The Vital Role of Managing E-Discovery

By Shawn Arnold and Clayton Romero, co-founders, CodexTen

E-Discovery is a critical process that begins at the onset of litigated matters and involves the exchange of information between parties involved in a lawsuit or other legal action.

All Discovery is E-Discovery 

Since the 1500’s when English Law codified discovery, today, all discovery is e-discovery. “eDiscovery” is merely the extension of the well-established discovery process to any Electronically Stored Information (ESI) that an organization might possess – email messages, voicemails, presentations, word processing files, spreadsheets, social media posts and all other relevant communication or information that might be useful in a legal action. The amount of electronic information attached to cases today can be mind boggling.

Whether your firm is working on a smaller case to a headline-grabbing global legal action, firms cannot ignore the importance of eDiscovery. In fact, a 2013 white paper by Osterman Research, Inc. 1 stated … … weiterlesen

LegalForce Raises $101M in Series D Led by SoftBank, Goldman Sachs and Sequoia Capital

LegalForce Inc., a Japan-based provider of the contract review platform LegalForce and the AI-enabled contract management suite LegalForce Cabinet, announced to have received a $101 million fundraise in a series D round led by the SoftBank Vision Fund, Goldman Sachs and Sequoia Capital.

The funds will be invested in accelerating recruitment, research and development, and sales and marketing  in order to realize the company’s mission of managing “all contract risks anytime, anywhere”.

Kentaro Matsui, Managing Partner at SoftBank Investment Advisers said: “Facing a shortage of lawyers and increasing pressure for operational efficiencies, corporations and law firms in Japan are seeking innovative solutions to support their legal operations. Through its software platform, LegalForce uses AI and machine learning to support the end-to-end lifecycle of contract management, thereby reducing workload and improving the accuracy of contract reviews. We … … weiterlesen

Clausematch Closes US$10.8 M Strategic Investment Round

Clausematch announced the close of a US$10.8M strategic funding round led by Lytical Ventures and joined by Flashpoint and Sony Innovation Fund. The new financing will be used to increase the company’s commercial activities in the US and invest in its product, technology and data science teams. The new funds bring the total investment to date to over US$20M.

Clausematch is a financial technology company that provides a software-as-a-service platform for smart management of compliance documents and processes, enabling regulated companies to meet compliance obligations. According to Clausematch, since its last funding, its team has made numerous advancements to its product offering and launched a new core module, Policy Portal, which has been adopted by all of Clausematch’s biggest clients. Policy Portal … … weiterlesen

“Hier wird endlich eine Mauer eingerissen, die bisher viele vom Gründen in Deutschland abgehalten hat”

(English version below)

Ein Interview mit Christian Manthey – Gründer und CEO von firma.de – über das DiRUG.

In diesem Sommer soll das DiRUG – das Gesetz zur Umsetzung der Digitalisierungsrichtlinie – in Deutschland in Kraft treten. Durch dieses Gesetz sollen etwa die Online-Gründung der GmbH sowie weitere Online-Verfahren für Registeranmeldungen bei Kapitalgesellschaften ermöglicht, neue Regelungen zur Offenlegung von Registerinformationen getroffen und der europäische grenzüberschreitende Informationsaustausch, insbesondere bezüglich Registersachen, verbessert werden. Wir haben mit Christian Manthey, Gründer und CEO von firma.de, über das neue Gesetz, dessen praktische Folgen, das Geschäftsmodell seines Unternehmens sowie die Zukunft eines digitalisierten Gesellschaftsrechts gesprochen. Firma.de ist ein in Deutschland führendes Unternehmen, wenn es um die Unterstützung von Startups in der Gründungsphase und die Entbürokratisierung der Gesellschaftsgründung geht. Dabei hat sich firma.de auf die Fahne geschrieben: Firmengründung … … weiterlesen

Syntheia Acquires Motionize

Syntheia, a contract and data startup, has acquired Motionize, another startup which offers a Word add-in that improves access to knowledge and provides drafting guidance to transactional lawyers.

