PwC in Alliance with ContractPodAI to Launch Legal GenAI Platform Leah for Contracts

PwC, a global network of professional services firms with over 4,000 lawyers globally, announced that it has entered into an alliance with ContractPod Technologies Ltd (“ContractPodAi”), a leading and innovative provider of legal AI technology, to launch a new consulting service powered by ContractPodAi’s Leah

This alliance will see PwC’s Legal Business Solutions leveraging Leah to expand their delivery and implementation capacity, positioning PwC at the forefront of legal GenAI. The Leah platform uses Generative AI, natural language processing, machine learning and data analytics to automate and enhance various aspects of contract related work, such as including redline, data extraction, and discovery tools to address day to day projects and transactions managed by procurement and legal departments. Leah generates insights and recommendations based on large volumes of data, delivering richer information that will enable the firms to identify solutions faster. 

Sarvarth Misra, ContractPodAi’s co-founder and CEO, … … weiterlesen

DraftWise Announces $20 Million Series A Funding Round

DraftWise, an AI-powered contract and negotiation platform for lawyers, has announced a $20 million Series A funding round led by Index Ventures, with additional support from existing investors Y Combinator and Earlybird Digital East Ventures.

The new financing will allow DraftWise to further strengthen and expand its industry-leading Contract Intelligence platform, which uses generative AI to help firms create higher-quality contracts in less time by empowering every lawyer with instant access to the firm’s collective institutional knowledge and data. The platform is recognized as an essential asset by top law firms in North America, Europe, and Australia, with customers hailing it as a mission-critical tool that elevates every part of the contract and negotiation process.

DraftWise’s customers, which include many lawyers at Vault 10, AM Law 100, Magic Circle, and Seven Sisters firms, use the platform every day to access historical and institutional knowledge, such … … weiterlesen

Clifford Chance Expands Use of Generative AI for its Global Workforce

Global law firm Clifford Chance announced that it is expanding its use of AI technologies with the deployment of Copilot for Microsoft 365 and Viva Suite for its employees globally.

Clifford Chance is one of the first organisations globally, to deploy both Copilot for Microsoft 365 and Viva Suite at scale across its entire workforce. These solutions use artificial intelligence and natural language processing to enhance productivity and employee experience by automating a variety of daily tasks such as meeting and task management, drafting emails, inbox management and access to continuous learning and insights with Viva Insights and Viva Learning.

This latest investment by the firm in the integration of a holistic suite of AI-powered workplace solutions in collaboration with Microsoft, is a significant milestone in Clifford Chance’s digital transformation journey.

Clifford Chance was one of the first law firms globally to build its own private and … … weiterlesen

LegalOn Introduces Generative AI Assistant for Contract Work

Contract technology provider LegalOn has launched a new generative AI legal assistant. With the power of GPT-4, the security of SOC2 compliance, and extensive training and testing by attorneys, Assistant is generative AI upgraded for legal professionals. It has the abilities to check defined terms, locate critical clauses, draft revisions, and summarize a contract in seconds.

This assistant enables one to save time searching through contracts. Users can ask any questions about their contract – including its amendments and exhibits – and get answers on legal and business terms instantly. This allows them to effortlessly locate specific clauses or translate complex expressions into plain language, saving time. One can also ask Assistant to identify key terms within the contract, such as service descriptions, SLAs, and payment clauses, providing the user with a complete understanding of their agreements. 

Further, LegalOn Assistant can draft new clauses and revisions… weiterlesen

Thomson Reuters Launches CoCounsel Core in Canada and Australia

Thomson Reuters, a global content and technology company, has continued the rapid execution of its AI technology strategy by making CoCounsel Core available in Canada and Australia. These are the first of the English-speaking international markets the generative AI legal assistant will be rolled out to, less than three months after the launch of CoCounsel Core to Thomson Reuters customers.

CoCounsel Core, introduced in the United States last year, equips today’s customers with eight generative AI-powered core legal skills, including Prepare for a Deposition, Draft Correspondence, Search a Database, Review Documents, Summarize a Document, Extract Contract Data, Contract Policy Compliance and Timeline. Together with AI-Assisted Research on Westlaw Precision and Ask Practical Law AI on Practical Law, these constitute the industry’s most comprehensive set of generative AI skills, designed to help lawyers quickly gather deeper insights and deliver a better work product.

