract lifecycle management (CLM) and analysis, announced its successful development of the industry’s first large language model (LLM) specifically for legal agreements. Evisort’s bespoke LLM will be a key component of the company’s new, multi-faceted generative AI engine, combining third-party and proprietary technology to bring unparalleled innovations to contract management.

The rise of general LLMs such as OpenAI’s ChatGPT, Anthropic’s Claude, and Meta’s LLaMA 2 has sparked the imagination of users and ushered in a new wave of AI investment. However, the complexity and unique terminology associated with contracts necessitate a domain-specific model to optimize the benefits of generative AI for legal and business stakeholders. 

Created by Evisort AI Labs, which has developed proprietary AI technology for legal use cases since 2016, Evisort’s LLM is a Transformer-based language model trained and fine-tuned … … weiterlesen →

Clio, calling itself the world’s leading provider of cloud-based legal technology, has announced a new end-to-end solution designed for law firms with personal injury practices. This solution is built on the legal industry’s most widely used cloud-based legal practice management software, Clio Manage, and addresses the distinct workflows, procedures, and requirements intrinsic to personal injury law. 

This launch marks Clio’s first practice-specific customization, delivering technology to meet the needs of 50,000 personal injury lawyers practicing across the United States. It also serves a demand for personal injury lawyers to work seamlessly on a centralized cloud-based platform within larger, multi-practice firms. 

“For too long personal injury lawyers have compromised on what they need from their technology partners—resulting in complex workflows, poor efficiency, and substandard user experiences,” said Jack Newton, CEO and Founder … … weiterlesen →

Darrow, calling itself the leading Justice Intelligence platform, announced that it has raised $35 million in Series B funding. Georgian led the round, which included current investors, F2, Entrée Capital and NFX, with Darrow earmarking the funds to recruit top talent in R&D and go-to-market functions, break into new legal domains and scale its large language models designed to detect and support potential class action litigation.

“Every day, countless legal violations impacting a vast number of individuals slip through the cracks, though the evidence behind these violations and the legal theories to support potential cases are widely available,” said Evyatar (Evya) Ben Artzi, co-founder and Chief Executive Officer of Darrow. “It isn’t humanly possible for lawyers to parse through this endless amount of data, so Darrow’s platform leads this crucial piece of the process, helping law firms grow their business while maximizing impact for the people they serve.”

Darrow’s … … weiterlesen →

Join UnternehmerTUM for an insightful journey at “How to Build a Legal Tech Unicorn” – a half-day conference taking place on the 27th of September in Munich!

UnternehmerTUM states that this event is dedicated to unravelling the intricacies of creating a game-changing and industry-defining business. Further, it presents an opportunity to meet high-profile speakers such as: Bastian Nominacher (Co-Founder, Celonis), Dagmar Mundani (General Counsel, Siemens Healthineers) and Jorn Vanysacker (Co-Founder, Henchman).

Law touches many aspects of our business and personal lives. Technologies such as generative AI or blockchain have the potential to fundamentally change the way we interact with law. To make this disruptive change happen, UnternehmerTUM is convinced that we need internationally scalable and successful start-ups.

In addition, the event will celebrate the first anniversary of the Legal Tech Colab – the emerging … … weiterlesen →

Baker Botts L.L.P., calling itself a leading international technology, energy and life sciences law firm, has announced the formalization of a cross-discipline, 60-plus-lawyer Artificial Intelligence (AI) Practice Team, following a sharp increase in client demand.

The group includes lawyers in nine offices and is co-led by partners Dino Barajas (Project Finance, San Francisco); Rich Harper (Litigation, New York); Maggie Welsh (Intellectual Property, New York); and Travis Wofford (Corporate, Houston).

The team provides transactional, regulatory, litigation and counseling services to clients in a wide range of industries, including technology, life sciences, energy, consumer products & services, financial & insurance services, manufacturing, and education & research.

The practice group helps clients navigate the dynamic world of AI as a full-service law firm with specific experience and expertise in AI legal matters. The team understands the complexities of AI, from data collection to training algorithms, machine learning, automation, and beyond.