The move to acquire the business first started in April 2022, after the two companies had been collaborating for the six months prior. The acquisition process took about a month, and completed on 31 May 2022.

Following this acquisition, Syntheia will be offering four distinct products:

  • an intelligent drafting recommender that surfaces precedent clauses while inside Microsoft Word,
  • a multi-document terms comparer that identifies variances and risks between contracts,
  • a self-sorting clause bank for knowledge management of contracts, and
  • a suite of data extraction and natural language processing APIs for legal documents.

Horace Wu, Founder and CEO of Syntheia said:

“We are … … weiterlesen

4th Legal Innovation Challenge Took Place in Stuttgart

Deutsche Version unten / German version below

The Legal Innovation Challenge took place for the 4th time from May 20-22 in Stuttgart. In this innovation format, more than 40 talents from the southern German region developed digital solutions in interdisciplinary teams from law, business & IT based on practical problems of law firms.

Each of the five participating law firms – Ebner Stolz, Oppenländer, Menold Bezler, Lutz Abel and Thümmel, Schütze & Partner – submitted a problem (“Challenge”) for the event. These challenges ranged from supply chain law and ransomware attacks to whistleblowing, social selection, and an Open Source Companion.

In the course of agile development of a Minimum Viable Product (MVP) and a digital business model, the teams applied client-centric innovation methodologies. The teams were supported by coaches from … weiterlesen

Deloitte Spinout Arteria AI Announced Strategic Investment Lead by Citi

Arteria AI, a Deloitte spinout and leading enterprise in digital documentation, announced it has received strategic investments from Citi SPRINT (Spread Products Investment Technologies), the strategic investing arm of Citi’s Global Spread Products division, and BDC Capital

Arteria’s software has been deployed at global financial institutions to deliver fast and accurate documentation experiences to clients, while lowering the cost and risk of doing business. Arteria uses artificial intelligence and a data-first approach on its mission to make documentation processes frictionless.

Arteria includes a series of product modules that can be used to help draft, negotiate and analyze documentation and contracts. Unlike other CLM platforms, Arteria claims to be built to the specific requirements of the institutional banking and trading sector. It aims to deliver efficiencies … … weiterlesen

The 2022 In-House Legal Tech Report Is Released

While corporate legal departments are still trying to shake the reputation of being slow to modernize, adapt, and adopt new technology, a recent study commissioned by ContractWorks paints a very different picture of today’s modern legal professionals. 

This new study, carried out by international research agency Censuswide, reveals key trends from 350 in-house legal professionals from the United States and the United Kingdom. General counsel, in-house lawyers, and other members of the legal department share insight on the lasting impacts of the Covid-19 Pandemic on the legal workforce and their personal experiences and preferences about work style, legal technologies, and their employers.

According to ContractWorks, research shows that legal tech adoption is on the rise, and that when in-house lawyers adopt the right solutions, the results can be transformative for … … weiterlesen

DiliTrust Raises €130M to Accelerate Its Growth Internationally

DiliTrust, a France-based provider of SaaS solutions for legal departments, is bringing together a consortium of investors with Cathay Capital, Eurazeo and Sagard. The €130m heavy investment will enable DiliTrust to accelerate its growth, both organically and through acquisitions, and to support its innovation, and international expansion. The company also plans to carry out a significant recruitment initiative over the next twelve months. 

According to DiliTrust, the SaaS provider is a leader in France, Canada, Italy, Spain, and Morocco and is present in nearly 50 countries in Europe, North America, Latin America, the Middle East and Africa. To address the increasing complexity and workload of legal departments, the company proposes the DiliTrust Governance Suite, which aims to significantly simplify operations.