In less than … … weiterlesen

NodeMasters Partners with BRYTER to Deliver Bespoke Automation Projects

NodeMasters, the straightforward consultancy for tailor-made process automation announces its new partnership with BRYTER, the leading no-code automation platform. NodeMasters caters to corporate and law firm customers of BRYTER around the globe.

NodeMasters’ suite of services is tailored to the needs of BRYTER customers:

  • Building as a Service: Delivering tailor-made solutions built on BRYTER.
  • Guided Building: Empowering customers’ own building efforts with tailored guidance & support.
  • Maintenance & Support: Flexible on-demand support for customers to maintain and enhance their BRYTER applications.
  • Training: Enabling BRYTER customers to derive maximum value from their license with a state-of-the art training program.

Michael Grupp, CEO of BRYTER, said: The NodeMasters team is a group of incredibly smart, driven, and reliable consultants. They are coders and builders at heart while at the same time knowing the enterprise software landscape inside out. In numerous, very high-value projects they have shown reliability on deliverables, a high empathy for … … weiterlesen

Darrow Launches AI-Powered Plaintiff-Finding Service PlaintiffLink

Darrow has announced the launch of PlaintiffLink – a solution designed specifically for law firms to efficiently connect with qualified plaintiffs for their cases in order to bridge the gap between law firms’ expertise and the people who most need legal representation. This tool is set to revolutionize the legal industry by enabling attorneys to concentrate on their core mission: delivering justice to those who seek it.

PlaintiffLink is designed specifically for law firms to efficiently connect with qualified plaintiffs for their cases. With the focus on quality, a rigorous two-tier vetting system allows one to connect with qualified and motivated plaintiffs.

Needless to say, without a quality class rep, the legitimacy of the entire class action may be compromised, potentially jeopardizing the success of the case itself. Any delay in ultimately connecting with the right plaintiff may lead to procedural delays, which can result in … … weiterlesen

Spellbook Raises $20M Series A Funding

Spellbook has announced their $20M Series A funding round led by Inovia Capital. Thomson Reuters Ventures, The Legaltech Fund, Bling Capital, Moxxie Ventures, Concrete Ventures, Path Ventures, N49P and Good News Ventures also participated in the round.

“​​We’ve been amazed by the explosive usage growth our platform has experienced, since launching Spellbook as the first generative AI contract drafting tool in 2022” shared Scott Stevenson, CEO and co-founder of Spellbook, “This raise marks a major milestone for our team, and is indicative of the market traction we saw in 2023. With the new capital, we’ll continue innovating within the legal AI sector, partnering with the most law firms of any generative AI that we know of –and more importantly, to continue delivering new value to our customers.”

Over the last seven months, since announcing its seed funding, Spellbook has grown its customer base … … weiterlesen

Evisort Launches Document X-Ray™

Evisort has announced the launch of Document X-Ray™ to help organizations fully customize their AI journey with responsible, generative AI for contracts. The result is flexible, in-depth, user-driven contract analysis optimized for individual enterprises of any size and industry.

The entry point to Document X-Ray is Evisort’s Conversational AI experience, which lets one ask questions about contracts in simple, natural language and get clear, reasoned answers. Ask questions like “What happens if we terminate early?”, “Are rebates or discounts available?” or “Can we charge for partial performance?” and their AI will provide answers.

Document X-Ray turns those same questions into AI models that run automatically across all submitted contracts or any subset thereof. It creates structured data points on the fly, so one can track precisely the terms an organization cares about and make informed, strategic business decisions … … weiterlesen

LexisNexis Announces Launch of Lexis+ AI Commercial Preview in Canada and the UK

LexisNexis® Legal & Professional, calling itself a leading global provider of information and analytics, announced the launch of the Canadian and UK commercial preview of Lexis+ AI™, a generative AI solution designed to transform legal work. Grounded in their extensive repository of accurate and exclusive Canadian law content and use cases, Lexis+ AI combines the power of generative AI with proprietary LexisNexis search technology that seamlessly navigates both English and French legal content. Results are always backed by verifiable, citable authority. Lexis+ AI is now generally available in the U.S., following a successful commercial preview in 2023.

Lexis+ AI technology features conversational search, insightful summarization, intelligent legal drafting, and document upload capabilities, all supported by state-of-the-art encryption and privacy technology to keep sensitive data secure. Conversational search simplifies the complex and time-consuming legal research process, … … weiterlesen

The New York Times Sues OpenAI and Microsoft Over AI Use of Copyrighted Work

The New York Times is suing OpenAI and Microsoft for copyright infringement, claiming the two companies built their AI models by “copying and using millions” of the publication’s articles and now “directly compete” with its content as a result.

