Schlagwort-Archiv: legal-tech-blog.de

Silicon Valley Bank (SVB) has been a pillar of support for startups in the tech industry, providing them with financial resources, guidance, and networking opportunities. However, the bank is currently facing a crisis that could have significant implications for startups such as legal tech startups in Silicon Valley and beyond.

What happened?

Startups had parked large deposits at the bank in recent years, but now had to liquidate them faster than expected in light of rising interest rates. To be able to continue to provide customers with money, the bank had to sell bonds which brought losses because of recent price drops on the bond market. Then, the bank wanted to raise liquid funds via an emergency capital raise. But the attempt to raise fresh money from investors by issuing new shares caused further uncertainty.

What are the remedies? 

… weiterlesen →

Legal AI company Casetext unveiled CoCounsel, the company’s first AI legal assistant. CoCounsel leverages the latest, most advanced large language model from OpenAI, which Casetext has customized for legal practice, to expertly perform the skills most valuable to legal professionals.

“Our AI legal assistant is the first of its kind,” said Jake Heller, co-founder and CEO of Casetext. “It creates a momentous opportunity for attorneys to delegate tasks like legal research, document review, deposition preparation, and contract analysis to an AI, freeing them to focus on the most impactful aspects of their practice.”

CoCounsel introduces a groundbreaking way of interacting with legal technology. For the first time, lawyers can reliably delegate substantive, complex work to an AI assistant — just as they would to a legal professional — and trust the results.

“Casetext has transformed … … weiterlesen →

Chat GPT, the latest language model tool, has been making waves since its release last month by OpenAI. The tool allows users to have conversations with a chatbot that can understand natural language and respond in a way that mimics human speech patterns. The app can answer questions, write poems, and even explain quantum physics, but experts say that a full AI takeover is not imminent.

The chatbot is powered by large amounts of data and complex algorithms that make predictions about how words should be strung together in a meaningful way. They not only tap into a vast vocabulary and information but also understand words in context. This helps them mimic speech patterns while dispatching encyclopedic knowledge.

According to sources familiar with the matter, Microsoft is in talks to invest $10 billion into OpenAI, the company behind … … weiterlesen →

Pre/Dicta, claiming itself the only litigation analytics platform that makes predictions about the outcome of federal lawsuits, announced the acquisition of Gavelytics, a pioneering judicial analytics platform for state court cases.

The purchase, the terms of which were not disclosed, dramatically shortens Pre/Dicta’s timeline for creating a tool that offers instant and accurate predictions for state courts across the country.

“Pre/Dicta created what I always dreamed of for Gavelytics; a litigation analytics platform that was forward-looking rather than backward-looking, that could make predictions and not just provide generic descriptive statistics,” said Gavelytics founder Rick Merrill, who is joining Pre/Dicta as its strategic advisor.

According to Pre/Dicta, Gavelytics was a market leader in litigation analytics for state courts, where 95% of all cases heard in the U.S. take place. Launched in California in 2017, the company expanded its … … weiterlesen →

LexCheck, a leading AI-powered contract acceleration and intelligence platform, announced it has raised $17M in Series A funding led by Mayfield Fund. The funding will fuel the expansion of LexCheck’s contract review technology as it helps businesses accelerate growth by unlocking legal talent. 

This funding comes on the heels of a significant period of growth for LexCheck. The company has tripled its customer base in the last year. LexCheck has seen success with customers across more than 14 different industries, including some of the world’s largest financial institutions, fastest-growing technology providers and top law firms. 
 
“One of the biggest opportunities for businesses today is to minimize the inevitable friction caused by increased specialization and expectations to scale. The ability to accelerate revenue and actualize on business decisions typically delayed by prolonged negotiations is … … weiterlesen →

– By Nick Rich, Head of Corporate Engagement UK&I at Exterro –

Effective data management is no longer an optional extra, but a fundamental part of organisational strategies. Good data analysis allows companies to make informed decisions and create reality-based plans. From enhanced customer experiences to streamlined administrative operations, effective analysis is key to identifying areas for improvement and innovation – and analysis depends on data management.

