Legal IT catch up – My marketplace or yours?

It’s all about the marketplace, as Priori adds three big legal tech vendors to its roster; ALSP Factor launches partnership programme (aka marketplace) Factor Connect, and Prelimine LLC, the litigation-focused Microsoft Word application developer, announces a partnership with ‘app store for legal’ Reynen Court. Oh yes and Slaughter and May launches a new client innovation network, which isn’t a marketplace, but an interesting new network nonetheless.

First up, legal marketplace Priori is adding three new legal technology companies and legal services providers to its global roster. Traditionally Priori, which received $6.3m in investment in October 2020, has focussed on connecting in-house teams with the right attorney. However, Priori says that its clients can now access a range of legal technology options from the following companies:;new advadsCfpAd( 163652 );;new advadsCfpAd( 155475 );;new advadsCfpAd( 155474 );;new advadsCfpAd( 163652 );;new advadsCfpAd( 155475 );( window.advanced_ads_ready || jQuery( document ).ready ).call( null, function() {var $legalslider1803767372 = jQuery( “.legal-slider-1803767372” );$legalslider1803767372.on( “unslider.ready”, function() { jQuery( “div.custom-slider ul li” ).css( “display”, “block” ); });$legalslider1803767372.unslider({ delay:10000, autoplay:true, nav:false, arrows:false, infinite:true });$legalslider1803767372.on(“mouseover”, function(){$legalslider1803767372.unslider(“stop”);}).on(“mouseout”, function() {$legalslider1803767372.unslider(“start”);});});

LawGeex, for AI-powered contract review automation;

Factor, for complex legal work at scale; and

QuisLex for managed document review.

Clients will use Priori’s same structured RFP process to submit requests and can select whether they’d like to receive proposals from law firms, legal service providers, or both.

We’re told that Priori clients will have an opportunity to compare traditional solutions versus new legal solutions on a one-to-one basis using its platform.;new advadsCfpAd( 163901 );;new advadsCfpAd( 163650 );;new advadsCfpAd( 156117 );;new advadsCfpAd( 163901 );;new advadsCfpAd( 163650 );( window.advanced_ads_ready || jQuery( document ).ready ).call( null, function() {var $legalslider2000575982 = jQuery( “.legal-slider-2000575982” );$legalslider2000575982.on( “unslider.ready”, function() { jQuery( “div.custom-slider ul li” ).css( “display”, “block” ); });$legalslider2000575982.unslider({ delay:10000, autoplay:true, nav:false, arrows:false, infinite:true });$legalslider2000575982.on(“mouseover”, function(){$legalslider2000575982.unslider(“stop”);}).on(“mouseout”, function() {$legalslider2000575982.unslider(“start”);});});

“What we’ve seen at Priori is that legal departments don’t go in search of a law firm or legal technology provider—they go in search of solutions,” Priori’s CEO and Co-Founder, Basha Rubin, said. “Priori’s platform will now be able to drive even more value for our clients, as they can compare vetted attorneys, firms and law companies.” 

Elsewhere Factor announced its own inaugural partnership program, Factor Connect, which also aims to provide in-house legal teams with a vetted marketplace of products.

Factor’s partner programme includes five participating companies, whose tools, we’re told, Factor has thoroughly tested and validated.

Factor will work with:

Acadia, offering digitization and regulatory compliance services for financial services documentation;Agiloft, whose contract lifecycle (CLM) platform will be supplemented with Factor’s purpose-built IP for specific use cases;BlackBoiler for AI-powered contract markup;

Kira for AI contract review; and

Priori, which as we’ve seen above, is a marketplace for attorneys and now legal technology too.

“The need for meaningful innovation and advanced technology has never been greater, and the stakes have never been higher. Factor Connect was created out of a need to better address a broad swath of client problems. We are all stronger collectively than any one of us is alone,” said Varun Mehta, CEO of Factor.

“Coming together today is just the beginning – announcing our partnership program is also an open invitation to the market to come and work with us.”

Factor is a founding member of LexFusion, which also provides a collective of hand-picked legal tech companies.

Elsewhere, Prelimine LLC, the litigation-focused Microsoft Word application developer, has announced its partnership with Reynen Court. Prelimine’s main offering, LitKit, will now feature in the Reynen Court Solution Store.

The partnership will simplify law firm access to Prelimine’s solutions, including its Word-to-PDF redaction tool designed specifically for redacting briefs and pleadings and its automated exhibit numbering tool that cuts down the time litigators spend on drafting documents while minimizing the risk of errors. 

Jacob Field, the Co-Founder of Prelimine, said: “Reynen Court has quickly established itself as the premier marketplace for legal technology, and already introduces law firms and legal professionals to a great array of thoroughly vetted solutions.”

Lastly, it’s not a marketplace but an interesting new network nonetheless. Slaughter and May has announced the launch of a new client innovation network, which will act as a forum for members of in-house legal and legal operations teams to share ideas and experiences within the innovation and legal tech space, as well as test new technologies in collaboration with the firm.

Many of Slaughter and May’s clients have been facing similar innovation and tech challenges, and we’re told that through discussions it became clear they would value a network dedicated to tackling these issues.

Jane Stewart, head of innovation at Slaughter and May, said: “The world of legal tech is growing, changing and improving all the time, but there are common themes in the issues and challenges that we and our clients are facing. Through our Network initiative we can offer our clients access to the innovation expertise we have developed in house as well as some of the technologies we have tested and deployed, and in doing so we plan to build an industry network of like-minded individuals.”

Slaughter and May already has over 45 clients sign up to join the Network, including Bupa, Standard Chartered and Vodafone.

Caroline.hill@legalitlexicon.com

Leave a Comment

Your email address will not be published. Required fields are marked *