As outlined in the lawsuit, the Times alleges OpenAI and Microsoft’s large language models (LLMs), which power ChatGPT and Copilot, “can generate output that recites Times content verbatim, closely summarizes it, and mimics its expressive style.” This “undermine[s] and damage[s]” the Times’ relationship with readers, the outlet alleges, while also depriving it of “subscription, licensing, advertising, and affiliate revenue.”

The complaint also argues that these AI models “threaten high-quality journalism” by hurting the ability of news outlets to protect and monetize content. “Through Microsoft’s Bing Chat (recently rebranded as “Copilot”) and OpenAI’s ChatGPT, Defendants seek to free-ride on The Times’s massive investment in its journalism … … weiterlesen

Robin AI Raises $26 Million in New Funding

The new year has started off with good news for the Legal Tech Funding Market: as demand for generative AI in the legal sector explodes, Robin AI, the AI-powered legal copilot, has announced that it has raised $26 million in new funding. The Series B round is led by Temasek, a global investment company headquartered in Singapore. Other investors include QuantumLight, Plural and AFG Partners.

Robin AI was founded in 2019 by Richard Robinson, a lawyer at Clifford Chance, and James Clough, a machine learning research scientist at Imperial College. It leverages the power of generative AI to automate and speed up the process of drafting and negotiating contracts, as well as extracting information from across entire contract repositories through simple search. Its legal copilot, available as a Microsoft Word add-in, can cut the time it takes to review contracts by 85%, allowing businesses’ legal teams … … weiterlesen

The 10 Best AI Training Courses for Lawyers

AI has become an integral part of today’s developments and even everyday life. However, mastering it is not always as easy as it might seem – especially in the legal field – which is why, after intensive research, we have compiled a list of the 10 best AI training courses and platforms for lawyers, legal professionals and students. This list is supposed to help anyone interested in extending their knowledge about the workings of AI and its possibilities in the legal context.

1. CS50 for Lawyers by Harvard University

This course is a variant of Harvard University’s introduction to computer science, CS50, designed especially for lawyers (and law students). Through a mix of technical instruction and discussion of case studies, this course empowers students to be informed contributors to technology-driven conversations. In addition, it prepares students to formulate technology-informed legal arguments and opinions. Along … … weiterlesen

Harvey Raises $80M Series B From Elad Gil, Kleiner Perkins, OpenAI and Sequoia

Harvey has announced that it has raised $80M Series B funding. Their Series B is co-led by Elad Gil and Kleiner Perkins with participation from OpenAI Startup Fund and Sequoia. The $80 million investment brings Harvey’s total funding to over $100 million and values Harvey at $715 million.

Harvey is grateful to its existing investors EladPatCharlieBrad, and Ian for their ongoing commitment and support, and looks forward to working closely with IlyaMamoonEverett and the rest of the Kleiner Perkins team. They also thank their customers for trusting Harvey for complex, sensitive work and for partnering with them in deploying generative AI to augment productivity and streamline workflows.

Over the past year, … … weiterlesen

Google Introduces Gemini – Its Largest and Most Capable AI Model

Google has announced the introduction of Gemini, the most capable and general multimodal AI model it has ever built.

Gemini is the result of large-scale collaborative efforts by teams across Google, including their colleagues at Google Research. It was built from the ground up to be multimodal, which means it can generalize and seamlessly understand, operate across and combine different types of information including text, code, audio, image and video.

Gemini is also their most flexible model yet — able to efficiently run on everything from data centers to mobile devices. Its state-of-the-art capabilities will significantly enhance the way developers and enterprise customers build and scale with AI.

Google has been rigorously testing its Gemini models and evaluating their performance on a wide variety of tasks. From natural image, audio and video understanding to mathematical reasoning, Gemini Ultra’s performance exceeds current state-of-the-art results on 30 … … weiterlesen

OpenAI – (No) Change in Leadership

Controversy, threats, and a glorious comeback – what may sound like the plot of a novel at first has recently become reality for OpenAI, a leading company in generative AI.

The initial transition

On November 17th, the OpenAI board announced that Sam Altman would depart as CEO and leave the board of directors. Mira Murati, the company’s chief technology officer, would serve as interim CEO, effective immediately.

