AI & Law Conference by recode.law in January

On 20 January 2022, the first AI & Law Conference will be held by recode.law in cooperation with the Oxford Fintech & Legaltech Society. Due to the still ongoing pandemic, the event will take place online.

After artificial intelligence has increasingly moved into the public discourse in recent years, it is now also increasingly the subject of scientific and practice-relevant debates within the legal industry. With the AI & Law Conference, recode.law would like to offer an international platform that takes a closer look at the interface of AI and law.

The conference will be characterized by an interdisciplinary exchange of experts from computer science and law as well as other disciplines such as philosophy, behavioral economics and business administration.
Through panel discussions and keynote speeches, the organizers aim to converse about the potential of machine learning models in the application area of law and provide a … … weiterlesen

Consilio Announced Acquisition of Legility

Consilio, a global provider of eDiscovery, document review, risk management, and legal consulting services, announced it has closed the acquisition of Legility, a global legal services provider. According to Consilio, the acquisition will broaden the enterprise’s legal services and flexible legal talent solutions offerings.

Consilio aims to strengthen its capabilities to deliver a complete legal services experience across a spectrum of client needs worldwide while considerably increasing its European capabilities and solutions.

Legility has a proven track record of creating excellent predictive and automated enterprise-wide legal driven processes that blend analytics, purpose-built workflows, and information-driven process improvements that help legal teams achieve operational success,” said Andy Macdonald, CEO of Consilio. “This acquisition unlocks greater scale and resources while aligning with our strategy to invest in differentiated solutions that result in a consistently exceptional client experience.”

Legility will enhance Consilio’s resources with a deepened breadth of new talent in managed review, … … weiterlesen

Impressions From ELTACon 2021: FROM CHAN(G)E TO CHAN(C)E

by Jan Gilarowski & Karoline Dotterweich

This year, ELTACon 2021 took place online from 29 November to 2 December. The key topic was LEGAL TECH & INNOVATION – From Chan(g)e to chan(c)e. Christina Blacklaws opened the conference with an inspiring Kick-Off-Keynote. 

Participants had the opportunity to catch up on the latest developments in various sessions, panel discussions and lectures. Everyone could get involved via a live chat. The attendees, who came from more than 39 countries around the globe, were also able to network and exchange ideas in various video networking sessions. 

During the conference, Sina Kreft and Julia Brünjes supervised the different program items.

Please note that the following impressions can not capture all speakers nor topics. For a complete overview, have a look at the ELTACon2021 website

Listening to Christina´  s and other speeches it became apparent that Legal Tech is a clear … … weiterlesen

LexisNexis Announced Acquisition of Closd

LexisNexis Legal & Professional announced that it has acquired Closd, a provider of legal transaction management in Europe, founded in 2018. Terms of the transaction were not disclosed.

Closd operates a legal transaction management SaaS platform that aims to make the management of complex legal projects simpler, safer and faster. Its end-to-end legal project management solution includes automated workflow management, secure document sharing, data rooms, electronic closing, transaction bible generation and document archiving. According to Closd, the company serves more than 42,000 users consisting of transactional lawyers, in-house legal counsels and dealmakers in Europe and beyond.

Closd will become part of LexisNexis Legal & Professional, an established global provider of legal, regulatory and business information and analytics, that aims to help customers increase their productivity, improve decision-making and achieve better outcomes. The acquisition of Closd is part of a global … … weiterlesen

Ulster University Has Launched A Legal-Tech Masters Course

Ulster University’s Legal Innovation Centre has launched a masters course which straddles both a Masters in Law (LLM) and a Masters of Science (MSc) to address the growing adoption of technology by law firms. The new programme is called “LLM/MSc Corporate Law, Computing and Innovation” and has been created in partnership with legal and tech leaders in Northern Ireland.

This novel course, based at the Belfast Campus, is designed as 50% computer science and 50% corporate, financial and tech law, with the Schools of Law and Computing, Engineering and Intelligent Systems collaborating under one umbrella, for the first time. This allows for the development of a multidisciplinary graduate: a tech-savvy lawyer or a computer science graduate who has a unique appreciation of legal and financial services.

Multi-national corporate partners have offered support to the new programme, including: Citi, Allen & Overy, Baker McKenzie, Herbert Smith Freehills, A&L Goodbody, Pinsent … … weiterlesen

FiscalNote Announces to Go Public

FiscalNote Holdings, Inc., an AI-driven enterprise SaaS company that delivers legal and regulatory data and insights, and Duddell Street Acquisition Corp., a publicly traded special purpose acquisition company, announced that they have entered into a definitive business combination agreement that will result in FiscalNote becoming a publicly listed company with a pro forma market capitalization of approximately $1.3 billion. 

Upon closing, the combined company will operate under the FiscalNote name and trade on the Nasdaq under the ticker symbol “NOTE”.

With global CEOs and organizations facing increasing regulatory pressure, FiscalNote provides insights and data on government activity and impact by leveraging proprietary artificial intelligence, machine learning, and other advanced technologies embedded in its workflow software to collect and analyze global legislative, regulatory, and geopolitical data for clients around the world. 

When we founded FiscalNote in 2013, we set out to build a category creating technology company that would … … weiterlesen

Everlaw Has Raised $202M, Now Valued at More Than $2B

Everlaw, a cloud-based legal technology platform specialising in electronic discovery (ediscovery), has raised $202 million in a series D round of funding from high-profile investors including Alphabet’s Capital G. The Oakland-based company is now valued at more than $2 billion.

Founded in 2010, Everlaw helps law firms, corporations, and government agencies find electronically stored information and evidence relevant to a specific lawsuit during the litigation phase. This could mean searching through emails, digital documents, databases, audio files, social media, and all the associated metadata.

The Everlaw platform includes features for uploading documents locally or from the cloud, making them easy to search and filter from a centralized interface. It includes advanced analytics such as “email threading,” which makes it easier to review emails in their original timeline order, while data visualizations can unearth insights across multiple documents. Permeating all of this are machine learning-powered tools that can automatically … … weiterlesen

LEGAL LIVE – Impressions from the Virtual Event

by: Laura Bingenheimer & Karoline Dotterweich

The LEGAL LIVE Fall Congress took place virtually from November 9 to 11. According to Jochen Brandhoff, CEO of LEGAL (R)EVOLUTION GmbH, the conference aims to close the gap between theory and practice. Closing this gap is a major challenge, but important to ensure long-term success in the legal world. 

Attendees were able to network on the LEGAL LIVE platform via chat and video telephony, as well as interactive conference offerings such as roundtables and panel discussions. 

The moderator Shenna Büchler led through the various program items. She welcomed all attendees in the morning and closed the event in the evening. 

Here are just a few impressions from the event. Please note that these insights do not reflect all topics and speakers of the event (as they would be far too numerous to mention here). If you would like to see … … weiterlesen

“Is Code Law?”

By Tian Ma

In “Code and Other Laws of Cyberspace”, Lawrence Lessig famously coined the term “code is law” (Lawrence Lessig, Code and Other Laws of Cyberspace [1998]). While the term has been interpreted and appropriated in countless ways, a deeper reading reveals Lessig’s actual argument. By “code is law”, Lessig did not in fact propose that code and law were epistemologically identical. Rather, by dismissing assumptions behind the idea that the cyberspace was inherently a creature of freedom and liberty, Lessig sought to expose the capacity for regulation which code shared with law. Lessig argued that code regulates the cyberspace just as how law regulates meat-space societies, and can serve as an additional medium for the law to indirectly influence behaviour in the cyberspace.

Fast forward two decades, and Lessig’s then stark warnings of code’s regulatory potential would barely raise an eyebrow today. The Internet protocol, despite … … weiterlesen

ELTACon 2021 From November 29 to December 2

ELTACon, the legal tech and innovation conference by the European Legal Tech Association, ELTA, will take place online from November 29 to December 2, 2021. Under this year’s motto “Legal Tech & Innovation – from Chan(g)e to Chan(c)e” the conference will be all about getting valuable insights by legal tech experts from all over Europe and beyond. Tickets can be bought not only by ELTA members.

Each day of the conference will have its own theme: Day one will be all about Leadership, Strategy & Innovation, day two will cover Legal Tech Education, and on the third day speakers will talk about Business & (Legal) Tech.

Some of the announced speakers are:

  • Rebecca Williams, Professor of Public Law and Criminal Law, University of Oxford
  • Itzik Amiel, Bestselling Author, Business Mentor and Founder & CEO of THE SWITCH
  • Jon Bartman, ELTA Ambassador UK & Head of Jameson Legal Tech, Jameson Legal
  • Raymond Blijd, CEO, Legalcomplex & … … weiterlesen

LEGAL LIVE Autumn Conference Will Take Place from November 9 to 11

LEGAL LIVE Autumn, the virtual sister event of LEGAL REVOLUTION, brings the legal market together virtually for the second time this year from November 9 to 11.