In addition, Baker Botts is convinced it … … weiterlesen →

New data protection laws, increasing regulation, greater risk of cyber attacks: The challenges for entrepreneurs are becoming ever greater. However, compliance can be largely automated through artificial intelligence. Secjur calls itself one of the world’s leading providers in this field. The German legal tech scaleup is now launching its business in Switzerland.

On September 1, a new data protection law (revDSG) has come into force in Switzerland. All companies are now obliged to adapt to the revised regulations, which are aligned with EU directives. Secjur’s founders are very familiar with the EU regulations. In 2018, Niklas Hanitsch and Manuel Stahl founded their start-up for automated compliance, joined by Simon Pentzien and Sven Moritz as co-founders by 2021. Since then, they have won the German Start-up Cup for their solution. Just in time for the adaptation to the EU data protection law, they are launching their business in Switzerland with offices … … weiterlesen →

American Bar Association President Mary L. Smith announced the creation of the ABA Task Force on Law and Artificial Intelligence (AI) to examine the impact of AI on law practice and the ethical implications for lawyers.

The AI Task Force will explore:

• Risks (bias, cybersecurity, privacy, and uses of AI such as spreading disinformation and undermining intellectual property protections) and how to mitigate them
• Emergent issues with generative AI
• Utilization of AI to increase access to justice
• AI governance (the role of laws and regulations, industry standards, and best practices)
• AI in legal education

“The American Bar Association and the legal profession have always lifted their voices to lead and chart the future,” Smith said. “At a time when both private and public sector organizations are moving rapidly to develop and use artificial intelligence, we are called … … weiterlesen →

Agiloft, calling itself the global standard in agile contract lifecycle management (CLM), announced the release of AI Trainer, a powerful, new AI model training capability that will empower non-technical users to fully customize the way they review and analyze contracts. Designed to be a force multiplier for legal and contract teams, AI Trainer empowers non-technical, subject matter experts to train Agiloft’s AI to identify important key terms and clauses, so they can quickly analyze and draw actionable insights from their contracts, then share that business-critical intelligence with the rest of their organization to drive real enterprise value. Agiloft’s AI Trainer also actively accelerates its own training process by continuously learning and then auto-suggesting additional relevant data for users to consider tagging.

“No two contracts are quite alike, nor are any two organizations. That is why relying on pre-trained, generic AI models alone … … weiterlesen →

The Contract Network, an AI-powered contract collaboration platform, announced that it has raised $8M in Seed funding. The round was led by Tusk Venture Partners, with participation from Andrew Sieja (Founder of Relativity), The Legal Tech Fund, Mayo Clinic, Toba Capital, and GC&H Investments, an investment fund associated with Cooley LLP. The platform helps accelerate dealmaking by increasing the speed of the contract negotiation process.

Launched earlier this year, The Contract Network’s platform parses out contracts into their individual clauses, turning agreements into “data from the first draft,” and uses generative AI to provide context and market insights for each change and redline. Stakeholders can collaborate on contracts in real-time and with full visibility into every change that is made with AI-powered translation from legal jargon to plain language. The Contract Network works in concert with existing Contract Lifecycle Management (CLM) platforms and … … weiterlesen →

Filevine, the most powerful immigration case management software on the market, recently announced the launch of ImmigrationAI, a new tool that deploys artificial intelligence (AI) to help law firms streamline their immigration operations and simplify the immigration application process for their clients. ImmigrationAI joins Filevine’s other AI features, including AIFields and DemandsAI.

Utilizing existing case information stored in Filevine, ImmigrationAI extracts key data points from various documents such as licenses and passports, assists in completing USCIS forms, and tracks form statuses. Immigration attorneys and their clients not only benefit from AI-powered document scanning and automated form fill, unique to Filevine, but also application support via a questionnaire available in 170 languages and question guides to ensure completion. 

The existing process for filing immigration paperwork is complex and time-consuming, but with ImmigrationAI by Filevine, assembling documentation, completing forms, and tracking progress … … weiterlesen →

LexisNexis announced the acquisition of Case Law Analytics, a French legaltech company specializing in the modeling of legal risk using artificial intelligence.