This investment is a recognition of DiliTrust’s performance and reinforces its … … weiterlesen

CLM Platform Provider SirionLabs Announced $85M Series D Funding

AI-powered contract lifecycle management (CLM) platform provider SirionLabs announced a fresh round of $85 million in Series D funding led by Partners Group acting on behalf of its clients, with participation from existing investors Avatar Growth Capital, Sequoia Capital India and Tiger Global. This brings the total raised by SirionLabs to $157 million – a significant milestone for the company as it more than doubles the company’s capitalization. The investment will enable SirionLabs to continue expanding its position in the rapidly growing enterprise CLM market, which is projected to reach $3.3 billion by 2027.

The two biggest challenges in CLM are aligning post-award performance with contract terms and automating the import of legacy documents using AI,said Ajay Agrawal, Co-founder and CEO of SirionLabs. “The SirionOne platform has a … … weiterlesen

Contract Intelligence Platform Evisort Announced $100M Capital Raise

No-code contract intelligence platform Evisort announced it has raised $100 million in capital, including equity and venture debt financing. This latest round of funding is led by global growth investor TCV, a key investor in Airbnb, LinkedIn, Netflix, and other market-defining companies. TCV General Partner Amol Helekar will join the Evisort board of directors. This financing round includes participation by Breyer Capital and all major existing investors, including General Atlantic, Microsoft’s venture capital fund M12, Amity Ventures, and Vertex Ventures.

Every time an organization buys, sells, hires, or otherwise transacts, it creates a contractual data layer. We created Evisort because it is absolutely critical for organizations to easily access and manage this data inside their contracts. We … … weiterlesen

LexisNexis Announces Acquisition of CLM Solution Parley Pro

LexisNexis Legal & Professional, a leading global provider of information and analytics, announced the acquisition of Parley Pro, a Contract Lifecycle Management (CLM) solution and contract automation software provider, to complement LexisNexis’ Enterprise Legal Management (ELM) platform, CounselLink.

Founded in 2015, Parley Pro enables contract request, drafting, negotiation, signature, and post-signature management via a secure, cloud-based platform. AI-powered and easy to use, Parley Pro offers simultaneous collaboration, context-aware integration, and end-to-end contract process automation. In addition to that, Parley Pro gives corporate legal departments visibility into their entire portfolio of contracts in progress, with predictive and actionable analytics to help inform data-driven business decisions and unite organizations around contracts.

Parley Pro’s CLM capabilities provide the critical third pillar—in addition to Legal Spend and Matter Management—to strengthen our already robust CounselLink platform,said Sean Fitzpatrick, CEO, LexisNexis UK and North America. … … weiterlesen

Deloitte Legal and Contractify Join Forces to Create a CLM Solution

Deloitte Legal and Contractify have built an affordable end-to-end contract lifecycle management solution for the Belgian legal market, connecting Contractify’s contract management software to Legau, Deloitte Legal’s contract automation software. Deloitte Legal will add its legal and paralegal expertise to the solution to support clients to streamline their processes in order to fully experience all the benefits that Contractify and Legau offer.

Jan Roggen, Director of Legal Managed Services at Deloitte Legal, stated“Talking with clients in Belgium, we noticed that they struggle with finding a reliable, yet affordable, solution for contract management with limited implementation costs. We recognised that Contractify is a great, cost-efficient and reliable partner for many clients, and we are excited to combine forces to change the way legal services are delivered.”

Through this partnership, Contractify and Deloitte Legal aim to provide a one-stop-shop for Belgian legal departments looking … … weiterlesen

Athennian Raises $33m to Promote Its Entity Management Technology

Cloud-based business entity management technology company, Athennian, announced that it has raised $33 Million in its Series B round, led by Centana Growth Partners with participation from existing investors Arthur Ventures, Touchdown Ventures, and several private investors.

Founded in 2017, Athennian’s software enables legal, tax and finance teams to digitise and manage their business entities and company structures. Athennian has developed cloud-based legal tech used by law firms, legal departments, and professional services firms to automate subsidiary and entity management, transforming compliance, governance, and transactional workflows. The data collected on its platform covers a wide range of services, including compliance, ownership, and digital signatures.