Exchange ideas at the conference, find out what new solutions are available in the legal and compliance market and bring yourself up to date.

You can expect exciting presentations from Georg Eisenreich (Bavarian Minister of Justice), Judith Gerlach (Bavarian Minister of Digital), Dr. Ulrich Wessels (President, BRAK), Pascale Schmidt (Chief Compliance Officer & Head of Sustainability, F. Hoffmann-La Roche), Dagmar Mundani (General Counsel, Siemens Healthineers), Dr. Thomas Dickert (President, Higher Regional Court of Nuremberg), Prof. Dr. Ralf Köbler (President, Regional Court of Darmstadt) and many more experts.

In addition to presentations, LEGAL LIVE Autumn brings a practice-relevant professional program with use cases, panels, roundtables, workshops, coaching sessions and the products and services of our exhibitors directly to your office or desk … … weiterlesen

Nigerian Legal Tech and Law Firm Expands into US, Canada and UK

TLP Advisory, a Nigeria-based legal firm focused on Africa’s tech industry, says that it is expanding into the UK, US and Canada. Founded in 2014 as The Longe Practice, TLP in 2015 launched DIYLaw, a self-service legal tech platform. DIYLaw recently introduced a digitized, B2B dashboard aiming to simplify and automate many of the processes required by Africa-focused entrepreneurs.

TLP – which at nine employees (according to LinkedIn) is small – has facilitated $400m of investments over the past five years. Its self-service platform makes access to legal services simple and affordable through API integrations with partners such as Prospa and Access Bank. It automates over 20 activities such as company registration, employee documentation and non-disclosure agreements based on location and sector.

With its expansion outside of Africa, TLP’s plan is to act as a conduit between the continent’s technology companies … … weiterlesen

McDermott Will & Emery Invests $10M in The LegalTech Fund

International law firm McDermott Will & Emery announced a USD $10 Million anchor investment with The LegalTech Fund, a venture capital fund that invests in, and helps entrepreneurs build, legal technology companies. McDermott joins as an Anchor Partner in the Fund, a move the Firm made to advance its commitment to propelling client success through innovation and creative counsel.

We are always working to peer over the horizon for our client—this time through a very crowded legal technology landscape,” said McDermott Chairman Ira Coleman. “We want to fund the best ideas and leverage the exceptional experience of the team behind The LegalTech Fund to shape the legal technology market moving forward. Our phenomenal growth over the last few years has put us in the position to make this happen, and we are doubling down on that success as we look to the future.

The LegalTech Fund covers the … … weiterlesen

Integration potential of new Legal Tech – One key takeaway from this year’s ILTACON

by Shayan Edalati & Jan Gilarowski

This year’s ILTACON took place as the first legal tech hybrid event of 2021. With over 2000 registrants from over 20 countries, it was another successful conference. Panelist Ali Shahidi, Chief Innovation & Client Solutions Officer at Sheppard, Mullin, Richter & Hampton, mentioned that lawyers need to take into consideration the integration potential of new legal tech.

A legal technology platform does not enter a vacuum: lawyers already utilize various platforms or apps. These can range from ubiquitous applications such as Outlook and Office to SaaS platforms such as SharePoint and iManage. Legal tech must have some ability to integrate within the existing universe of software used by a firm or company. Regardless of whether a legal tech vendor says their platform is holistic, not all existing solutions can be effectively replaced. Therefore, the integration capabilities, or lack thereof, of … … weiterlesen

Clio Unveils Payments Tech Platform

Cloud-based legal tech provider Clio unveiled the new Clio Payments platform, a foundational payments technology built to better integrate payments into the company’s platform. Clio Payments enables lawyers to facilitate client-centered payment options, easing the billing and collections process while offering secure and compliant online payment choices for their clients. 

Through our work with tens of thousands of legal professionals, we know that the most frequent point of friction in attorney-client relationships is collections,said CEO Jack Newton. “Financial matters bear a heavy burden on firm operations, time, and revenue. Streamlining this single touchpoint has the potential to fundamentally change where legal professionals spend their time—and who can access legal services. We see this as a critical juncture in realizing our mission to transform the legal experience for all.”

The expansion into fintech marks a defining chapter in Clio’s product roadmap as it builds cloud-based and client-centered technologies for … … weiterlesen

DocuSign Launches “Ventures” Fund to Target Legal Tech Startups

DocuSign, the world’s leading e-signature provider and contract manager, introduced DocuSign Ventures, a new investment initiative to target the growing ecosystem of entrepreneurs and startups in the legal tech sector.

DocuSign Ventures focuses on co-investing in and partnering with companies raising early stage funding to innovate around the agreement process.  By staying close to and working with the startups innovating at the edge, DocuSign aims to help its customers identify and integrate new solutions. This includes technologies that facilitate pre-agreement work and negotiation, in addition to the logistics and workflows that may result after an agreement is signed.

DocuSign Ventures is interested in a diverse range of innovative technologies being used to transform how agreements are created, executed, and managed including:

  • Agreement process automation and workflows
  • AI and smart contract technology
  • Identity verification and management
  • Digital payment platforms
  • Legal and compliance automation technologies
  • Vertical … … weiterlesen

PERSUIT Secures $20M in Series A Funding

Legal tech company PERSUIT announced it has raised $20 million in its Series A funding led by OpenView. The company will use the resources to invest in accelerated capabilities across its product range and enhanced data insights to best support and grow its customers.

PERSUIT’s SaaS platform connects Fortune 500 companies like UBS, HSBC, Johnson & Johnson, Novartis, Facebook and Intel with law firms and other professional service providers. The first technology purpose-built to optimize the outside counsel selection process, PERSUIT has helped their customers more quickly connect with the right outside counsel while cutting their spend by an average of 37% for each engagement, translating into a savings upwards of tens of millions of dollars.

We are very excited to have OpenView on board,” said Jim Delkousis, Founder & CEO of PERSUIT. “With their significant capital injection, capability, and expertise in … … weiterlesen

Burges Salmon Launches Legal Services Platform for Start-Ups

UK law firm Burges Salmon announced the launch of a new technology platform – BScale – which provides legal services for start-ups, scale-ups, founders and investors, to support fast-growth companies in the technology sector throughout their life-cycle.

BScale platform is built to support high-growth businesses through the sharing of knowledge, provide free of charge legal documentation through the BScale Document Generator as well as high-quality legal advice at a price point that is realistic for early stage businesses, and to enable Burges Salmon to build lasting and strategic relationships with exciting and innovative technology companies and their investors.

According to Burges Salmon, the dedicated BScale team is able to offer the depth of knowledge to work through mission-critical funding rounds, the inevitable regulatory, tax, employment and commercial challenges that come with scaling a business, and the expertise to protect value when the time comes to exit.

Alex Lloyd, a … … weiterlesen

ContractPodAi Raises $115M Growth Funding Led by SoftBank Vision Fund

ContractPodAi, the London based provider of AI-powered contract lifecycle management (CLM), announced a USD $115 million Series C investment headed by SoftBank Vision Fund. This latest round saw ContractPodAi’s valuation increase 5x from its previous Series B round in 2019.

As part of the transaction, Ayush Jain of SoftBank Investment Advisers will join the ContractPodAi Board. Proceeds from the round will go towards further accelerating ContractPodAi’s platform capabilities and expanding its market presence internationally, leveraging SoftBank’s networks to capture new opportunities in the APAC region. This funding round also marks SoftBank Vision Fund’s first investment in legal technology, one of the fastest growing software-as-a-service categories.

Building on the strength of ContractPodAi’s end-to-end CLM solution, ContractPodAi’s no-code platform allows teams to manage any legal scenario, process, or document using the platform’s pre-built and configurable applications such as claims, RFP review, and IP portfolio management.

In addition, the platform … … weiterlesen

Onit Announced Acquisition of Management Software Provider BusyLamp

Onit, Inc., a provider of enterprise workflow and artificial intelligence platforms and solutions, including enterprise legal management, contract lifecycle management and business process automation, announced that it has acquired BusyLamp, a premier provider of legal spend and matter management software for European corporate legal departments.

The acquisition creates one of the largest global enterprise legal management conglomerates, with more than 600 implementations completed worldwide by Onit and its subsidiaries SimpleLegal and BusyLamp. It also augments Onit’s global reach into 140+ countries with European domain expertise and a solution well-equipped for unique considerations such as VAT, the General Data Protection Regulation (GDPR) and regional tax policies.

BusyLamp, headquartered in Frankfurt, Germany, has a broad customer base that includes many of Europe’s largest enterprises. The software company grew annual recurring revenues by more than 60% in the last 12 months, and Hyperion Research … … weiterlesen

Legal Software Provider Mitratech Acquires Risk Management Platform Alyne

Mitratech, a leading provider of legal and compliance software, announced the acquisition of digital governance, risk management and compliance platform provider Alyne.