Created in 2017, Case Law Analytics has developed a legal risk assessment solution based on a rigorous analysis of legal texts and the use of artificial intelligence and probabilistic models. The solution makes it possible to simulate the possible outcomes of litigation proceedings in more than twenty legal areas covering civil law, business law, social law. It provides valuable assistance in defining the best strategy to adopt to resolve a dispute, and easily find the case law closest to the case in question to better defend it. According to LexisNexis, the company now supports 6,000 users, within insurance companies, law firms, legal departments and human resources.

Eric Bonnet-Maes, CEO LexisNexis Continental Europe, … … weiterlesen →

LexisNexis Legal & Professional, a leading global provider of information and analytics, announced the integration of AI-powered solutions with Microsoft 365. Both companies are also working on solutions integrating Microsoft Azure OpenAI, built on a long-standing relationship and experience working with AI and large language models, and previously announced plans for incorporating generative AI into its products.

These integrated products – Lexis+®, Lexis® Connect, Lexis® Create, and Lexis®Create Plugin with Microsoft 365 Copilot – provide legal professionals with intelligent, AI-powered tools, enhanced capabilities, and more efficient, guided workflow experiences where they already work the most: Microsoft Outlook, Word, and Teams. Additionally, LexisNexis is focused on enhancing its use of GPT-powered technology with Azure OpenAI Service which has already been rolled out to customers via Lexis+.

 “Microsoft and LexisNexis have a long history of collaboration, and we’re excited about how our Microsoft-integrated products will help improve the lives and … … weiterlesen →

Everlaw, the cloud-native investigation and litigation platform, announced its EverlawAI portfolio with newly released generative AI features available in a beta program to give legal teams an instant leg-up in text-based work and greater productivity across legal workflows within its trusted and highly secure platform.

Everlaw unveiled three videos to outline the news and add greater context. 

Litigation requires legal teams to summarize complex documents and thread together facts from hundreds and even thousands of sources. Research shows drafting motions or briefs is one of the most time-consuming tasks for litigators, requiring on average more than 20 hours of work per month. Shortening the time to create written materials and summarize complex documents promises greater efficiency and productivity across the $ 950 billion global legal services market.

Not only does EverlawAI Assistant deliver speed in writing drafts, its AI insights are also tightly integrated throughout the Everlaw … … weiterlesen →

Die rightmart Group, einer der führenden Legal Tech-Anbieter für Verbraucherrechtslösungen, sichert sich 27,5 Mio. EUR – und schließt damit die bisher größte Series B-Finanzierung für Legal Tech-Unternehmen mit Verbraucherfokus in Deutschland erfolgreich ab. Diese wurde von zwei strategischen Investoren getragen: dem Rechtsschutzversicherer KS/AUXILIA, der bereits in der vorherigen Series A-Finanzierungsrunde investierte, sowie der LVM Versicherung, die als neuer Investor an Bord ist. Beide Investoren verfolgen langfristige Pläne, rightmart gemeinsam mit den Gründern aufzubauen. Der Vollzug steht noch unter dem Vorbehalt der Freigabe des Bundeskartellamts.

Finanzierung markiert Start einer Konsolidierungsstrategie

Seit ihrer Gründung 2016 verzeichnet die rightmart Group ein organisches Wachstum von durchschnittlich 60 % pro Jahr. Um dieses Wachstum weiter zu beschleunigen und Skaleneffekte zu maximieren, hat das Unternehmen die Series B- Finanzierungsrunde eingeleitet. Die Finanzierungsrunde soll nicht nur das organische Wachstum von rightmart unterstützen, sondern markiert auch den Start einer Konsolidierungsstrategie für den Verbraucherrechtsmarkt. So … … weiterlesen →

Knowliah, a leading European provider of Enterprise Legal Management solutions, announced that it has been acquired by STP Group, a leading provider of complete legal-tech solutions for lawyers, insolvency administrators, notaries and legal departments based in Karlsruhe, Germany. This strategic move underscores Knowliah’s and STP’s commitment to international expansion and solidifies their position as a key player in the legal tech industry.

Knowliah has garnered recognition as a trailblazer in legal tech, specializing in process optimization and communication within legal departments. By effectively managing operational and legal processes and streamlining document-related tasks, Knowliah’s AI-powered SaaS platform has revolutionized the way businesses operate. According to Knowliah, Gartner has acknowledged the company as an innovative enterprise legal management vendor, with its solutions trusted by more than 25,000 users across 25 countries, including esteemed companies such as Schindler, Allnex, Daikin, MSC, and Geely.

