TOP STORIES INCLUDE: • eSentio sues HBR Consulting over NetDocuments swap out at Akin Gump and King & Spalding • Contract risk analysis platform ThoughtRiver raises over $1million in funding • RBRO says its business as usual in UK for iManage customers after departure of senior execs • Workshare says we won’t be beaten by the competition on speed or accuracy
AND welcome to the Insider’s new (and FREE to read) Legal Tech Startup Directory – 18 pages of listings and analysis on over 50 innovative companies who have broken with the law firm herd mentality and are set to change the face of legal practice in the UK, Europe, US and APAC regions. You can also discover which startups describe themselves as “Just Eat for Lawyers” and “LinkedIn meets Tinder”
In March, document and workflow collaboration platform ClauseMatch gained the full attention of the FinTech sector after Barclays signed up with the startup, which took part in Barclays’ accelerator programme. Focussed on overhauling the contract negotiating process, it should also be on your radar. Here, ClauseMatch, which is in Legal IT Insider’s brand new startup directory out this week (note: Thursday 27 April), tells us more about how the platform works and who is behind it.
French-founded online legal document generator Wonder.Legal has launched in the US, targeting both businesses and individuals with the promise of instant letter, contract and agreement creation and taking on established players Rocket Lawyer and LegalZoom on price.
Self-labelled as the “task rabbit for law firms and in-house counsel”, F-LEX provides law firms with on demand paralegals through a set of web and mobile apps. Founded by a trio including Legal Geek founder Jimmy Vestbirk, F-LEX is notably providing paralegal resource to a law firm to supervise their AI software.
Encompass Corporation and ComplyAdvantage will today (11 April) announce a new partnership, in a combination that will apply artificial intelligence and traditional data sources in order to combat money laundering.
Described in its marketing material as ‘wills for the 21st century’, Farewill promises you can make a new will in 15 minutes and has some heavyweight financial backers (think founders of Zoopla and Wonga) to help it disrupt the conventional will writing sector. So far available only in England and Wales, it has plans to expand to Scotland. Interestingly, its founders say that the ease of making a will is beginning to change will writing behaviour, with more people making bequests to friends.
Thomson Reuters has teamed-up with Legal Geek to help advance innovation and collaboration within the LawTech startup community. The move follows Thomson Reuters support for the Legal Geek startup map and the inaugural and highly successful Legal Geek conference held in London’s Brick Lane last year.
Today sees the official launch of a free legal tool that allows users to create legally binding Non-Disclosure Agreements (NDAs) in less than 7 minutes at absolutely no cost. By asking questions about the users’ needs, LISA intelligently drafts the document while helping them understand the legal and commercial principles on which it is based. LISA is also the first law robot to provide unbiased and objective assistance to both parties, allowing users to avoid having to engage traditional human lawyers on either side.
Allen & Overy’s announcement on 28 March that it is to launch a technology innovation space within its City office is one of the most extensive commitments to new and emerging tech that the market has seen from a law firm to date. We catch up with A&O partner and Fuse chairman Jonathan Brayne to find out more about the business model behind it.
LexisNexis has selected the first five participants in its new Silicon Valley legal tech accelerator program, which was created to give startups a leg up in the rapidly expanding legal tech industry.
Welcome to the latest issue of the Legal IT Insider newsletter – March 2017 – Issue #301. Top stories include… End of an era as Tikit and iManage part ways after 15 years: customers exit stage left to applause from Tikit competitors + In-house Legal: Barclays invests in new tech to rationalise bank’s external legal spend – one law firm has now had its invoice rejected 47 times! + Big Law: Slaughter and May has stake in AI business & Freshfields launch innovation group + Gleneagles Legal Leaders Forum: we have a full report on what corporate clients think about law firms + Mike Lynch on investing in Machine Learning tech companies: the real world is full of “noise” – non-meaningful data
As part of a two-month startup initiative here is another of our more grown up startups. Encompass Corporation was founded in 2012 (2015 in the UK) and automates know your customer policies to ensure regulatory compliance.
Briefed is a mobile practice management system for barristers launched in 2014 by barrister Orlagh Kelly. Here, Kelly describes the company’s journey from concept to winning its first customer 10 minutes after launch. Barristers are often, much like the rest of the legal profession, resistant to change. But Kelly says that using apps to help save time in their personal life means they are increasingly open to new technology at work.
Dentons has partnered with the business accelerator Startupbootcamp. As a part of the partnership, Dentons will provide support in accelerating 20 high-potential startups in the digital health sector over the next two years. The program will support innovative startups that combine medical knowledge with smart technologies, with a special focus on behavioral change, diagnostics and genomics, big data and analytics.
BI and data analytics provider DW Reporting launched in January 2013 and is one of the more established players in our startup focus. Here, in the most comprehensive of profiles, founder Dan Wales talks Formula One analogies, growth strategy, restructuring, what ‘DW’ stands for, data, AI and what temperature the office beer fridge is.