We’re excited about this new investment round as it will help us support more clients and meet the increasing need for digital automation and corporate transparency demands required by governments … … weiterlesen

This Weekend: Global Legal Hackathon 2022

The Global Legal Hackathon, the world’s largest technology innovation event and learning laboratory for the legal industry, will open the #GLH2022 competition on March 25-27, 2022. Thousands of legal professionals, software developers, designers, and businesses will come together for one purpose: rapid development of solutions to improve the legal industry.

Returning for its fourth year, #GLH2022 is expected to surpass previous years, with over 100 host cities and 10,000 participants expected from around the globe, tapping into the creative energy of a legal industry that is experiencing accelerated innovation as a consequence of the pandemic.

Starting on Friday evening and continuing until Sunday evening, teams will develop new technology solutions to “business of law” and “access to justice” problems, and compete to be selected as winners in their respective cities and progress to the global semi-finals. Finalists will then be invited … … weiterlesen

Linklaters Partners with BRYTER

Global law firm Linklaters has partnered with the no-code automation platform provider BRYTER on a series of global initiatives to accelerate the delivery of legal advice and other services to clients in new and innovative ways. The partnership, which is being led by newly appointed Global Head of Practice Innovation, Greg Baker, and the firm’s global practice innovation team, has already delivered a number of client solutions and continues to look for potential areas for digitization across the firm’s global practice areas on key legal and regulatory topics.

Extending across various areas of delivery, the partnership is aiding the development of client-facing technology, the improvement of internal workflows and the provision of pro bono support offered to local and global communities.

Greg Baker, Global Head of Practice Innovation, commented“As we continue … … weiterlesen

Thirdfort Secures £15M Series A Funding

Thirdfort, the anti-money laundering (AML) and know your customer (KYC) technology provider for the legal sector, has secured £15M in a series A funding round.

Since January 2020, Thirdfort grew from a team of 10 with 30 business clients and one industry partner to an enterprise with 100 “Thirdforters”, 700 business clients, and 15 industry partners who have integrated Thirdfort. Now, Thirdfort has taken it’s first institutional investment from Breega and Element Ventures.

With recent events bringing into sharp focus the importance of spotting and preventing money laundering and other fraud, Olly Thornton-Berry, Managing Director & Co-Founder, sympathises with professionals who are trying to protect their businesses and clients while facing a tidal wave of increasing regulation and fraud risk.

According to Thornton-Berry, client ID verification, source of funds confirmation (guilty until proven innocent) and client funds transfer … … weiterlesen

Legaltech Startup Josef Launches in the US

After successfully launching in the UK and Europe in 2021, Australian-founded legaltech startup Josef has announced their launch into the United States. The software company provides a no-code platform for attorneys and legal professionals to automate tasks, including lawyer-client interactions, sending emails, generating legal documents and providing legal guidance and advice. 

With a mission of transforming the way legal services are delivered, Josef makes life easier for all involved by automating repetitive work for attorneys, and streamlining service delivery for clients. 

With a US team on the ground, Josef can better serve existing US customers, and continue to expand their already-global services and products into new teams and new territories. Josef’s founding team have confirmed that their US plans have always been central to their long-term goals.

Since my time studying at Columbia Law School, I have had a deep respect for … … weiterlesen

New Report by Wolters Kluwer and ECLA: Legal Departments on the Move

Wolters Kluwer and the European Company Lawyers Association (ECLA) have released an in-depth overview of the state of digitalization in a new report Legal Departments on the Move, offering insights into how legal departments have responded to recent challenges and key issues they are facing. The report is based on a comprehensive survey into the corporate legal profession, conducted in the second half of 2021, with data from more than 500 legal departments across Europe (including Belgium, Germany, France, Italy, the Netherlands, Poland, Spain, and Sweden). The survey is the second from Wolters Kluwer and ECLA, with the first released in 2020. 