In a statement, the board of directors said: “OpenAI was deliberately structured to advance our mission: to ensure that artificial general intelligence benefits all humanity. The board remains fully committed to serving this mission. We are grateful for Sam’s many contributions to the founding and growth of OpenAI. At the same time, we believe new leadership is necessary as we move forward. As the leader of the company’s research, product, and safety functions, … … weiterlesen

Nexl Secures $6.6M Series A to Modernize the Business of Law

Nexl, the all-in-one collaboration platform trusted by over 100+ law firms around the world has successfully raised $6.6M in Series A funding. The investment round was co-led by Shearwater Capital and one of Nexl’s existing investors, Australian-based B2B venture capital firm EVP, bringing Nexl’s total funding for 2023 to $10M. 

In 2021, Nexl made its debut as a revolutionary “no-data-entry” CRM, aiming to address the long-standing issue of inaccurate relationship data within the legal industry. However, the company soon discovered a series of ever more pressing challenges faced by firms across the world — essentially, collaboration across law firm departments. Recognizing the importance of overcoming this obstacle, Nexl set itself a goal to continue to evolve.

Over the past two years, Nexl has undergone a transformation. Fast forward to 2023, and Nexl continues to not only uphold its commitment to resolving relationship data problems for law … … weiterlesen

Slaughter and May Seeks Out Legal Tech Companies With Generative AI Focus for Legal Tech Programme

Slaughter and May is opening applications for the fourth round of the firm’s flagship legal tech programme, Collaborate. The programme is open to all types of legal tech products at all stages of development, but applications from products with a generative AI focus are encouraged. 

A number of legal tech businesses will be selected to join the 12-week programme, benefiting from dedicated feedback, support, skills sessions, mentoring and access to the firm’s network of industry contacts. Additional support will also be available from several of the firm’s international peers via the Collaborate Advisory Network, and the 17 companies it has supported to date via the Collaborate Alumni Network. 

Each cohort member will also benefit from access to the Slaughter and May Client Innovation Network. Established in 2021, the Network acts as a forum for members of in-house legal and legal operations teams to share ideas and experiences within … … weiterlesen

Aleph Alpha Raises a Total Investment of Over Half a Billion US Dollars From a Consortium of Industry Leaders and New Investors

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

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

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

Inflexion and Allen & Overy Partner to Drive Growth of aosphere Business

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

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

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

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

LexisNexis Launches Lexis+ AI, a Generative AI Solution with Linked Hallucination-Free Legal Citations

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

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

vLex Launches Major Upgrade to Vincent AI

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

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

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

Evisort Creates First LLM for Contracts and Launches New AI Engine

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

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

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

Clio Delivers Personal Injury Law Solution for Lawyers and Multi-Practice Firms

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

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

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

Darrow Raises $35 Million in Series B Funding to Expand AI Platform for Intelligent Legal Violation Detection

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

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

Darrow’s … … weiterlesen

“How to Build a Legal Tech Unicorn” – September 27th in Munich

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

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

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

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

Baker Botts Formalizes 60-Plus-Lawyer Artificial Intelligence Practice Team

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

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

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

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

In addition, Baker Botts is convinced it … … weiterlesen

Automated Compliance: German start-up Secjur expands into Switzerland

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

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

ABA Forms Task Force to Study Impact of Artificial Intelligence on The Legal Profession

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

The AI Task Force will explore:

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

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

Agiloft Launches AI Trainer to Empower Non-Technical Users

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

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

The Contract Network Announces $8M in Seed Funding

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

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

Filevine Launches ImmigrationAI to Simplify Paperwork

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

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

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

LexisNexis Acquires Case Law Analytics

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

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

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

LexisNexis Collaborates with Microsoft on Product Integrations and Generative AI Capabilities

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

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

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

Everlaw Unveils AI Assistant Powered by Generative AI

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

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

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

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

rightmart Group schließt Series B-Finanzierung in Höhe von 27,5 Mio. EUR ab

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

Finanzierung markiert Start einer Konsolidierungsstrategie

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

Knowliah Announces Strategic Acquisition by STP Group

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

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

The acquisition by … … weiterlesen

Hogan Lovells Launches Own Legal Tech Brand ELTEMATE

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

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

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

Thomson Reuters Signs Definitive Agreement to Acquire Casetext

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

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

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

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

Aderant Introduces AI-Powered Virtual Associate MADDI

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

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

UC Law’s LexLab Announces New Justice Tech Startup Program

LexLab, a center at UC Law San Francisco that focuses on law, technology, and innovation, is joining forces with gener8torVillage Capital, and the Justice Technology Association for a groundbreaking accelerator program supporting justice tech startups, according to a June 8 news release.