However, while it’s easy to get caught up in the opportunities data offers, organisations must tread with caution. If captured, kept, or used wrongly, data can end up doing more harm than good.

Typically, more data leads to more risk. With each rise in the amount of information an organisation acquires, the more expensive and difficult it is to store and manage it safely, heightening administrative burdens and costs. Equally, it becomes harder for firms to achieve best practices across … … weiterlesen →

LegalOn Technologies (“LegalOn”), a legal technology company and AI contract review software provider from Japan, announced its expansion into the United States, the largest legal market in the world, and the appointment of Daniel Lewis as US CEO.

“LegalOn has built the world’s leading AI contract review solution for in-house teams and law firms and we are excited to bring our unique solution to the US,” says Nozomu Tsunoda, CEO. “We have over 3,000 customers, a team of 400 employees, $101m in recent fundraising, and now we’ve added an experienced executive, Daniel Lewis, to lead our US expansion.”

Daniel Lewis joins LegalOn as US CEO after five years at LexisNexis leading practical guidance businesses serving 100k+ attorneys. He previously founded and led Ravel Law, a legal analytics software company.

“One of the biggest challenges that general counsel and in-house teams face is … … weiterlesen →

Contract management platform Terzo raised $16M in Series A funding led by Align Ventures with participation from TYH Ventures, Engage Ventures, Human Capital and other. The company is also welcoming world-known entrepreneurs as angel investors, including Ryan Breslow (Founder & Chairman of Bolt) and Daniel Saks (Co-founder & President of AppDirect). 

“Terzo is tackling a $6 trillion problem that almost every organization faces. Most companies do not have an effective contract management system in place which leads to inefficiencies like overspend. Terzo has developed a much needed unique enterprise platform to empower the buy side. We chose to back Terzo from the start as they have the team, vision and product needed to completely change how companies manage their contracts and enterprise relationships.” said Neel Chary, Partner at Align Ventures.

Terzo is a contract intelligence software powered by a AI-as-a-Service model. Terzo … … weiterlesen →

La Touche Training, Ireland’s Legal Training company, announced the Legal Tech Conference 2022, taking place on 29th November in Croke Park, Dublin, Ireland. The Legal Tech Conference is a well-known event for all things related to legal technology and eDiscovery in Ireland and globally. The conference gathers law firms, government departments, corporates, general counsel, in-house lawyers, regulatory agencies, eDiscovery providers, advisors and much more for an enlightening day focusing on best practices and the latest trends and developments.

On the agenda:

Keynote Address by Justice Leonie Reynolds

How embracing technology can make discovery and investigations more cost effective – an update from the Civil Justice Review Group

Cyber Incidents & Managing Risk in Investigations with Pat Ryan MSc – Detective Superintendent – Garda National Cyber Crime Bureau and Jon Blake MBCS – Cyber & Internet Investigator

• Current Cybercrime Landscape
• How the GNCCB investigate cybercrime
• The rise of ransomware attacks
• Reporting – Why Report & Obligations
• Risks to … … weiterlesen →
  

SirionLabs, a global leader in AI-powered contract lifecycle management (CLM), announced the acquisition of contract automation platform Zendoc. With this expansion Sirion aims to further enhance its commitment to the application of AI in CLM. Through the Zendoc acquisition, SirionLabs is also establishing a Center of Excellence (CoE) in Nice, France, located in the region known as the European Silicon Valley, as stated by SirionLabs.

This new European CoE joins a recently established Sirion CoE in Toronto as the company continues to scale up just months after its $85 million Series D funding round in May led by Partners Group. 