Alyne leverages artificial intelligence to connect corporate legal and compliance functions, empowering professionals on both sides to assess, monitor, report, and act on all relative risks within the enterprise, including ESG management.

The combination of Alyne and Mitratech brings a game-changing solution to the legal, risk and compliance industry.  There’s increasing overlap between legal and compliance challenges, so there’s a real need for an intelligent platform that empowers cross-disciplinary integration and oversight,” said Mike Williams, CEO of Mitratech.  “Organizations now have the ability to harness AI to instantly reveal and quantify risk, collaborate, increase efficiency, and create unrivaled operational resilience.

With Alyne, Mitratech customers can now:

  • Accelerate time to value through actionable AI.
  • Mitigate risk in real time.
  • Obtain quantifiable risk impacts.
  • … weiterlesen

Legal Innovators Conference Student Discount + New Speaker Announcement

Students are the future, and so the upcoming Legal Innovators conference in London on October 21 and 22 will be offering a special discount to those in education. The event can also now announce several great new speakers from leading law firms and the inhouse world.

First, the students. Legal Innovators has more than halved the price of a special tranche of two-day tickets for anyone who is a law student, or a student with an interest in legal tech and innovation. But, hurry if you’d like one.

And there are also many more speakers to tell you about. This week the featured speakers are from leading law firms or working inhouse:

  • Rosemary Martin, Group General Counsel & Company Secretary, Vodafone
  • Charles Kerrigan, Partner, CMS
  • Emily Lew, Senior Knowledge … … weiterlesen

Legal Tech Firm Definely Secures $3M Funding by Microsoft and Others

Nigerian-led legal technology startup, Definely, has secured $3 million in a funding round led by Microsoft’s venture fund, M12, and supported by CRE Venture Capital.

This recent funding brings the startup’s total funding to $4.7 million following a seed round in September 2020.

The legal tech company said it will use the fresh capital to accelerate its product development, expand its team, and drive further expansion into markets beyond the United Kingdom.

Founded by Mr Nnamdi Emelifeonwu and Mr Feargus Macdaeid in 2017, Definely is a London-based legal tech that employs Artificial Intelligence (AI) to simplify the drafting, reading and understanding of contracts.

The startup takes away all the stress lawyers had to go through when sifting through endless pages of both soft and hard copies of legal documents to find and make sense of the major information they need.

It is no longer news that leveraging technology … … weiterlesen

Clio Acquires Lawyaw

Clio, a leading provider of cloud-based legal technology, announced its acquisition of Lawyaw, a San Francisco-based company developing innovative digital workflows for legal documents.

As part of the acquisition, Lawyaw’s team, along with Tucker Cottingham, CEO and Co-founder of Lawyaw, will join Clio to continue their work connecting and streamlining information gathering, automated document generation, and e-signatures for legal professionals.

With Clio’s focus on simplifying and automating tedious and critical tasks that take legal professionals away from client-centered legal experiences, the acquisition was a natural next step in the companies’ long-standing partnership.  

We have been so impressed with the Lawyaw team and their dedication and innovation to streamlining the creation of important court forms and legal documents,said Jack Newton, CEO and Founder of Clio. “Acquiring their business and bringing their team in-house better enables us to support further development against the critical work they are … … weiterlesen

BGH erklärt digitalen Dokumentengenerator für zulässig

Der Bundesgerichtshof (BGH) hat am 09.09.21 abschließend entschieden, dass smartlaw, ein softwarebasierter Generator für Rechtsdokumente, nicht gegen das Rechtsdienstleistungsgesetz (RDG) verstößt. Der BGH bestätigte damit das vorinstanzliche Urteil des Oberlandesgerichts (OLG) Köln (Az. 6 U 263/19) vom 19. Juni 2020.

smartlaw von Wolters Kluwer, Division Legal & Regulatory, ist ein digitaler Generator zur Erstellung von Verträgen und anderen Rechtsdokumenten, die Kunden im Rahmen eines Abonnements oder im Wege des Einzelkaufs erwerben können. Hierzu werden dem Kunden verschiedene Fragen gestellt, die er – überwiegend im Multiple-Choice-Verfahren – beantworten muss. Anhand der Antworten werden mithilfe einer Software aus einer Sammlung von Textbausteinen Vertragsklauseln generiert, die zu einem Vertragsentwurf zusammengestellt werden.

Die Klägerin sah in der digitalen Erstellung eines individuellen Vertragsdokuments eine wettbewerbswidrige Rechtsdienstleistung und nahm Wolters Kluwer auf Unterlassung in Anspruch.

Laut BGH sei die Erstellung eines Vertragsentwurfs mithilfe des digitalen Rechtsdokumentengenerators jedoch keine nach § 3a UWG unlautere Handlung, … … weiterlesen

Onit Acquires Bodhala

Onit, Inc., a provider of enterprise workflow and artificial intelligence platforms and solutions, including enterprise legal management, contract lifecycle management and business process automation, announced that it has acquired Bodhala, a provider of AI-powered legal spend analytics, benchmarking and market intelligence. 

Bodhala applies machine learning and AI to help companies source outside counsel at competitive and market-driven rates. With proven results for optimizing spend and the procurement of legal services, Bodhala complements Onit’s commitment to provide the most innovative AI offerings for Onit and SimpleLegal corporate legal customers.

A decade ago, Onit reinvented enterprise legal management by showing how workflow and process automation could drive useful and easily adopted best practices. Today, we occupy the forefront of business process automation, AI and legal business intelligence. Our vision for the next wave of business transformation has legal departments running their operations based on actionable data,” said Eric … … weiterlesen

Aumni Announced $50M Series B Funding

Aumni, an investment analytics platform that provides the data infrastructure for private capital markets, announced it has closed a $50 million Series B funding round led by J.P. Morgan. Pelion Venture Partners also participated in the funding alongside other new investors, WndrCo, Citadel Securities, Invesco Private Capital, Vanderbilt University and Kera Capital. The new investors join existing investors, SVB Financial Group, DLA Piper, Next Frontier Capital, Kickstart Fund, First Trust Capital Partners and Prelude, a Mercato Partners fund, who also participated in this Series B funding round.  

Aumni will use the funds to deepen its presence with investors in the private capital markets and expand its offering to limited partners, law firms and company founders. Since the launch of its flagship product in 2018, Aumni has analyzed more than 100,000 investment transactions. Aumni unlocks, structures and analyzes untapped data in private portfolios to track critical provisions such … … weiterlesen

European Commission: Coordinated Plan on AI Review 2021 and Regulation

Artificial intelligence (AI) will have an enormous impact on the way people live and work in the coming decades. The European Union (EU) is about to design this way and become a global hub in AI.

To achieve this goal in a competitive race European Commission has taken another major step forward. It published the 2021 review of the Coordinated Plan in April this year. In this review Europe puts forward a concrete set of joint actions on how to create EU global leadership on trustworthy AI.

The 2021 review is build on the strong collaboration between the Commission and Member States established during the 2018 Coordinated Plan.

Key Actions Proposed Within the New Strategy:

It is all about working together to remove fragmentation and bundle resources. Member states are strongly encouraged to work together on EU level.

The key actions pointed out are: Firstly set enabling conditions … … weiterlesen

Twenty In-House Legal Departments Join Reynen Court Consortium

Reynen Court Inc., the legal technology platform supported by a consortium of twenty of the largest international law firms, announced that twenty corporate law departments are now also collaborating with the fast-growing company.

Half of the participants are large, global financial institutions, including Barclays, BNP Paribas, Morgan Stanley and UBS.  The remainder of the group represent a cross section of the world’s most influential companies, including Cisco and Intel (and two other of the top twenty US technology companies measured by market capitalization) as well as leaders in telecommunications, travel, media, manufacturing and other important sectors.

The new group has come together as a separate consortium that will meet regularly with Reynen Court as well as from time to time jointly with Reynen Court’s law firm consortium.  The stated aim for the second collaboration body is identical to that of the initial group: to advance the development of standards designed to speed the legal industry’s adoption of Artificial Intelligence, Smart Contracts and other new technologies.

“We are driven by the opportunity to establish clear standards for the legal technology sector,” commented Reynen Court founder and CEO Andrew D. Klein“Since the legal services market is triangular – defined by law firms, legal departments and … … weiterlesen

Litera Acquires Concept

Litera, a global leader in legal technology solutions, announced it has acquired Concep, a provider of B2B relationship marketing technology for law firms, corporations, and professional and financial services.

Concep will become part of Litera’s new Firm Intelligence business unit – a platform that aims to transform disparate data about clients, matters, people, and parties into usable and actionable information.

This acquisition brings together the Concep marketing technology and integrated platform – email marketing, event management, and web automation – with the business insight and intelligence of the Litera platform to empower law firms to improve client services and deliver on growth.