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

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

Lexion Raises $20M Series B Allowing the Company to Expand AI-Powered Contract Management Solution

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

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

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

TPG to Acquire Majority Stake in Thomson Reuters Elite

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

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

“We feel strongly … … weiterlesen

Slaughter and May Pilots AI Transcription Tool Designed for Legal Sector

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

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

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

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

Registration for CodeX Future Law is Open

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

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

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

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

You can register here.

For more information, visit … weiterlesen

ContractPodAi Introduced New AI Assistant ‘Leah’

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

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

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

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

Marketingstrategie für juristische Dienstleister

von Su Reiter

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

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

Beratung vs. Software: Die Rechtsbranche verändert sich

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

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

Impacts of SVB’s Crisis on Startups

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

Casetext Unveils CoCounsel, a AI Legal Assistant Powered by OpenAI Technology

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

Microsoft plans to invest $10 billion in ChatGPT

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

Litigation Analytics Platform Pre/Dicta Acquires Gavelytics

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 Secures $17M in Series A Funding to Expand Its AI-Based Contract Review Technology

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

You Can’t Have Legal GRC Optimisation Without Data Management Improvement

– 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

AI Contract Review Software Provider LegalOn Announces Expansion into the US

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

Terzo Raises $16M in Series A Funding for AI-Powered Contract Intelligence

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

Ireland’s Legal Tech Conference Will Take Place on 29th November

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

CLM Provider SirionLabs Announced Acquisition of Zendoc

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

Legal Innovation from the Startup Nation – ELTACON22 in Tel Aviv

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

CLM Platform Summize Secures £5M Series A Investment

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

Legal Innovators UK 3.0 is Just Around the Corner – And We Got Free Tickets for You!

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

Contractify and ClauseBase Join Forces to Offer a Complete Contract Lifecycle Solution

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

Shearman & Sterling Launches Legal Operations Offering

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

Online Dispute Resolution, Cybersecurity, and A Vault at ILTACON – An Interview with Mike Schuman, CSTO of Immediation

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

Legal Tech Funding in 2022 – Head in the Clouds, Feet on the Ground

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

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

Legal Innovators UK 3.0 – Join us on 10th and 11th of November 2022!

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

New Future Ready Lawyer Survey Finds Increasing Pressures on Legal Professionals as Pace of Change, Compliance Complexity and Talent Challenges Climb

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

The Bavarian Ministry of Justice and UnternehmerTUM Establish the “Legal Tech Colab“

(German version below)

Innovative momentum from Bavaria: The Free State of Bavaria, Germany, continues to invest in the Hightech Agenda and wants to take a leading position in the legal tech sector with a new support network for legal tech startups. On the initiative of the Bavarian Minister of Justice, Georg Eisenreich, the Bavarian Ministry of Justice and UnternehmerTUM have established the “Legal Tech Colab”. The Bavarian Ministry of Justice is funding the initiative with up to one million euros per year.

Bavaria’s Minister of Justice, Georg Eisenreich: “Also for legal disputes and legal services: People want convenient, simple and cost-effective solutions. Therefore, Legal tech is currently experiencing a strong boost. We want to take advantage of the opportunities of digitization and become a leading legal tech hub. That’s why I’m very pleased that we can give the starting signal for our ‘Legal Tech Colab’ … … weiterlesen

Contractify Launches AI Colleague for Contract Administration

The scale-up Contractify introduces its new AI feature, called Ada, to the general public today. Ada helps companies to register contracts three times faster and is therefore revolutionary for contract management. Contractify, as a Belgian scale-up, is now at the level of large international players when it comes to the use of AI. To highlight the time-saving AI feature, the company also gives all their employees an extra day off. 

Who is Contractify?

Steven Debrauwere and Herlinde De Buck started Contractify in 2015. As consultants, they began to help companies better manage their contracts. It soon became clear that no software was adequate for both their own needs as consultants and those of the customer. So they decided to take matters into their own hands and develop their own contract management tool, completely … … weiterlesen

ILTACON 2022 Reunited Visionaries, Lawyers, Legal Tech Enthusiasts, and Enterprises Successfully Again

This year’s ILTACON, organized by the International Legal Technology Association (ILTA), finally took place in-person again in National Harbor, Maryland USA, for over four days. More than 70 educational sessions, a well-staffed exhibition hall and plenty of networking opportunities made the 42nd ILTACON a successful event.