Legal software has entered the daily workflow 

The 2020 survey confirmed the relevance of having a clear strategy to form a more digitally mature legal department, and that digitalization was already high on the agenda of corporate legal departments. However, … … weiterlesen

DISCO Has Acquired Hold360 and Request360

Legal tech provider DISCO announced it has acquired legal workflow products Hold360 and Request360, as well as related regulatory and alert solutions, from Congruity 360, LLC. These critical legal workflow capabilities will integrate with DISCO’s cloud-based e-discovery platform and provide a modern, digital solution for corporate legal hold obligations and legal request compliance. 

Hold360 and Request360 are next-generation, streamlined technology solutions that eliminate the challenges from legacy solutions, which relied on human processes, teams of attorneys and legal professionals, and limited technological solutions to ensure compliance with legal preservation obligations. 

With Hold360 and Request360, DISCO will expand its solution set to address the legal hold requirements of customers, including the ability to hold data and documents in place electronically rather than recreate, store, and manage copies of duplicative data. Further, silent hold capabilities allow legal teams to easily enact holds, without the need to engage … … weiterlesen

Legal Tech Startup Clara Announced $3.5M Seed Funding From The LegalTech Fund

Clara, a legal operating system that provides an integrated collection of self-service tools to assist founders digitally organise, manage, and develop their firms, announced that it had raised more than $3.5M in seed funding from The LegalTech Fund. The platform is nearing the end of its beta period.

According to TechFundingNews, the London based startup’s exit from beta means better features and functionality for the 1,200+ startups that have already signed up, including quick company formation in major jurisdictions where VCs and accelerators frequently invest. Improved cap table functionality and faster legal document processing are included in the platform. In the coming year, Clara will grow into new jurisdictions and continue to provide new and improved services to its users.

Clara was founded in 2018 by a group of entrepreneurs who have worked in … … weiterlesen

CodeX FutureLaw 2022 – A Summary

On April 07, 2022, the FutureLaw 2022 Conference, hosted by CodeX – the Stanford Center for Legal Informatics – was held on the Stanford University campus. FutureLaw 2022 was CodeX’s first in-person conference since the start of the Corona pandemic, which has also been streamed via Zoom.

This year’s CodeX conference was its tenth annual conference focusing on the way technology is changing the legal profession, the law itself, and the way these changes affect us all. 

Following the opening of the event and warm welcome to all attendees by Jenny S. Martinez, Dean of Stanford Law, and Roland Vogl, Executive Director of CodeX, Jennifer Newstead delivered an opening keynote speech. Newstead is the chief legal officer at … … weiterlesen

Filevine Raises $108M Series D for Legal Work Platform 

Filevine, a company offering a software-as-a-service product for legal case management, announced that it raised $108 million in a Series D funding round led by StepStone Group, with additional funding from Golub Capital. Signal Peak Ventures and Meritech Capital, repeat investors in Filevine, also participated in this round.

As law firms contend with rising demand and a talent shortage, many have turned to Filevine’s all-in-one legal suite to improve efficiency, mitigate stress, and grow revenue. The Series D funding will help power Filevine’s expansion more deeply into big law, insurance defense, corporate, governmental, and nonprofit legal counsel teams, building on the company’s expertise in litigation and personal injury law.

Founded in 2014, Filevine is building a new interface for legal work. CEO and co-founder Ryan Anderson, a former … … weiterlesen

Josef And LexisNexis Announced Partnership

Legaltech platform Josef has announced a partnership with LexisNexis Pacific, one of the world’s foremost legal content platforms. The partnership will see Josef and LexisNexis join forces to streamline how legal and compliance professionals access LexisNexis’ global content library.

Starting with the LexisNexis Regulatory Compliance solution, the collaboration augments how users retrieve content through an integration that offers an alternative method of querying the content library delivering workflow efficiencies, heightened transparency and actionable insights.

