Overview of Legal Analytics Startups

To do list

• data quality check
• identify startups in the legal analytics industry
• identify their products and business models
• replicate their products
• find our niche

Reflecting on Chantalle’s summary of her interviews with legal analytics startups

• Our business concept: Everyone seems to like our idea (credits to Chantalle). And our business concept is? It hasn’t been very clear to me until now. I feel like we had more than one good idea. After reading this email, however, I am getting a better sense. It is to predict when business will be sued or what type of business will be sued under what circumstances for what type of law suits so that we can help business better manage litigation risk.
• Information about business: The more we know about business who is in our court document data, the greater predictive power our service will have. Google Place (which provides information on business category) alone may not be enough. I’d like to dig further to see whether we could have more detailed and credible business information. Experian may be one possibility. See the link below. By the way, none of the data, including Google Place, is free. https://www.experian.com/business-information/business-information-c.html
• Data transformation: To this end, the unit of our analysis should be business not course cases. I will transform the data so that the row represents business instead of court case. Then, I will add business characteristics to the court document data.
• LN accelerator: Everyone seems to value his or her experience with the accelerator program. Although it will surely be challenging as we all have a full-time job, I am 100% behind Chantalle to keep pushing until we hit the wall. We should not just assume it could not be done.
• When to apply for the accelerator program: I like Eli Luzac’s idea. I think we should develop a specific product before participating in the program.
• Our enterprise’s name and website: I like the idea of having students design our website and name. I’ll talk to JongYoon who teaches graphic design. What a timing! The art department is with the I&E cluster now.
• Grant application: Yeah, let’s do it. What do you need from me?
• Credit Reallocation: This is for Chantalle and me. This is a lot of work, which will undoubtedly be time-consuming. We should consider applying a course release for spring 2019. The application deadline is September 15, 2018.

The list of legal startups in this report came from the first and second cohorts of the LexMachina’s accelerator program. https://lexmachina.com/media/press/lexisnexis-completes-its-first-accelerator-program-for-legal-tech-startups/ https://lexmachina.com/media/press/lexisnexis-announces-second-round-of-legal-tech-accelerator-participants/

After constructing the list of startups below, I noticed that not all legal analytics startups are about analytics. Quite a few startups provides services that streamline the complex legal process using advanced technologies. Therefore, I divide the startups into two groups: one that streamlines the complex legal process using advance technologies and another that mines data and help clients build winning strategies using analytics and machine learning. Note that the division is not always clear cut: for example, although JuriLytics doesn’t appear to use analytics and seems to only provide a platform that find critics in opponents’ expert testimony, it does help build a winning strategy rather than streamlining the process.

• Streamline process using technologies Visabot, Separate.us, Ping, JuriLytics, dealWIP, Lawcountability, ThreadKM,
• Build winning strategies using anlaytics Lex Machina, TagDox, Contract Wrangler, Medilenz, Vijilent, vTestify

Secondly, while a majority of the legal analytics startups provide services for law firms and lawyers, a few have a very targeted market that is broader than the law firms. I believe that the key to success of startups, by and large, is developing a product that has a clear and identifiable market. In this regard, I love the idea of Visabot, Separte.us, and Medilenz. They all have a huge market for their product. This is something that we should discuss in our upcoming meeting.

• Visabot immigrants
• TagDox businesses/lawyers
• Separate.us divorcees-to-be
• Ping law firms
• JuriLytics lawyers
• Contract Wrangler businesses
• dealWIP lawyers
• Lawcountability lawyers
• Medilenz health care industry
• ThreadKM lawyers
• Vijilent lawyers
• vTestify lawyers

Lex Machina

Lex Machina’s award-winning Legal Analytics® platform is a new category of legal technology that fundamentally changes how companies and law firms compete in the business and practice of law. Delivered as Software-as a-Service, Lex Machina provides strategic insights on judges, lawyers, parties, and more, mined from millions of pages of legal information. This allows law firms and companies to predict the behaviors and outcomes that different legal strategies will produce, enabling them to win cases and close business. https://lexmachina.com/

Visabot

Visabot is an AI-powered solution for streamlining U.S. visa process. https://www.crunchbase.com/organization/visabot#section-twitter

TagDox

TagDox makes reading and understanding of contracts and articles easier and faster by utilizing cutting edge Machine Learning and Artificial Intelligence. https://www.tagdox.com/marketing/about

Separate.us

Separate.us takes the stress, pain and high attorney fees away from your divorce by providing quick and easy online divorce services from just $99. https://techcrunch.com/2015/09/22/separate-us-wants-to-bring-divorce-online/

Ping

The first automated timekeeping solution for large law firms. Ping automatically builds a timesheet for the lawyer and analyzes time data for the firm. https://www.timebyping.com/

JuriLytics

JuriLytics Rebutl provides an easy and devastating method to obtain critiques of your opponent’s expert. By using top specialists who have researched and published in the field of interest, we provide multiple structured critiques to mold your winning strategy quickly. https://jurilytics.com/what-we-do

Contract Wrangler

Contract Wrangler uses advanced machine learning technology to uncover hidden data in business relationships and help clients maximize profitability and reduce risk. https://cw.contractwrangler.com/

dealWIP

Cloud-based workflow integration platform for complex legal transactions that provides a secure, frictionless and transparent environment for transactional attorneys and their valued clients to plan, manage, automate and streamline every element of their most important high-stakes corporate legal matters. http://www.dealwip.co/

Lawcountability

A cloud-based software platform designed to help lawyers network more effectively for their business and professional development. It is a cost-effective way to offer regular marketing and business-development training online and on-the-go. http://lawcountability.com/

Medilenz

AI powered technology at the intersection of legal and health care helping companies and law firms, for example, mine medical records for critical data and providing medical expert services to life sciences clients, addressing business and scientific needs. http://www.medilenz.com/

ThreadKM

A web-based, real-time legal knowledge management platform that allows lawyers and other professionals to securely and effortlessly build cases and work together. It combines the benefits of broad-based document and knowledge management with the precision of a purpose-built tool for lawyers. http://www.threadkm.com/

Vijilent

Automates people search for the legal industry. Data science company using machine learning to gather insights using social media data and working with law firms to harness the richness of that data and turn it into actionable knowledge. https://www.vijilent.com/

vTestify

A virtual testimony platform that is developed to leverage advances in technology to improve both the quality of testimony and the methods through which it is obtained. vTestify address the needs of lawyers, legal professionals, and above all the clients it serves, by tackling inefficiencies in the system through the use of technology. https://vtestify.com/