After kicking off ILTACON on August 21, the event gained momentum on August 22 with company updates from Thomson Reuters, Litera, and Microsoft, among others, as well as educational sessions on various topics related to legal tech. In addition, the Exhibit Hall was opened where many legal tech providers, other technology companies, and legal databases presented themselves, their products, and services. Attendees got plenty of time and space to network with each other and the company delegates, not only in the exhibit hall but also at lunch sessions, coffee breaks, and a cocktail party. This broad … … weiterlesen

Global Legal Forum 2022 – December 1st and 2nd in The Hague

Join the Global Legal Forum (GLF) at The Hague on December 1st and 2nd, 2022! The event brings together the whole legal industry, legal tech, blockchain and global legal practitioners, academics and GCs redefining the global legal industry.

GLF stated that this year over 500 of the most influential people in the Legal Industry will be coming to The Hague, with Partners, CEOs, Judges, General Counsels, Arbitrators, Law Ministries and Legal Policy Makers from around the world as well as some of the most promising legal technology firms, game changing companies in Law and innovators of law and justice systems among them.

This years conference will be structured in nine main tracks: Blockchain, Technology for Legal Industry, Dispute Resolution, Future of Law, Emerging Practice – Cannabis Law, Artificial Intelligence, Legal Education, Mediation, and Access to Justice.

If you strive for learning from … … weiterlesen

Immediation Raises Additional AUD$5 Million  from Institutional and Sophisticated Investors

Immediation, labelling itself the world’s leading digital dispute resolution provider, announced it has received AUD$5 million (USD$3.5 million) in further funding from a consortium of institutional and private investors, managed by Euroz Hartleys. This AUD$5 million comprised the second tranche of an $8.5M raising.  Immediation has now secured four institutional investors on its register, including Thorney Technologies, SG Hiscock, Wunala Capital, and Perennial Private Investments, the private capital business of major Australian investment management company, Perennial Partners. 

The capital will be used to continue the Company’s rapid expansion in the U.S. and EMEA markets and grow its global sales force to meet growing demand for its purpose-built legal technology.

“To secure this new funding in this market is a huge endorsement of our rapid expansion into new markets, leading technology and business plan,” said Laura Keily, … … weiterlesen

LexFusion Selects DISCO as E-Discovery Partner

LexFusion, a go-to-market collective of leading legal innovation companies, announced its selection of DISCO, a leader in AI-enabled legal technology, as its e-discovery partner. DISCO stated that the partnership will help accelerate digital transformation for corporations and law firms as the industry continues to embrace next-generation technology to reduce risk, enhance compliance, control costs, and ultimately, deliver better outcomes.

Joe Borstein, LexFusion Chief Executive Officer, said: “As legal professionals scale service-delivery capabilities, taking full advantage of the latest advances in technology is foundational. We must embrace new tools as we collectively confront a new wave of litigation, investigations, and information governance challenges in an increasingly complex landscape that is once again making ediscovery a focal point for meeting the legal needs of the enterprise.”

“DISCO stands apart in empowering legal teams to filter out the noise, focus faster … … weiterlesen

LexisNexis Has Acquired Caselex

LexisNexis has acquired the merger control intelligence provider Caselex. This acquisition stands in line with LexisNexis’ recent strategy comprehending the acquisitions of Parley Pro and Closd as well as the partnership with Josef.

LexisNexis told ArtificialLawyer that the acquisition is part of an “ongoing commitment to provide one place where lawyers can get the legal intelligence they need to advise their clients” and that with Caselex, LexisNexis can now offer “competition lawyers a truly integrated and differentiated suite of offerings”.

Caselex’ Netherlands-based core-team consists of six people, supported by about 40 editors, each having a background in competition law. Caselex declares to be the leader in merger control information, offering insight into market definitions. They have developed a client base consisting of over 100 leading national and international … … weiterlesen

ContractPodAI’s oneDPA Is Now Freely Available

ContractPodAi, provider of the AI-powered contract lifecycle management (CLM) product and ‘One Legal Platform’, announced that oneDPA, a standardized open-source data processing agreement, created in partnership with PwC UK and the greater Claustack Community, is now freely available.

With ever-changing data protection regulations across the globe, it is increasingly challenging and time-consuming for legal teams to keep up with changes. In response, the Claustack community came together to create a standardized DPA which takes into account data protection laws in various jurisdictions to ensure it’s globally applicable.

On participating in the oneDPA SteerCo, Darryl Chiang, Director, Legal, at Google said: “I wanted to be a part of the growing community of lawyers championing open-source contracts as the key to a better future where a broad … … weiterlesen