LexisNexis Pacific, Managing Director, Greg Dickason said Josef represents the innovative technology that LexisNexis has always embraced.

“LexisNexis has continually been innovating in this space for over 50 years, adopting and pioneering new technology ensuring that our content is optimised and highly accessible,” Dickason said. “Our partnership with Josef makes sense to us as we work with emerging no-code solution providers. We believe in experimenting … … weiterlesen

LinkSquares Raises $100M in Series C Funding

LinkSquares announced that it has secured $100M in its Series C funding round led by G Squared, with participation from new investor G2 Venture Partners and existing investors. Hence, raising the company’s capital only nine months from its Series B. This brings the total funding of the startup that offers AI-powered Contract Lifecycle Management (CLM) solutions built specifically for in-house legal teams to $161.4 million at an $800 million valuation.

Vishal Sunak, co-founder and CEO of LinkSquares stated: “It’s taken a lot of hard work to get us here, and I’m thrilled for our team. Over the last seven years, we’ve built relationships with over 500 in-house legal teams, Chief Legal Officers, and GCs. We’ve seen the immense contributions these trailblazers bring to businesses and how they’re showing their value through data-driven actions and insights. I know I speak for all … … weiterlesen

The Legal Tech Blog Gets A Fresh Face

We are pleased to announce that the Legal Tech Blog will start the new year with a redesign relaunch. On February 12, the Legal Tech Blog will relaunch under the new URL “legal-tech.blog” and get a fresh design.

Over the past few months, we have been working on making the blog clearer and more appealing, introducing easier navigation, and raising our privacy standards. Now the blog presents itself in a modern color scheme as well as a simple, functional, and beautiful new layout. We have brought new order to the blog’s page system and improved the readability of the content. In addition, the Legal Tech Blog will be even more targeted to an international audience and will be completely available in English.

The updated version of the blog will still be available under the old URL “legal-tech-blog.de” by automatic redirection.
Our twitter and LinkedIn accounts will of course … … weiterlesen

AltaML And Compass Law Form Legal-AI Joint Venture Jurisage

AltaML, a leading applied AI studio, and Compass Law, an independent Canadian legal publisher, announced the launch of Jurisage AI, a joint venture leveraging the parties’ expertise in artificial intelligence and legal innovation.

According to AltaML, Jurisage AI expands a relationship and collaboration in place since September 2020 when AltaML and its co-CEO joined the Legal Innovation Data Institute (LIDI), as founding member and advisor, respectively. LIDI was initially launched by Compass to lower the barrier to technological innovation in law through providing members controlled access to the Compass case law collection for non-profit and non-commercial uses. The potential and scope of that opportunity uncovered by AltaML through a year of natural language processing (NLP) and machine learning (ML) research and prototype development opened the door to establishing a commercial venture with Compass. As co-founders of Jurisage AI, AltaML supplies the AI expertise and Compass supplies the … … weiterlesen

Reed Smith Launches Mobile App for Arbitration Cost Forecasting

Global law firm Reed Smith announced the launch of a first-of-its-kind mobile app to help arbitration users calculate the costs of arbitration.

According to Reed Smith, through the Reed Smith Arbitration Pricing Calculator, clients can quickly and accurately navigate the myriad cost structures at key arbitral institutions to inform their dispute resolution stance.

The app is useful for both users engaged in dispute resolution and those engaged in cross border transactions and projects where arbitration is being considered as the method for dispute resolution.

Developed by Timothy Cooke, a partner in Reed Smith’s International Arbitration practice, the app represents the firm’s latest example of driving client-facing innovation.

The app, which is aimed at both dispute resolution and transactional lawyers, enables users to calculate the expected administrative and tribunal costs of arbitration in over 20 currencies based on several inputs, such as:

BigHand Acquires Iridium Technology

BigHand, a leading provider of operational and financial products for law firms, announced it has acquired Iridium Technology.