“We continue to expand our offerings beyond the practice of law to include the business of law. This acquisition will provide our customers with the means to connect and engage with their clients in more meaningful ways using the power of their data to drive … … weiterlesen

Litera Announced Acquisition of Allegory Law

Litera announced the acquisition of Allegory Law, a subsidiary of Integreon, in a move that adds case management to its growing list of capabilities, and cements its position as the leading provider of legal workflow and workspace technology. 

Allegory is a modern, cloud-based litigation platform designed for complex, document-intensive litigation. It brings together all of the relevant information that a litigation team needs to prepare a case including litigation knowledge, case administration, evidence, witnesses, and case documents which are all managed and analyzed in context, in a single, collaborative platform. The software can be accessed from desktops, and various mobile devices and tablets.

Haley Altman, global director of business development and strategy at Litera, said, “Litera is increasingly becoming part of the DNA of a law firm, supporting all types of legal teams throughout their workflow, and in whatever environment they’re working in. Last year the … … weiterlesen

Legal Innovators Conference: New Speakers Announced!

Legal Innovators announced new speakers for their In-Person Conference! Get a sneak preview of the best and brightest in the legal tech community!

On the 21st and 22nd of October, Legal Innovators is returning to London for its second annual edition (at etc venues St. Paul’s, London), and this year’s event promises to be the most inspiring yet, with an innovation stage, exhibitor floor, and innovative programme.

About the event:

Leading figures from private practice law firms and corporate legal departments will attend the event. As part of the event, you’ll also be able to network and establish new partnerships with your colleagues (some job titles include General Counsels, General Partners, Partners, Associates, Legal Ops Professionals, Innovation Directors, and so on).

Latest speaker confirmations include:

  • Kerry Westland, Partner- Head of Innovation and Legal Technology, Addleshaw Goddard
  • Richard West, Head of Innovation Team, Kennedys
  • Maurus Schreyvogel, Chief Legal Innovation Officer, Novartis
  • … weiterlesen

Conga Acquires Contract Wrangler

Conga, a global leader in Commercial and Revenue Operations transformation, announced the acquisition of Contract Wrangler, a leader in applying AI and ML to understand the terms and obligations in contracts that impact revenue, risk and cost once the contract is executed.  

According to Conga, it has the industry’s most complete suite of revenue contract management capabilities spanning document creation, contract & lifecycle management and configure, price and quote capabilities that work to automate and manage complete Revenue Operations processes.

“With our acquisition of Contract Wrangler, we’re extending our leadership in helping companies manage their revenue contracts,“ said Conga CEO and Culture Leader Noel Goggin. “Together, we’ll empower companies to manage risk, compliance and obligations, while maximizing their revenue potential.“

“Contract Wrangler’s ability to help companies gain actionable insights from all their contracts is unparalleled and a perfect complement to the Conga commercial and … … weiterlesen

The Walk-the-Line Challenge of Bringing Traditional Law Firms and Legal Techs Together

by: Dr. Henny Lena Holzhauser 

Many legal firms have a very traditional company culture. Since legal consulting is a profession with long lasting traditions, having a culture that is shaped by a sense for responsibility is good. However, traditional thinking can become an issue when it hinders new solutions from breaking through.

There is a theory called path dependency. In the centre of the theory lies the assumption that decision makers stick to existing solutions because they have proven to be successful in the past. The reasons for why promising alternatives to current practices are ignored are manifold. Independent from the reasons for why decision makers stick to their known paths, they might miss out on new ways to grow and develop their business. The more they disregard alternative solutions that could complement the current ones, the more path dependent they can become (Pfeffer/Salancik (2003): The External Control of … … weiterlesen

Litera Agrees to Acquire Kira Systems

Litera, a global leader in legal technology solutions with more than 15,000 customers, announced that it has agreed to acquire Kira Systems (“Kira”), an industry leader in machine learning contract review and analysis software.

Founded in 2011 and based in Toronto, Canada, Kira is a leader in contract analysis software for law firms and has transformed the contract review process, helping lawyers to analyze more documents with greater efficiency and accuracy. Kira’s patented, award-winning machine learning technology, quickly extracts concepts and data points and comes with over 1200 built-in provision models.

As part of the acquisition, Insight Partners, an investor in Kira Systems since August 2018, will further its investment in Kira, becoming a minority investor in Litera. Hg, a global software and services investor will remain the majority investor in Litera. Hg first invested in Litera in 2019. Since then, Litera has … … weiterlesen

Linklaters Launched Automated Verification Platform

Linklaters is rolling out Atticus, a web-based platform that streamlines the verification of public-facing documents across its London and Hong Kong offices.

Historically, identifying and verifying statements has been a time-consuming and laborious process. Atticus automates the verification process by creating a workflow where users can easily validate them, reducing inefficiencies and ensuring high levels of accuracy. The platform allows users to upload supporting documents to verify each statement and the generation of verification reports. In addition, Atticus gives all relevant parties on a transaction access to the platform, enabling full real-time collaboration for all those involved.

Extensive user testing took place with the firm’s Practice Innovation & Efficiency teams and other lawyers in London and Hong Kong, led by the firm’s specialist Innovation Lawyers Greg Baker and Hannah Atkinson.

It is the first major project delivered by Linklaters’ Emerging LegalTech team (which forms part of the Innovation … … weiterlesen

Canada and U.S. Launch Regulatory Sandboxes to Improve Access to Justice

Two of Canada’s largest provinces are testing new ways to deliver legal services, joining a growing push in the U.S. to experiment with approaches such as letting non-lawyers own law firms, Bloomberg Law reported.

According to Bloomberg, Ontario and British Columbia are following the template of Utah, which collects data on operations including Rocket Lawyer, which helps people draft wills, leases, and other documents through an online platform. Utah’s test also includes companies that assist with medical debt and offer AI-enabled contract drafting tools.

Canada’s move adds momentum to the notion that a broader range of legal service delivery models will address an access-to-justice crisis in both countries and hasten the development of legal technology as a tool in helping bridge the gap, Bloomberg Law stated.

The British Columbia program includes a half-dozen paralegals with enhanced authority to provide a range of legal services. One, for … … weiterlesen

Legal Innovators in-Person Conference Will Be Held in October in London

The Legal Innovators Conference will take place over two days, as an in-person event on the 21st and 22nd of October 2021 at etc venues St Paul’s, London (200 Aldersgate St., London EC1A 4HD).

The first day will focus on law firms and legal services businesses, and how they are driving innovation.

The second day will focus on innovation among in-house legal teams and legal operations professionals. It will also explore the clients’ evolving relationship with a growing range of legal service providers.

A ticket will give you access to both days.

It’s a conference for everyone interested in technology, innovation and the business of law – created by Artificial Lawyer and organised by Cosmonauts.

It’s for everyone who wants to learn about this increasingly important subject area that is steadily reshaping the legal market. Whether you are a Managing Partner of a law firm, a General Counsel … … weiterlesen

LinkSquares Announces $40 Million in Series B Funding

LinkSquares, a contract management and analytics tool for legal and finance teams, announced that it raised $40 million in a series B funding round led by Sorenson Capital. The company, whose total funding stands at $61.4 million, says it’ll use the financing to expand its workforce, advance its technology, and develop strategic business partnerships.

During the pandemic, legal departments and contract negotiators faced a critical period of transformation. Legal was expected to contribute data-driven analyses while contending with the gap between executed contract analytical platforms and legal request business process flows. More than half of the world’s major companies face lost revenue and missed business opportunities as a result of inefficiencies in their handling of contracting processes, according to an EY Law survey.

Just this past year, legal and compliance teams raced to analyze their business exposure to major events across PDFs, paper contracts, and … … weiterlesen

Taylor Wessing Launched LitiGate’s AI-driven Litigation Platform

Law firm Taylor Wessing has moved from a test phase of the AI-driven litigation platform LitiGate on a select number of cases, to a rollout across the wider community of contentious practices involving its application to many of the most significant pieces of litigation or arbitration.

Taylor Wessing chooses LitiGate as its go-to litigation lifecycle platform to support clients with contentious matters, following the firm’s work with the platform’s developers during the testing phase.

The firm supported LitiGate’s ground-breaking machine learning developments from its early conception in 2018 and was one of only three global law firms to establish an initial relationship, taking an active role in shaping and leading the next generation of litigation solutions.

With expertise in the technology sector and its renowned reputation for innovation through technology solutions, the firm’s adoption of LitiGate will enable the transformation of extensive … … weiterlesen

A Report on the Bucerius Legal Tech Essentials 2021

Episode Two of the Bucerius Legal Tech Essentials has just ended.

The program´s core remained the same: a free online educational experience with about 2000 participants from 99+ countries who came together in 16 online sessions; organised by the ´Center for Legal Technology and Data Science´ of Bucerius Law School and the Chicago-Kent College of Law (Illinois Institute of Technology).