The acquisition by … … weiterlesen →

Global law firm Hogan Lovells announced the launch of ELTEMATE, a new Hogan Lovells technology brand. 
 

ELTEMATE will unify the firm’s legal technology offerings under one core global team to help provide clients with high end, digital solutions to address challenges in all areas of law.

Moving forward, the ELTEMATE brand will house and develop Legal Tech and AI solutions. Other products include smart databases, e-discovery tools, deal rooms, apps, and legal tech consulting services. ELTEMATE works closely with legal teams and will be home to AI experts and software engineers. In this regard, it will not only bundle third party solutions, but also develop its own, proprietary software. For example, the team has developed a new, cutting-edge AI tool, which enables clients to navigate the ever-changing landscape of regulatory developments by streamlining the review and processing of … … weiterlesen →

Thomson Reuters Corporation, a global content and technology company, announced it has signed a definitive agreement to acquire Casetext, a California-based provider of technology for legal professionals, for $650 million cash.

The proposed transaction will complement Thomson Reuters existing AI roadmap and builds on its recent initiatives, including a commitment to invest more than $100 million annually on AI capabilities, the development of new generative AI experiences across its product suite, as well as a new plugin with Microsoft and Microsoft 365 Copilot for legal professionals.

Founded in 2013, Casetext uses advanced AI and machine learning to build technology for legal professionals, creating solutions that help them work more efficiently and provide higher-quality representation to more clients. Casetext employs 104 employees, and its customers include more than 10,000 law firms and corporate legal departments.  

Casetext was granted early access to OpenAI’s GPT-4 large language model, allowing it to … … weiterlesen →

Aderant, a leading global provider of legal business management solutions, announced the introduction of MADDI, a revolutionary new AI-powered virtual associate that is being applied across the company’s applications and is intuitively designed to not only automate routine, repeatable tasks but enable actionable insights and behavioral prompts to optimize complex activities across the firm. MADDI brings calm to the growing chaos of billing and matter management by harnessing the power of AI through automation and predicted activities to streamline manual processes and solve firms’ biggest challenges.

MADDI is pre-trained on an extensive body of knowledge from several Aderant applications, requiring minimal experiential training from law firms, and ensures quick time-to-value with a continuous learning path. MADDI is the powerful engine behind the recently launched Onyx, a breakthrough solution that fully automates and unifies outside counsel guidelines (OCG) compliance across time, billing, and e-billing. MADDI is … … weiterlesen →

LexLab, a center at UC Law San Francisco that focuses on law, technology, and innovation, is joining forces with gener8tor, Village Capital, and the Justice Technology Association for a groundbreaking accelerator program supporting justice tech startups, according to a June 8 news release.

Launched in 2019, LexLab has worked with over 100 entrepreneurs to hone their offerings and is recognized as a leader in accelerating legal technology startups.

“There is a huge need to increase the availability and quality of legal services and tools in both the criminal and civil justice systems,” said Drew Amerson, director of LexLab. “We’re thrilled to be partnering with these amazing organizations in welcoming justice tech startups to the UC Law SF community, giving our students an opportunity to work with entrepreneurs committed to addressing the … … weiterlesen →

Lexion, the AI-powered contract management and operations workflow platform, announced a $20 million Series B funding round led by Point72 Ventures, with participation from Citi Ventures, and existing investors Khosla Ventures, Madrona Venture Group, and Wilson Sonsini. This latest investment brings the total amount raised to more than $35 million, allowing the company to further enhance Lexion’s core platform and AI capabilities to help every department close deals faster.

Originally developed at the Paul Allen Institute for Artificial Intelligence as a contract management system for lawyers, Lexion’s artificial intelligence and automation capabilities have accelerated legal work and streamlined processes across multiple disciplines, including sales, procurement, finance, and technology.

Gaurav Oberoi, CEO of Lexion, explains how the new funding will be used to accelerate Lexion’s AI landscape: “Lexion is all about helping every team do more business, faster. We’ve … … weiterlesen →

TPG and Thomson Reuters announced that they have signed a definitive agreement for TPG to acquire a majority stake in Elite from Thomson Reuters, valuing the business at approximately US$500 million. The Elite business provides financial and practice management solutions to the world’s leading law firms, helping customers automate and streamline critical finance and accounting workflows.