“The war for talent is global, and we’re thrilled to be adding such skilled professionals to the Sirion team as well as gaining a foothold in a key region for tech development,” … weiterlesen →

The European Legal Tech Association (ELTA) Annual Legal Tech Conference will take place in Tel Aviv this year. Join ELTA for the main event on November 29, 2022, for a day of legal tech, networking and fun. Following the day of the conference, there will be an optional start-up nation tour of companies in Tel Aviv.

With over 500 members, ELTA encourages a dialogue between legal technology users and developers. With regular in-person and online events ELTA strives to promote networking at a European level between all those who share an interest in legal technology.

Check out this year’s agenda on ELTACON’s website! The conference will be all about AI, Legal Tech Strategies, entrepreneurial decisions regarding the implementation of legal tech, Law Firms and New Law Companies, the future of legal tech, and – of course – networking.

… … weiterlesen →

Manchester-based contract lifecycle management platform provider Summize has secured £5m Series A investment from YFM Equity Partners (YFM) and Maven Capital Partners (Maven), as it looks to build its presence in the US and further develop its intelligent SaaS legal technology. 

Founded in 2018, Summize has experienced rapid growth by taking a disruptive approach to a traditional sector. Its world-first integrated contract lifecycle management (CLM) software is uniquely designed to make contract workflows smarter and up to 85 per cent faster by digitising and automating manual legal processes. The solution integrates into the daily life of any business via established platforms including Teams and Slack, improving collaboration between in-house legal and business users.  

Summize has more than 100 businesses worldwide on its platform, including Fujifilm, Everton FC, NCC Group, … … weiterlesen →

After two incredible shows in London, Artificial Lawyer and Cosmonauts will host Legal Innovators UK this year again – bringing you the best in Legal Tech in London! Legal Innovators UK will take place on the 10th and 11th of November 2022 at the stunning etc. venues St. Pauls. Focused on the intersection between technology and law, Legal Innovators is for everyone interested in innovation.

If you, dear reader, are thinking about buying a ticket last minute to attend the event, we got you covered with one of five free tickets for Legal Innovators UK! Just use our code ‘LEGALTECHBLOG‘ in the check-out process when buying the ticket online; and if you are fast enough, you will be one of our five lucky readers who get their ticket free.

About the Event

With day one of the two-day event … … weiterlesen →

Ghent-based scale-up Contractify is already working with numerous partners to optimize their contract management software. Contractify’s goal is to offer their clients a solution that allows them to manage the entire contract lifecycle in one place. For the first phase in this cycle, contract creation, they have now joined forces with Leuven-based legal software platform ClauseBase. 

Who is Contractify?

Steven Debrauwere and Herlinde De Buck started Contractify in 2015. In the meantime, the ambitious company has grown into a leading software supplier for contract management. The cloud software helps companies centralize, manage and sign all contracts in one secure contract library. The platform prevents unwanted automatic extensions and speeds up the signing of contracts with customizable signing and approval flows. With the help of Ada, an AI-powered contract assistant, the company also aims to improve the speed of contract digitization and analysis. 

… … weiterlesen →

Global law firm Shearman & Sterling announced the launch of Legal Operations by Shearman, a new offering designed to meet the evolving people, process and technology needs of in-house law departments. The new offering is focused on embedding tools, techniques and behaviors as part of the firm’s commitment to finding innovative and efficient legal solutions and service delivery for its clients’ business needs.

Legal Operations by Shearman will initially offer services in five key areas:

• Knowledge Management: Supporting improved capture of tacit and explicit knowledge.
• Process Improvement: Identifying processes in need of improvement and supporting the design of new processes.
• Legal Technology: Identifying the most relevant technologies to support efficient ways of working.
• Business Intelligence: Supporting law departments in making the most of the data at their disposal, including through data visualization and analysis.
• Training & Development: Supporting the … … weiterlesen →
  

Mike Schuman

Immediation, founded in 2017, offers a holistic end-to-end dispute resolution platform for case intake, management, collaboration, secure digital hearings and insights. Today, the enterprise claims to provide the world’s most secure and specialized digital legal environment for dispute resolution, justice, and legal practice. We sat for a chat with Mike Schuman, CSTO of Immediation – the one who keeps an eye on cybersecurity, privacy, and risk – about Immediation’s purpose, cybersecurity, ‘the vault’ at ILTACON 2022, and the potential of online dispute resolution. Read on to find out what Mike Schuman told us.