From the beginning of May until mid June, the international participants were able to enjoy classes four times a week and additional material via Dropbox. Offering an interactive and colorful mix of lecturers, the program varied across different Legal Tech topics.

Participants could attend 60 to 90-minute presentations and gain insights from leading Legal Tech experts and then ask specific questions via Q&A and finally discuss further with the speakers via Twitter and LinkedIn. This year it was even possible to acquire an attendance record.

… weiterlesen

Wilson Sonsini Unveiled its New Process Automation Platform Neuron

As part of its continued commitment to the global start-up ecosystem, technology law firm Wilson Sonsini unveiled Neuron, the latest step in the firm’s mission to disrupt the legal industry. Neuron, the digital home for a start-up’s legal needs, is a next-generation proprietary software platform that streamlines, automates, and digitizes the typical legal processes along a start-up’s journey – from formation to exit.

Dedicated modules will include incorporation, capitalization management, corporate maintenance, and financings. Neuron completes routine legal processes in a fraction of the time that traditional manual methods require. With Neuron, Wilson Sonsini’s Emerging Companies Practice (ECP) provides start-ups a single-view digital home to access and manage their legal information and documentation at any time. Start-ups can also collaborate directly with their ECP legal team on one integrated platform.

Neuron is our next paradigm leap in transforming the legal industry. Having advised hundreds of thousands of start-ups, … … weiterlesen

Letzte Hürde genommen – Das “Legal Tech-Gesetz” kommt!

Heute, am 25. Juni 2021, passierte das mit Spannung erwartete Gesetz zur Förderung verbrauchergerechter Angebote im Rechtsdienstleistungsmarkt, auch „Legal Tech-Gesetz“ genannt, erfolgreich den Bundesrat und wird wohl am 01. Oktober dieses Jahres in Kraft treten. Unumstritten ist das Gesetz, das der Anpassung des Rechtsdienstleistungsrechts aufgrund der technologiegetriebenen Entwicklungen im Rechtsmarkt dient, nicht. Während manche Jurist*innen die Lauterkeit des etablierten Rechtsdienstleistungsmarktes gefährdet sehen und eine Kommerzialisierung des Rechts befürchten, begrüßen andere Expert*innen – wie der von uns zu diesem Thema befragte Legal Tech-Unternehmer Dr. Benedikt M. Quarch – den gesetzgeberischen Vorstoß, bemängeln jedoch zugleich, dass das neue Gesetz zu kurz greife.

Warum das Gesetz entstand

Auslöser des neuen Gesetzes war das Urteil des Bundesgerichtshofs zum Legal Tech-Anbieter wenigermiete.de aus dem Jahr 2019. Der BGH hatte dem Anbieter erlaubt, bei Vereinbarung eines Erfolgshonorars und ohne Kostenrisiko für die Kundschaft durch Finanzierung der Verfahrenskosten, Ansprüche aus der Mietpreisbremse als Inkassodienstleister geltend zu … … weiterlesen

AI-Powered Contract Management System Lexion announced $11M Series A Funding

Lexion, an AI-powered contract management system, announced a $11 million Series A round led by Khosla Ventures, with participation from existing investors Madrona Venture Group and Wilson Sonsini, bringing the total invested to $15.2 million. Kanu Gulati from Khosla Ventures will join Lexion’s board. The Seattle based company plans to use these funds to scale go-to-market functions, drive further AI and product innovation, and grow the team, with a mission to offer a simple contract lifecycle management system (CLMs) that just works.

Many CLMs on the market are complex, require an extensive amount of time and resources to implement, and a significant amount of change management to derive meaningful value. Lexion offers the opposite by delivering an intuitive system supported by a cutting-edge, AI-powered backend, that is simple enough for entire organizations to adopt, and takes just days to implement.

In-house lawyers spend far … … weiterlesen

Baker McKenzie Scales Up AI Transformation

Global law firm Baker McKenzie continues its investment in bringing advanced machine learning to the legal sector, powered by SparkBeyond. The Firm is now establishing a dedicated team to combine legal domain expertise, data, data science and machine learning, following Baker McKenzie‘s successful pilot of SparkBeyond‘s transformational technology.

The pilot exceeded all its key performance indicators, demonstrating the potential for this partnership to solve many of the problems that have so far prevented true disruption of legal services and the legal business by machine learning and artificial intelligence, as well as in social impact activities, which are at the core of Baker McKenzie’s mission.

The team will collaborate with SparkBeyond on a series of projects under the leadership of Research and Development Partner, Ben Allgrove. The exclusive deal, which is part of Baker McKenzie‘s innovation program, Reinvent, ensures it is the only … … weiterlesen

Webinar: Just punishment thanks to Smart Sentencing?

On 06/29/2021 from 17:30 to 19:00 CEST, the webinar “Just punishment thanks to Smart Sentencing?” will be held online, hosted by the Legal Tech Lab Cologne (LTLC).

Digital justice – how does it work? 
Smart Sentencing = Just Punishment?

Judges have a great deal of leeway when it comes to sentencing. In some cases, there are significant regional differences. Is it fair if the punishment depends on where sentencing takes place?

Members of the Legal Tech Lab have already asked themselves this question in 2019 and founded the Smart Sentencing Task Force. Their  Smart Sentencing Tool aims to show judges comparable cases to create transparency and justice. After building a prototype, the project will be continued by the chair of Prof. Dr. Dr. Rostalski and the Fraunhofer Institute.

But what can the tool do, how feasible is its use, how should it change the work of judges … … weiterlesen

Thomson Reuters Launched AI-Powered HighQ Contract Analysis Tool

Thomson Reuters launched HighQ Contract Analysis, a contract review and analysis tool that uses machine learning to answer the specific questions legal professionals want to address – in an easy-to-read report.

Contract review is a critical, yet time-consuming part of transaction or contract management. HighQ Contract Analysis uses machine learning and pre-trained models to help attorneys increase efficiency, reduce risk, and accelerate the contract-review process for transaction due diligence, compliance review and contract investigation. Integrating seamlessly with HighQ, the company’s foundational asset in the collaboration and workflow automation market, it extends customers’ transaction workflow with more insights and greater automation.

AI-powered applications require three key ingredients – data, subject matter expertise and technology – and HighQ Contract Analysis builds upon Thomson Reuters decades-long leadership in AI-driven products for legal professionals,” said Andy Martens, head of Research Products at Thomson Reuters. “HighQ Contract Analysis begins with the deep knowledge … … weiterlesen

DocuSign Announces Acquisition of Clause to Develop Smart Agreements

Electronic signature provider DocuSign announced to acquire the IP rights and hire the team from smart agreement pioneer Clause. By working together, both companies want to create synergies to develop smart agreements.

Clause sees the opportunity to deliver smart agreements to the world, leveraging eSignature and contract lifecycle management products, as part of one of the largest tech companies.

Smart agreements are not static digital documents but living documents which include functionality that adds value throughout the agreement process. They incorporate computer code and smart clauses that effectively bring agreements to life—connecting different computer systems together, enabling actions to be taken automatically, and helping business to get done faster, more cost-efficiently, and with lower risk.

Clause started with the vision that contractual agreements should be computable records, not simply PDFs. They should be able to pass data to, and receive data from, external sources such as critical … … weiterlesen

Client Portals: New Way of Communication?

The requirements of law firms are changing in the context of digitalization. This has been accelerated by COVID. The change has various facets.

One important facet – especially for law firms and lawyers – is communication with the client.

Traditional communication has been, and in some cases still is, by email. This not only poses security risks, but is also not very efficient for both sides.

Over time, there are more and more alternative communication channels on the market. One in particular stands out:

The Client Portal.

Client Portals offer a whole range of advantages.

Using a cloud-based client portal option as a practice tool gives lawyers and law firms more flexibility when working from home, on the road, or even in the courtroom. From intake to billing, including storage of all client communications and documents. Without the need for additional technology skills.

One of the most important advantages is … … weiterlesen

Luminance Launches AI Tool Designed to Transform In-House Contract Management

Luminance has launched a new AI-powered platform, Luminance Corporate, which aims to transform the way in-house lawyers understand, manage and negotiate their contracts. The tool will also automate a range of tasks to streamline the contract lifecycle process, from contract mark-up to drafting, version control and contract renewal.

With in-house teams around the world grappling with growing numbers of contracts stored across multiple repositories and increased pressure to comply with complex regulation, Luminance’s new Corporate product will allow in-house counsel to save time and resource, streamline legal processes and gain greater insight into their contractual landscape. Instead of manually sifting through contracts in order to identify and collate key information, Luminance’s AI-powered technology will give in-house teams immediate insight into their contracts, highlighting key features such as clauses, parties and Governing Law.