The transaction will enable Elite to operate with greater focus, providing additional resources and expertise to accelerate growth and better support its customers as they digitally transform to meet the evolving needs of their clients. Upon closing of the transaction, TPG Capital, TPG’s U.S. and European late-stage private equity business, will become the majority shareholder of the standalone business. Thomson Reuters will retain a minority ownership stake in the business and have board representation, supporting Elite strategically going forward.

“We feel strongly … … weiterlesen →

The international law firm Slaughter and May will pilot the JUST: Access proprietary AI large language model, part of a suite of transcription tools.

The language model, developed in conjunction with leading academics with the help of Innovate UK, was created by transcribing hundreds of hours of court audio using the very latest in Natural Language Processing, ChatGPT and Machine Learning.

Just: Access is a leader in speech to text transcription technology for the legal and regulatory sector. Its aim is to deliver market-leading accuracy, searchability and efficiencies around legal information to lawyers, such as those at Slaughter and May.

Frustrated by the cost and accessibility of legal transcripts, founder Sophie Walker, a practising barrister herself, developed JUST: Access as an AI transcription platform with … … weiterlesen →

On April 13, 2023, CodeX – The Stanford Center for Legal Informatics, hosts its eleventh annual conference focusing on the way technology is changing the legal profession and the law itself, and the way these changes affect us all.

CodeX FutureLaw brings together the academics, entrepreneurs, lawyers, investors, policymakers, and engineers spearheading the tech-driven transformation of our legal system. Join for a unique educational event and an opportunity to connect and exchange ideas with legal tech innovators from around the world. 

At CodeX, researchers and entrepreneurs design technologies for a better legal system; CodeX’s mission is to create legal technology that empowers all parties.

This year, speakers will cover the topics Court Process Automation, Government Relationship Management, NLP Technologies, Aligning AI with Humans, Blockchain, Crypto, and more.

You can register here.

For more information, visit … weiterlesen →

ContractPodAi, the award-winning AI-powered, contract lifecycle management (CLM) platform, announced the launch of Leah, its new AI services hub that is aimed to be a generational shift in the way CLM is delivered.

With the new release, ContractPodAi also shares its AI Best Practice framework as the underlying value-based principles steering the innovation and design of the AI technology to drive smarter, faster, and more predictive outcomes for customers. The three core values of the framework include:

• Following precedents and standardized processes and not “re-inventing the wheel” in contract negotiations with existing vendors and customers
• Measuring contract performance across core business functions and using real time benchmarking analytics with cohort trends to improve performance of contract management function
• Using AI technology in an ethical and responsible manner to drive better outcomes for businesses and their ecosystem stakeholders

“We are excited to share the next generation … … weiterlesen →

von Su Reiter

Innerhalb der letzten 20 Jahre ist das Thema Online Marketing für verschiedene Branchen zu einer Top-Priorität geworden. Auch die Rechtsbranche passt sich immer mehr an das digitale Zeitalter an. Für viele juristischen Dienstleister ist klar: Rechtsprodukte sind nicht nur eine lukrative Einnahmequelle, sondern erleichtern Ratsuchenden den Zugang zum Recht. 

Warum Kanzleien und juristische SaaS-Unternehmen dabei auf eine Marketingstrategie setzen sollten und worum es dabei konkret geht, erklärt Content Marketing-Expertin Su Reiter in diesem Fachartikel zum Thema.

Beratung vs. Software: Die Rechtsbranche verändert sich

Der Dienstleistungssektor hat sich in den letzten Jahren grundlegend verändert: Während es früher ausschließlich darum ging, klassische Beratungsleistungen anzubieten, entwickeln innovative Startups und moderne Kanzleien mittlerweile eine Vielzahl von verselbstständigten Rechtsprodukten, die sich durch eine gezielte Marketingstrategie verbreiten lassen.

Der Bedarf an Rechtstools ist so hoch, dass der Begriff „AGB-Generator“ allein in Deutschland fast 2.000 … … weiterlesen →