LTB: Mr. Schuman, what is the purpose of Immediation’s tools and solutions?

M. Schuman: Ultimately, Immediation’s purpose can be summed up in three words: Speed to Resolution. As the ‘gold standard’ online dispute resolution platform, Immediation provides greater access to justice, alternative dispute … … weiterlesen →

By Shayan Edalati and Jan Gilarowski

Over the last two decades, Cloud-based software has revolutionized the way we build, buy and use software. Few areas are untouched and the cloud is becoming the leading technology. This is true for the legal tech products as well. With the fast adoption came unprecedented growth for the vendors: Over the last years, cloud companies have grown faster than any other industry. And with it, valuations. But recent events have brought a stop to what has been a bonanza not only for the leading SaaS players, but also cloud-based legal tech companies’ valuations.      

What happened to the funding environment?

In recent years a variety of factors gave the tech industry a boost: liberal monetary policies made tech’s long-term growth more attractive to investors while the TINA-situation (“there is no alternative”) turned a former niche-market into a shareholder darling. Tech stocks heavily benefitted from the coronavirus pandemic elevating life and work online. Additionally, with several growth funds fuelling the ecosystem … … weiterlesen →

Cleary Gottlieb officially launched ClearyX, its platform for highly efficient AI and data-driven legal services, in June, and it has now announced its roster of Advisory Board members.

ClearyX is a tech-forward platform dedicated to reimagining how legal services can be delivered. By drawing on the insights and experience of these legal and business leaders, ClearyX’s services will closely align with client needs to address a broad range of issues.

“Following on the heels of our successful launch earlier this year, it’s exciting to reach another milestone in the life of ClearyX with the establishment of our Advisory Board,” said Cleary Managing Partner Michael Gerstenzang. “We are honored to have such an accomplished group of individuals, who bring great diversity of experience and perspectives, collaborating with us on this new venture. It is a testament not only to the progress … … weiterlesen →

After two incredible shows in London, Legal Tech news site Artificial Lawyer and Cosmonauts, a first in service B2B conference producer and business development organisation, are proud to present Legal Innovators UK 3.0 – bringing you the best in Legal Tech in London! Legal Innovators UK will take place on the 10th and 11th of November 2022 at the stunning etc. venues St. Pauls.

Focused on the intersection between technology and law, Legal Innovators is for everyone interested in innovation. With day one focused on law firms and legal services businesses, and how they are driving innovation and the second day focusing on innovation amongst in-house legal teams and legal ops professionals, Legal Innovators UK will become host to incredible Legal Tech providers alongside industry leading speakers and presenters to offer you the chance to facilitate change in the sector.

Legal Innovators UK is about the real-life experiences of … … weiterlesen →

The increasing complexity of compliance, new client expectations, talent challenges and productivity demands are pressuring legal professionals as never before, according to the findings of Wolters Kluwer’s new global Future Ready Lawyer Survey 2022. The survey also finds that more progress is needed as most legal professionals say they are not well- prepared to address key challenges and opportunities.

Challenged to keep up with emerging trends and escalating demands, legal professionals are increasingly turning to legal technology for help. Across Europe and the U.S., the investment and demand for legal tech solutions have accelerated, with technology now firmly at the center of improved performance, productivity, client-firm relations and talent expectations. According to survey findings:

• 91% of corporate legal departments are expecting their law firms to fully leverage technology.
• More than 80% of lawyers say it’s of high importance to them to work for a tech-savvy law firm or … … weiterlesen →