In-house lawyers will be able to tap into Luminance’s machine learning for contract analysis from within Microsoft … … weiterlesen

Online Event: Remote Courts – The European Perspective

Athens Legal Tech, in collaboration with the European Legal Tech Association (ELTA), will host an open discussion on Remote Courts and the legal and technical implications of developing and using such systems in practice on 27 May 2021, starting at 18:00 CET. The event will take place online. 

A panel of distinguished academics, professionals, lawyers and judges will present a comprehensive overview of the developments in their respective countries and discuss further the European experience on the subject.

Holger Zscheyge, President of ELTA, Managing Director of Infotropic Media: “The path to online proceedings: How Russia managed to switch their commercial courts to virtual hearings within weeks”

Markus Hartung, lawyer and mediator, founder of the Bucerius Center on the Legal Profession (CLP) at Bucerius Law School, Hamburg, and Co-Founder of ELTA: “The German Courts on the way to Digitalisation”

Nicolino Gentile, partner at BLB Studio Legale, ambassador of … … weiterlesen

From Services to Products – Impressions of the BRYTER Legal Strategy Symposium

On 29 April 2021, the BRYTER Legal Strategy Symposium took place online. The topic of the symposium was “From Services to Products”. Moderated by Mark A. Cohen (CEO and Founder, Legalmosaic), the participants Michael Grupp (CEO and Founder, BRYTER), Dan Reed (CEO, UnitedLex) and Bill Deckelman (Executive VP and GC, DXC Technology) discussed the challenges and opportunities in turning legal services into digital products, and the strategies to consider. The participants especially took the so-called digital transformation of the legal industry and the changing demands on and ideas of modern legal service into account.

The observations and prognostications made in the symposium’s discussion can be summarized as follows:

While digitization has been advancing for a long time and has revolutionized many business sectors, the legal industry is just starting to experience the beginning of a digital transformation. Legal-tech companies not only want to change the legal industry at the edges … … weiterlesen

Verbraucherrecht 2021 – wie groß ist der Markt und wer verdient wie viel?

von Marco Klock

Seit Jahren treibt mich nun die Frage umher, wie groß der Rechtsmarkt im Verbrauchersegment (B2C) wirklich ist und welche Player in diesem Segment die wirklichen Champions sind. Bei der Beantwortung der Frage möchte ich nicht zwischen Legal Tech oder Kanzlei differenzieren, sondern beide aus Sicht des Verbrauchers als Rechtsdienstleister betrachten – so wie es marktgerecht erscheint.

Eine Annäherung an konkrete Zahlen treibe ich zumindest beiläufig seit Jahren voran. Im Grunde versuche ich in jedem Gespräch verschiedene Marktzahlen zu validieren, um diese dann in ein Gesamtbild einzufügen. Aus vielen einzelnen Daten, die ungleich verteilt sind, lässt sich trotzdem kein hinreichend plausibles Bild eines Milliardenmarktes zeichnen.

Und obwohl ich schon in vielen Legal Tech Pitchdecks einen total addressable market (TAM) jenseits der 20 Mrd. EUR gesehen habe, gab es auf die Frage, woher diese Daten stammen nie eine befriedigende Antwort. Es drängt sich die Vermutung auf, dass … … weiterlesen

Eversheds Sutherland Launches AI and Legal Data Analytics Tool

Eversheds Sutherland announced the launch of a proprietary tool to help clients better assess the risk of an adverse ruling on spoliation of evidence in any US court. Developed in partnership with Fastcase, Spoliation Scientist is a first-of-its-kind legal data analytics tool that harnesses the power of artificial intelligence, text analytics, and interactive data visualizations to quickly and efficiently assess spoliation risk in any of the nation’s state and federal courts.

At the click of a button, the tool allows clients operating in multiple jurisdictions to quickly identify areas of risk, direct focus and better budget and forecast for specific discovery-related expenses. Spoliation Scientist uses a combination of Fastcase’s legal research data, professional review of automated data tagging by the Fastcase AI Sandbox technology, and content expertise to establish a visual database of cases where a judge ruled on a claim of spoliation and the … … weiterlesen

Luther & Fidal Announced the Formation of a Joint Global Organization

Law firms Luther and FIDAL announced the formation of unyer, a new global organization. Fidal and Luther plan to expand their international reach by establishing a new organization of leading international professional services firms under the unyer brand name. Luther and Fidal, each leading independent law firms in Germany and France, respectively, are joining forces as founding partners. unyer will have a global reach, one exclusive member per country, and offer more than just legal advice.

With a global platform, a common culture and an overarching full-service offering, unyer will meet the expectations of new members who remain independent in their areas of law, while being globally connected and able to operate through unyer. With its foundation, the organization has a turnover of more than EUR 500 million annually and consists of more than 2,000 lawyers and professionals in more than 10 countries in Europe and Asia. … … weiterlesen

Legal Geek North America Conference: June 22nd 2021

The Legal Geek North America Conference will start on June 22nd 2021. 2,000 free tickets are being released for this event. You can register here to get one of the remaining tickets. The event will take place online from 9am-2pm EST or 2-7pm BST.

The conference will consist of some short themed 10 min talks, 20 min skill-based interactive workshops and interviews with industry leaders. Moreover, Health Geek, a dedicated resource hub for mental health, will be launched with a kick-off session at Legal Geek North America.

The bitesize-talk speakers will be Susan Hacket, CEO of Legal Executive Leadership, Melissa Miller, Senior Manager at EY Law, Rob Chesnut, former General Counsel and Chief Ethics Officer of Airbnb, Dan Katz, VP Data Science & Innovation of Elevate, Lord David Wolfson of Tredegar QC, Parliamentary Under Secretary of State, Malcom Glenn, Director of Public Affairs at Better.com, and Stephanie Corey, … … weiterlesen

Tomorrow: LEGALTECH Innovation Conference

Join the LEGALTECH Innovation Conference 2021 on 13 May 2021 for the latest insights in legal technology, and find out first-hand how tech trends will impact legal practices and financial services. The event will start at 9:45 AM CEST. You can register here.

The one-day virtual conference, powered by FINTECH Circle, will bring together tech founders, lawyers, investors, and thought-leaders, sharing their visions on the nature of legal technologies.

The LEGALTECH Innovation Conference follows the launch of The LEGALTECH Book and will feature many of the Book’s expert authors as speakers and guests. The LEGALTECH Book, published by Wiley in 2020, is the first crowdsourced book on legal technologies and innovations focused on the financial services sector.

Tomorrow’s schedule:

10:00 AM – 10:45 AM: Opening remarks & keynote address | Law Society’s future approach to lawtech

10:45 AM – 11:45 AM: Panel | Transforming the practice … … weiterlesen

Reed Smith LLP Announces Partnership With BRYTER

Global law firm Reed Smith has announced its partnership with BRYTER, the leading no-code service automation platform, further enhancing the firm’s capabilities for delivering automated legal processes to their clients.

Reed Smith began working with BRYTER in 2020 to pilot an initial range of services which has successfully led to the creation of new digital solutions for clients that are now being extended throughout the firm and will be integrated with its client collaboration portal.

In addition to benefitting the firm’s clients, the platform will enhance the Legal Technology Summer Associate Program – an innovative placement that combines the traditional summer legal experience with a technology focus. This program sees summer associates work with Reed Smith lawyers and the firm’s innovation team to develop creative and innovative, technology-driven solutions – further equipping lawyers with the skills they need for the legal practice of tomorrow.

… weiterlesen

10 Most Promising Legal Tech Startups

Legal Tech is more popular and present than ever. The market for Legal Tech Startups is booming and has attracted a lot of interest from investors. We want to bring 10 promising startups to you (in alphabetical order).

1. Brightflag

Brightflag enables organisations to take control of their legal spend with AI-powered software that’s easy to use and backed by proactive customer support. Brightflag processes billions of dollars of legal spend annually on behalf of its customers, resulting in hundreds of millions of dollars in savings and tens of thousands of hours in avoided administrative work. Founded in 2014, Brightflag serves a global community of in-house legal teams and their vendors from its offices in Dublin, New York, and Sydney.

2. Bryter

Bryter is the leading no-code service automation platform that helps business experts in departments like accounting, legal, compliance and marketing who do not … … weiterlesen

Clio Secures $110M Series E Funding – New Valuation of $1.6B

Canadian cloud-based legal-tech company Clio announced a new valuation of US$1.6B after raising US$110M in its Series E funding. The funding round was led by funds and accounts advised by T. Rowe Price Associates, Inc. and also included OMERS Growth Equity. This investment signals a historic moment in the growth of legal technology, with Clio becoming the first legal practice management unicorn globally.

Jack Newton, CEO and Founder of Clio: “This investment is indicative of the explosive demand for legal technology that empowers lawyers to be cloud-based and client-centered. The support from T. Rowe Price funds and accounts and OMERS Growth Equity will enable us to continue to create a more equitable and accessible legal system by making it easier for clients and law firms to work together through cloud-based technologies.”

