Legal Technology Framework and Disruptors (2)
Examples of emerging disruptive legal industry technology companies or products include LexisNexis PatentSight for patent analytics; ADR Notable for alternative dispute resolution; Priori for crowdsourced or on-demand lawyers; ComplyRight for employment law; Broadridge for corporate formalities; Bestpractix for contract life cycle; and CPA Global for intellectual property. These and other technology disruptors are discussed below.
- PatentSight by LexisNexis is an analytics platform that provides a landscape and visualization tool for all patent details. It also allows lawyers to predict the behavior of examiners through patent analytics and adjust their prosecution strategies accordingly. It was featured in the National Law Journal as one of 2020’s Emerging Legal Technologies.
- Minesoft has patent analytics tools that visualize the existing landscape in one's area of interest, finds the key players and their strategies, and discovers emerging areas of interest.
- Derwent has a patent analytics team that combines analysis and research tools, IP expertise, industry knowledge, and data into reports that are reliable and decision-ready.
- Patent-Pilot is a patent analytics software that allows patent law firms to investigate competitors, partners, clients and their respective relationships.
- InnovationQ provides analytics and reports on competitive intelligence, market position and patentability for smarter business decisions.
- Relecura provides patent search and analytics solutions, portfolio management, competitor analysis, and trend tracking for all IP needs.
- Juristat has a patent analytics platform that provides monitoring and competitive intelligence to improve patent prosecution as well as the quality and quantity of patent applications.
- Patent Insight Pro is a patent analytics platform that is comprehensive and that "accelerates the time-to-decision for patent analysis activities."
Alternative Dispute Resolution
- Virtual Courthouse replicates the dispute resolution process in an online environment with experienced mediators and arbitrators, thus doing away with the constraints of time, costs and distance.
2. ADR Notable
- ADR Notable provides dispute resolution software that helps mediators with every step of their work including client scheduling and communication, file storage and note taking. It was featured in the National Law Journal as one of 2020’s Emerging Legal Technologies.
3. ADR Systems
- As part of their offering, ADR Systems can use videoconferencing software such as Skype, Zoom and CourtCall to provide remote dispute resolution services.
- Miles Mediation and Arbitration conducts alternative dispute resolution engagements such as mediation and arbitration through phone or video conferencing.
- Micropact provides alternative dispute resolution software to solve cases with the lowest possible time and cost investment.
- AbacusLaw is a practice management and account solution that handles alternative dispute resolution cases.
- Arbitration Resolution Services provides online arbitration so that disputes can be resolved without in-person meetings.
8. Vast Edge
- Vast Edge has online dispute resolution software that helps in faster resolution (within days) as compared to other alternatives which take years.
Crowdsourced or on-demand lawyers
- Priori gives clients access to a vetted network of practitioners for on-demand expertise without having to deal with the expensive infrastructure of firms. It was featured in the National Law Journal as one of 2020’s Emerging Legal Technologies.
- UpCounsel is a crowdsourcing platform with over 5,000 experienced lawyers where clients can get either one-time consults or entire freelance legal departments.
- Aggregate Law helps firms to find freelance lawyers that fit their unique needs.
4. Court Buddy
- Court Buddy matches clients to on-demand lawyers at a reasonable price.
- Consult.law gives clients a platform where they ask legal questions, get proposals from attorneys, then hire the right lawyers for their respective questions.
- Advocado allows both businesses and individuals to describe their legal concerns then get contacted by a lawyer that fits a particular situation.
- Montage Legal is a platform where freelance lawyers provide attorneys with project-based and contract legal consulting services.
- Hire an Esquire connects legal departments and law firms to "the best legal talent for their projects."
9. Flex Legal
- Flex Legal provides experienced freelance lawyers to assist law-firms lawyers at a reasonable cost.
- ComplyRight provides solutions and resources that help businesses to comply with employee-related laws. Their solutions include employee management, labor law compliance and tax information reporting.
- Workforce Software provides a breakthrough employee experience with solutions for human resources, workforce management, maximizing financial performance and operational efficiency.
- Rocket Lawyer provides human resource help for businesses including recruitment, employment contracts, business policies and employee management.
- Access provides recruitment, human resources and payroll software for law firms.
5. Open HRMS
- Open HRMS provides human resources software for law firms, which handles functions such as recruitment, attendance tracking and work laws.
- Broadridge provides end-to-end IPO services for law firms and their clients who want to go public.
- Envisual provides company formation software that helps firms to ease the load of handling large volumes of company incorporation.
- Nasdaq Boardvantage facilitates paperless board processes and reduces meeting preparation time significantly. It serves law firms among other types of companies.
- Clio helps lawyers and firms to manage their clients, cases and firms from the cloud.
- Carta provides board meeting management software that handles a variety of functions including document sharing and board approvals.
- Midaxo provides "a complete software solution for mergers and acquisitions and corporate development"
- DealRoom is a merger and acquisition life cycle management software that manages the full process on a centralized platform.
8. Zola Suite
- Zola Suite is a practice management software that manages different aspects of a law firm including tasks, documents, schedules, contacts and client portals
Contract Life cycle
- Bestpractix is a contract drafting and negotiation platform that gives lawyers an end-to-end toolbox for their contracting needs. It was featured in the National Law Journal as one of 2020’s Emerging Legal Technologies.
- Concord is a contract life cycle management platform that streamlines the entire process from negotiation to signing. It was featured in the National Law Journal as one of 2020’s Emerging Legal Technologies.
- Lexion is a contract management platform driven by artificial intelligence to provide insights on contracts. It was featured in the National Law Journal as one of 2020’s Emerging Legal Technologies.
- Outlaw is a contract management platform with a focus on the relationship aspect of contracts. It was featured in the National Law Journal as one of 2020’s Emerging Legal Technologies.
5. Parley Pro
- Parley Pro is a contract management and negotiation platform that deals with the entire negotiation process from start to finish. It was featured in the National Law Journal as one of 2020’s Emerging Legal Technologies.
- ContractWorks is a contract management software that helps in doing more with contracts using a smaller budget, smaller team and less time.
- ContractRoom is a contract life cycle management platform that provides an end-to-end digitized process which leads to faster closing of agreements.
- CMx ContractExperience is a contract management platform that optimizes the entire contract process.
- Contractbook Suits is a contract management platform for legal professionals that is centered on the clients.
Intellectual Property (IP)
1. CPA Global
- CPA Global has IP intelligence solutions that use big data for IP life cycle activities including idea generation, portfolio management and licensing.
- AcclaimIP helps IP law firms to make better patents, access competitor information and pinpoint a portfolio's most valuable patents.
- IPlytics offers comprehensive IP intelligence tools, whereby users can visualize data points, link and process several data sources, and get up to date information.