The legal industry so far hasn’t seen a lot of innovation and creativity. The use of technology until recently to has been minimal. However, seeking legal solutions and advice can be a very expensive affair. Startups are now entering into the legal field to bring about a change in this. Startups are going to be at the front when it comes to making legal solutions more affordable, accessible, and help the common man seek justice better.
Below are a few legal startups to look out for.
1. Luminance - This British legal-tech startup makes document analysis extremely fast and productive through the use of AI and Machine Learning algorithms. The great thing about the platform is that it works for any language and any jurisdiction. This technology saves lawyers an immense amount of time by conducting document searches and spots abnormalities in the text. A task that took a lawyer hours, now just takes a few minutes.
2. Farewill - Farewill is not for the lawyers but for the common man himself. Farewill as a startup is changing the way people deal with wills and death. It makes the process of writing wills easy and accessible. Since the entire process is done digitally through their website, legislative updates are automatically reflected on the wills. This service is extremely affordable and doesn’t require the presence of a lawyer. The cremation can also be arranged through the website.
3. Aalbun - Aalbun is a network-based intellectual property service provider, helping clients around the world file patents, designs, and trademarks. The startup works on an IP platform and AI patented software. It aims at improving the digitalization and efficiency of the IP service offerings for multinationals, IP firms, law firms, and technology companies.
4. Ravel law - Ravel law is a legal tech startup that exploits AI’s potential to its fullest. Ravel’s law offers an all in one software providing research, analytics, and data tools to investigate open source court documents to predict the possible outcome of a particular case. The software uses natural language processing combined with machine learning algorithms with the current and historical legal documents available at Public Access to Court Records (PACER). The software can find all relevant documents according to the judge, similar cases, or attorney. It can also make predictions on the possible judge’s decision based on their decision made in similar cases previously.
5. Priori - Priori calls themselves the global legal marketplace for in-house legal teams. They use data and technology to connect in-house legal teams with top lawyers from across the globe, thus saving companies huge amounts of money and time. Their client base mainly includes Fortune500 companies who seek legal support from boutique law firms that require specialized legal expertise, local counsel, overflow, or temporary support.
The above are examples of just a few of the startups that are toiling away to innovate within the legal system. There are several startups that are doing similar work. Legal-tech startups especially have been on the rise and are truly paving the way through for the use of path-breaking technology. But it is imperative they do not lose sight of cybersecurity integration to ensure justice is not jeopardized through hacks and malware.