Clio will use the funding to further invest in its platform, strategic acquisitions, and … … weiterlesen

Rocket Lawyer Announces $223 Million Growth Investment

Rocket Lawyer announced a major growth capital financing of $223 million, led by Vista Credit Partners, a strategic credit investor. Rocket Lawyer and Vista will collaborate to scale the Rocket Legal Cloud platform to meet the strong demand for the company’s digital tools of justice.

Founded in 2008, based on patented technology, Rocket Lawyer provides enterprises, small and medium-sized businesses, and millions of individuals  with digital legal documents, digital signatures, attorney advice from anywhere, online incorporations and more. The company innovates, invents and delivers modern, scalable cloud-based solutions.

“Nearly every day, examples of injustice make headlines. And for every headline-grabbing incident, there are countless others,” said Charley Moore, CEO and founder of Rocket Lawyer. “Vista Credit Partners shares our commitment to bring justice within reach of everyone with a connected device.” 

David Flannery, President of Vista Credit Partners: … … weiterlesen

PwC and Microsoft Collaborate to Promote Legaltech Solutions for Spanish Market

PwC Tax & Legal, supported by Microsoft, created the Tax & Legal Tech Springboard with the aim of promoting legal-tech and tax-tech solutions in the Spanish market. The Springboard is a startup acceleration program that offers business, technical, commercial, and financial mentoring as well as access to training resources, clients, and investors to selected startups.

International tax- and legal-tech startups at an advanced stage of the development of their tax- or legal-tech solution, which need to validate the integration and adaption of their product or service to the Spanish market as well as startups that do not yet offer tax- and legal-tech solutions but have a working technological solution that is not yet adapted to the Spanish or international legal or tax sector, with which to establish at least one use case and co-create, together with PwC, supported by Microsoft, a … … weiterlesen

ILTACON 2021 In-Person Registration Now Open

The International Legal Technology Association (ILTA) has announced the opening of member registration for ILTACON 2021. The digital registration will open on May 4.

ILTA’s annual conference, ILTACON, is scheduled to take place in Las Vegas, Nevada, USA from August 22 to August 26, 2021. This year’s conference will be a hybrid event, combining live, in-person programming and an in-person exhibit hall with live-streamed educational content and sessions. 

Information for member registration will be sent via direct email to all ILTA members. Further information on additional types of ILTACON 2021 registrations will be forthcoming and more details, including program announcements, will be available on the ILTACON 2021 website soon.

ILTACON is a conference with comprehensive peer-driven programs, educational content, and networking. Industry experts and the legal community collaborate to discover and evolve successful legal operation strategies for today’s transforming … … weiterlesen

Thirdfort Secures ₤1.5m in its Latest Fund Raising

British legal-tech startup Thirdfort has secured ₤1.5m in its latest fund raising, as the Anti-Money-Laundering and Know Your Client specialist looks to ramp up product development and support its continued expansion in the legal and property markets.

The funding round was raised solely from existing investors, with the funds doubled via a convertible loan from the British Government, as part of its Future Fund programme. This latest round brings the company’s total funds raised to ₤4.2 million and will support product development and innovation.

Thirdfort is a web and mobile app that combines Open Banking, document scanning and facial recognition technology, to streamline identity and source of funds checks carried out during legal and property transactions. Thirdfort lets lawyers and property professionals onboard their clients quickly, securely and entirely remotely. Thirdfort’s tech is now used to remotely ‘onboard’ over 30,000 clients each month on behalf of … … weiterlesen

CodeX FutureLaw 2021 took place virtually

On April 8, the FutureLaw 2021 conference was held online. FutureLaw 2021 was the ninth annual conference hosted by CodeX – The Stanford Center for Legal Informatics focusing on the way technology is changing the legal profession and the law itself, and the way these changes affect us all.

Typically held on the Stanford campus, CodeX FutureLaw brings together the academics, entrepreneurs, lawyers, investors, policy makers, and engineers spearheading the tech-driven transformation of our legal system.
Due to the ongoing health emergency, the conference was held virtually again this year. To extend the experience to as many as possible, admission was free. 

The program was kicked off with an opening keynote by computer scientist and Turing Award winner Alan Kay. His keynote discussion focused on natural human storytelling and its important impact on the development of human-centered design for computer frameworks. 

“You make progress by creating … … weiterlesen

Decision Automation Company BRYTER announces $66 million Series B funding round

Decision automation company BRYTER has announced a $66 million Series B funding round. The fundraise comes only 8 months after their Series A round, bringing the total capital raised to date to over $90 million.

The investment round was led by New York based investment firm Tiger Global, with participation from existing investors Accel, Dawn Capital, Notion Capital and Cavalry Ventures. The capital will be used to accelerate the international expansion, particularly in the US, where BRYTER sees rapid adoption since opening a New York office last year.

BRYTER also announces that a group of leading enterprise software executives and entrepreneurs have joined the round in recognizing the rapid growth and future potential, including Amit Agharwal, CPO of DataDog, Lars Björk, former CEO of Qlik, Ulf Zetterberg, founder and CEO of Seal Software and former ServiceNow Global SVP, James Fitzgerald. They will act as consultants and assist in … … weiterlesen

Neue Medienpartnerschaft zwischen dem Legal Tech Verband Deutschland e.V. und der MMR Zeitschrift für IT-Recht und Recht der Digitalisierung

Die Zeitschrift MMR „Zeitschrift für IT-Recht und Recht und Digitalisierung“ aus dem C.H.BECK oHG Verlag und der Legal Tech Verband Deutschland e.V. haben eine Medienpartnerschaft bekanntgegeben.

Dazu äußerte sich MMR-Chefredakteurin Anke Zimmer-Helfrich: „Ich freue mich, mit dem Legal Tech Verband Deutschland e.V. einen starken Partner für das Thema in der MMR zu haben, um gemeinsam die anstehenden Herausforderungen der Digitalisierung von Kanzleien, Justiz und Verwaltung kompetent aufbereitet zu begleiten und intensiv zu diskutieren.“

Die Zeitschrift MMR ist eine interdisziplinäre Zeitschrift im Recht der neuen und innovativen Medien. Seit mehr als 20 Jahren bildet die MMR eine Schnittstelle zwischen „Recht – IT- KI – Digitalisierung – Medien – TK“. Dies zeigt sich besonders in den Aufsätzen und den zahlreichen Entscheidungsanmerkungen zu Legal Tech, Smart Contracts, IT- und Softwarerecht, Big-Data- und Cloud-Anwendungen, Cybersecurity, Online-Plattformen und -Handel, Datenschutz u.v.m. 

Der Beitrag Neue Medienpartnerschaft zwischen dem … … weiterlesen

BRYTER partners with Cognia Law to provide digital legal services

BRYTER, the leading no-code service automation platform, announces its new partnership with Cognia Law, the law company providing advisory, managed legal services and flexible resourcing to corporate legal departments and law firms globally.

Janet Taylor-Hall, CEO at Cognia Law says, “At Cognia Law, we partner with best-in-class technology companies to create integrated solutions that can be delivered efficiently and seamlessly to our clients. BRYTER provides us with the critical decision layer in our tech stack, enabling us to work with clients to integrate their existing tech with our Cognia platforms. Working with BRYTER, we are developing a one-stop shop of digital legal services as part of our portfolio offering to our global client base. Our partnership with BRYTER is a core part of our strategy to support our clients’ complex and varied requirements through the rapid deployment of human led technology-solutions.”

Sam Spivack, Managing Director of BRYTER (UK), … … weiterlesen

recode.law studentischer Partner des Legal Tech Verbandes Deutschland

Das Non-Profit “recode.law” wird offizieller studentischer Partner des Legal Tech Verband Deutschland. Durch die Zusammenarbeit erhoffen sich die Mitglieder des Vereins einen besseren Einblick in die politische Arbeit des Verbands. Gleichzeitig wird es durch die Zusammenarbeit einfacher werden, auch eigene politische Forderungen – z.B. im Hinblick auf die Reform der Juristenausbildung – an die Politik heranzutragen und sich Gehör zu verschaffen.

Konkret sind zwischen dem Legal Tech Verband Deutschland und recode.law einzelne gemeinsame Veranstaltungen geplant, die noch detaillierter angekündigt werden. Der Legal Tech Verband Deutschland vertritt zahlreiche Akteure auf dem deutschen Rechtsmarkt, die sich in Politik und Gesellschaft für eine Liberalisierung des Rechtsmarktes einsetzen wollen (Inkassodienstleister, Kanzleien, Vertragsgeneratoren, Rechtsschutzversicherer, Softwareunternehmen, Vermittlungsplattformen etc.). Der Verband setzt sich dabei für einen innovationsfreundlichen Rechtsrahmen, Rechtssicherheit und die Erleichterung von Investitionen in Legal Tech ein und treibt die Debatte über die Zukunftsthemen des Rechtsmarktes.