BigHand and Iridium have been offering complementary products and in coming together, now offer powerful insight and data into law firms financial management, operational management, resource optimization and business development.

Law firms are under continuous pressure to improve their efficiency while also growing their profitability. Our goal has always been to offer our clients the best solutions and support, that work for them – so when it comes to M&A, we’ve been very selective. We want to join forces with organizations that align to our goals and the goals of our customers. There has to be an added value to our customers and that’s what makes this acquisition very exciting. The combined organization now gives our clients the opportunity to access a vast amount of data… weiterlesen

Legal OS Raises €6M Venture Capital Led by Google’s Gradient Ventures

No-code legal automation platform Legal OS raises €6M venture capital, co-led by Gradient Ventures, Google’s AI-focused venture fund, and 10x with participation from existing investors HV Capital and Speedinvest. The company has built a no-code platform for automated contract creation, document generation, and process development to help legal teams speed-up their work and contribute to the no-code transformation in the legal industry.

Legal OS’s tool asks users questions and automatically builds an individual document from the answers. The software becomes more and more useful the more frequently users work with it. In the beginning, the rules and specifications are comprehensively defined. This yields the data that can build a legally compliant contract, as Lilian Breidenbach, co-founder and CEO of Legal OS, explained to Handelsblatt. The idea, she said, is to reduce repetitive work for legal customers.

Legal OS customers include companies such as … weiterlesen

Onit Acquires SecureDocs

Onit, Inc., a provider of enterprise workflow solutions including enterprise legal management and contract lifecycle management, announced that it has acquired SecureDocs, a global software company for contract management, virtual deal rooms and electronic signatures. With this acquisition, Onit aims to strengthen its position as a leading, modern contract lifecycle management (CLM) provider and to expand the company’s product portfolio from enterprise-level CLM to include a quickly deployable contract management solution for legal operations teams.

While Onit is widely acclaimed by Fortune 500 customers ContractWorks from SecureDocs shares a parallel record of success for midsize and smaller companies. New legal operations and corporate development teams can set up contract management in minutes, quickly establishing their function and proving value. According to Onit, SecureDocs and ContractWorks have helped customers effectively manage more than 13 million contracts and documents across 96 countries.

SecureDocs will integrate with … weiterlesen

Litera Acquires Lynch Marks LLC

Global legal tech provider Litera announced it had acquired Lynch Marks, LLC, a California-based invoicing and shipping management company that developed PS/Ship. With this acquisition Litera aims to add another piece to its platform for law firms looking to solve more issues through a single technology partner integrating with their broader systems. This is now Litera’s 14th M&A deal in recent times and follows the purchase of Kira Systems and Concep last year.

Avaneesh Marwaha, Litera CEO, said that the acquisition would “expand client services and deliver on organizational growth. The Lynch Marks team built a great suite of products with strong customer relationships. We are excited to build on Lynch Marks’ ability to link front-office functions and back-office processes, making invoice processing, shipping and inbound package tracking faster, easier, and less expensive for Litera’s global customers.”

We are thrilled to join the Litera family and excited … … weiterlesen

Aderant Acquires American LegalNet

Aderant, a global provider of business software to law firms, announced the acquisition of American LegalNet (ALN), a provider of court forms, eFiling, calendaring and docketing solutions. Hence, Aderant and ALN customers will get access to an expanded suite of solutions to meet the demands of their clients and foster digital transformation. 

Los Angeles based ALN was founded in 1996 to become a premier provider of “Desktop to Courthouse” litigation workflow solutions that include eDockets, Docket Direct, Forms WorkFlow, Smart Dockets, Docket Alerts and eFiling Portal. In March of 2021, ALN Cloud was released in order to advance the legal tech space with a true cloud solution.

Aderant is a global industry leader which provides comprehensive business management software for law firms and other professional services organizations.

According to Aderant, with more and more firms embracing a cloud-first strategy, Aderant’s acquisition of ALN will combine their … … weiterlesen

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