Der Beitrag recode.law studentischer … … weiterlesen

VINQO erhält sechsstelliges Investment

Die Betreiberin der Verbraucherplattform VINQO.DE, die Wuppertaler Legal Data Technology GmbH, hat die aktuelle Finanzierungsrunde mit einem sechsstelligen Investment erfolgreich beenden können. Neben einer Aufstockung der Anteile durch die Gesellschafter wird der Gesellschafterkreis durch einen der führenden Verbraucheranwälte Deutschlands bereichert.

“Ich freue mich sehr, dass wir das Vertrauen der bestehenden Gesellschafter in unsere Vision weiter bekräftigen und gleichzeitig einen hochkarätigen Neugesellschafter gewinnen konnten, der genau wie wir für den Verbraucherschutz lebt!”, zeigt sich Tim Platner, Mitgründer & Geschäftsführer der Legal Data Technology GmbH, zufrieden mit dem Abschluss.

Auf VINQO.DE können Geschädigte einen Schadensfall einfach online melden und so Schadenersatz und Schmerzensgeld ohne Kostenrisiko durchsetzen lassen (siehe auch unser Startup-Interview). Hierfür hat das Wuppertaler Legal Tech Unternehmen eine eigene Software entwickelt, mit der die Durchsetzung der Ansprüche nach einem Verkehrsunfall, Motorradunfall, Fahrradunfall oder Hundebiss beschleunigt, erleichtert und so grundlegend verbessert wird.

Mit dem bereits vor einigen Monaten … … weiterlesen

RightNow erhält 8,5 Mio. € in Series-A-Finanzierungsrunde

Das Düsseldorfer Legal-Tech-Unternehmen RightNow hat eine Series-A-Finanzierungsrunde erfolgreich abgeschlossen: Der Technologie-und FinTech-Investor VR Ventures und das Family Office des Schwarzwälder Boten sind neue Gesellschafter. Zusätzlich konnten im Rahmen der Series A weitere Mittel über eine Anleihe platziert werden; auch an der Anleiheemission hat sich ein VR Ventures Investor beteiligt. Mit dem frischen Kapital will RightNow das weitere Wachstum finanzieren, bestehende Produkte ausbauen und neue Märkte erschließen.

Das Legal-Tech-Unternehmen, das Verbraucher*innen aus Situationen des täglichen Lebens entstandene Rechtsansprüche abkauft, hat ungeachtet der Corona-Pandemie eine erfolgreiche Series-A-Finanzierungsrunde in Millionenhöhe abgeschlossen. Neu eingestiegen ist der Wagniskapitalgeber VR Ventures, ein Fonds mit zahlreichen Investoren aus der Volksbanken FinanzGruppe. VR Venturesbeteiligte sich Anfang des Jahres bereits am FinTech Penta. Ebenfalls investiert das Family Office des Schwarzwälder Boten, welches von Redstone hierbei beraten wurde.

Die drei Gründer Phillip … … weiterlesen

rfrnz stellt Geschäftsbetrieb ein

Von Mischa Peters — Das Legal-Tech-Startup rfrnz (hier vorgestellt in unserem Startup-Interview) hat zum Ende des vorigen Jahres den Geschäftsbetrieb eingestellt. Man habe leider nicht die notwendigen Folgeinvestitionen abschließen können, bestätigte Dr. Sven von Alemann (CEO) jetzt das Aus. Zudem sei ein strategischer Übernahmevertrag mit einem Acquirer überraschend in letzter Minute nicht zustande gekommen.

rfrnz hatte eine Contract Intelligence Platform entwickelt und auf den Markt gebracht. Mit deren Hilfe wurden Kunden dabei unterstützt, relevante Informationen aus Verträgen zu extrahieren und Arbeitsabläufe im Vertragsmanagement zu verbessern. Im Frühjahr 2019 hatte das Unternehmen ein siebenstelliges Investment für die Vertragsanalyse erhalten (wir berichteten). Der High-Tech Gründerfonds (HTGF), die UnternehmerTUM Inititative for Industrial Innovators und zwei weitere Investoren hatten sich in diesem Umfang beim Münchner Startup engagiert. Die notwendigen Folgeinvestitionen konnten nun nicht abgeschlossen werden.

Dr. Sven von Alemann musste das Ende … … weiterlesen

Legal Tech und Schadenregulierung – mit Daten und Metadaten aufholen (Teil 2)

Von Tim Platner — Unser Autor hat in dem ersten Teil seines spannenden Gastbeitrags im Legal Tech Blog dargestellt, vor welchen Herausforderungen ein Geschädigter und sein Anwalt im Bereich der Schadenregulierung stehen, wie die Schädigerseite die Schadenbearbeitung datenbasiert aussteuern kann und wie hieraus ein strukturelles Ungleichgewicht resultiert. Als Jurist und Geschäftsführer der Legal Data Technology GmbH (VINQO.DE – Legal-Tech-Plattform für Schadensfälle) verfügt Platner über fundiertes Expertenwissen direkt aus der Praxis.

Ein Zwischenfazit des ersten Teils war, dass Bearbeitungsprozesse in der Kanzlei oder beim Legal-Tech-Anbieter erst einmal strukturiert und dann so weit wie möglich von vermeidbaren Prozessschritten bereinigt werden sollten, um so der Prozessgerechtigkeit durch Beschleunigung stärker dienen zu können. Diese wohl eher kreativlosen, aber dennoch unverzichtbaren Schritte sind im ersten Teil stärker beleuchtet worden, sodass wir uns nun dem zweiten wichtigen und eher abstrakteren Aspekt widmen – der Nutzung von Daten … … weiterlesen

Bundesregierung beschließt veränderte Rahmenbedingungen für Legal Tech

Die Bundesregierung hat am 21.1.2021 den vom BMJV vorgelegten Entwurf eines Gesetzes zur Förderung verbrauchergerechter Angebote im Rechtsdienstleistungsmarkt beschlossen. Für Ministerin Christine Lambrecht sollen Verbraucher*innen von neuen Möglichkeiten für die Durchsetzung ihrer Rechte profitieren. “Es gibt inzwischen zahlreiche innovative und leicht zugängliche Rechtsdienstleistungsangebote von Inkassounternehmen, zum Beispiel im Bereich der Fluggastrechte und des Mietrechts.” Man wolle die Entwicklung im Bereich Legal Tech weiter voranbringen und zugleich vergleichbare Wettbewerbsbedingungen für die Angebote von Rechtsanwaltschaft und Inkassodienstleistern gewährleisten. Zudem solle sichergestellt werden, dass die Verbraucher*innen ausreichende Klarheit über die Vor- und Nachteile der einzelnen Angebote haben.

Viele Legal-Tech-Unternehmen werden zumeist als registrierte Inkassodienstleister nach dem Rechtsdienstleistungsgesetz (RDG) tätig. Als solche gelten für sie andere berufsrechtliche Vorgaben als für Rechtsanwält*innen, die gleiche Leistungen anbieten. Um insoweit gleiche Wettbewerbsbedingungen herzustellen, soll Rechtsanwält*innen künftig gestattet werden, in größerem Umfang als bisher Erfolgshonorare zu vereinbaren und Verfahrenskosten zu übernehmen. Ein weiterer Schwerpunkt des Gesetzentwurfs liegt darin, … … weiterlesen

Legal Tech und Schadenregulierung – das (einzige) Werkzeug für Regulierung auf Augenhöhe? (Teil 1)

Von Tim Platner — Unser Autor geht in dem ersten Teil dieses äußerst praxisrelevanten Gastbeitrags im Legal Tech Blog der Frage nach, wie Legal Tech bei der Schadenregulierung helfen kann, um eine Regulierung auf Augenhöhe mit den Versicherungsunternehmen zu ermöglichen. Als Jurist und Geschäftsführer der Legal Data Technology GmbH (VINQO.DE – Legal-Tech-Plattform für Schadensfälle) verfügt Platner über fundiertes Expertenwissen direkt aus der Praxis.

Teil 1: Wie kommt der Geschädigte zu seinem Recht?

Die Idee und der Antrieb von Legal Tech im Verbraucherbereich ist es, die Lücke zwischen Recht und Rechtsdurchsetzung möglichst zu verringern. Der Anspruchsinhaber soll das, was ihm zusteht, in der Praxis auch durchsetzen können. Besonders kritisch und für den Betroffen augenfällig ist dabei das Delta, wenn es um die Restitution von Schäden geht. Der Verbraucher sucht hier nicht freiwillig einen Rechtsstreit, um zum Beispiel eine legitime Gewinnaussicht zu realisieren, sondern er hat einen spürbaren, … … weiterlesen