In an effort to streamline trust accounting and billing for legal practitioners, the State Bar of Texas has announced an exclusive partnership with law practice management company Smokeball. As part of this collaboration, all 111,000 members of the State Bar of Texas will now have free access to Smokeball’s trust accounting and billing software, Smokeball…
Raghu Ramanathan, who assumed the role of president of the Legal Professionals segment at Thomson Reuters in February, underscored the need for open benchmarking on AI performance in the legal sector. He articulated his belief during an interview earlier this week, emphasizing that such benchmarks are essential for both industry progress and customer assurance. Ramanathan’s…
Last week, global investment firm KKR announced its agreement to acquire a majority stake in Agiloft, a leading company in contract lifecycle management (CLM). Alongside KKR, growth equity firm FTV Capital will increase its current investment, while JMI Equity joins as a new investor, marking a substantial vote of confidence in Agiloft’s market standing and…
This has been a notable year for BriefCatch, a legal technology company devoted to helping legal professionals improve their legal writing. It started nine months ago, with the company’s raise of a $3.5 million seed round, continued with its rollouts of new products and features, and then to its formation of a legal writing advisory…
In a significant evolution for legal tech, Assembly Software has introduced NeosAI, a suite of AI-powered features embedded directly within its Neos case management platform. This launch, as discussed by CEO Daniel Farrar on the LawNext PR podcast, aims to enhance efficiency, streamline processes, and boost productivity for legal professionals. “NeosAI is designed to enhance…
Last September, two litigation-focused Canadian legal technology companies, CiteRight and Jurisage, announced their merger with the aim of combining CiteRight’s litigation drafting program with Jurisage’s AI technology. Now, the first fruit of that merger has been unveiled: CiteRight’s AI-powered tool, AI Insights by Jurisage. AI Insights is integrated into CiteRight’s existing platform and is designed…
Stanford University has released an augmented version of its earlier study on generative AI legal research tools produced by LexisNexis and Thomson Reuters, which found that Westlaw’s AI product exhibits a higher rate of hallucinations compared to LexisNexis’ offering. The original study faced criticism for omitting Thomson Reuters’ AI-Assisted Research in Westlaw Precision, a product…
In a strategic move set to reshape the landscape of legal technology, LexisNexis Legal & Professional announced today that it has entered into an agreement to acquire Belgium-based contract drafting company Henchman. The acquisition aims to integrate Henchman’s advanced document management system with LexisNexis’ resources to expedite document drafting processes. Henchman’s technology is renowned for…
KKR, the global investment firm, has recently announced its acquisition of a majority stake in the contract lifecycle management (CLM) company Agiloft. This transaction also includes additional investments from FTV Capital, an existing investor, and JMI Equity, which is joining as a new investor. The deal aims to support Agiloft’s continued expansion and innovation in…
Legal editing software company BriefCatch has bolstered its management team following last year’s successful seed round, bringing three experienced legal tech professionals into key roles. This strategic move comes on the heels of the company’s $3.5 million seed round fundraising effort, which founder and CEO Ross Guberman indicated would be used for team expansion, new…
In a strategic acquisition aimed at enhancing its online dispute resolution (ODR) offerings, the American Arbitration Association (AAA) has taken over ODR.com, a pioneer in ODR systems, along with its parent company, Resourceful Internet Solutions Inc. (RIS). This acquisition also includes Mediate.com, Arbitrate.com, and Ombuds.org, which are all part of RIS’s portfolio. The immediate priority…
Document management leader iManage and legal research company vLex have announced a new partnership aimed at enhancing workflow efficiency and knowledge management for law firms and legal departments. This collaboration blends the artificial intelligence (AI) and docket-monitoring capabilities of vLex with iManage’s repository of knowledge assets, client, and matter folders. At the heart of this…
Stanford University plans to augment its recent study on generative AI legal research tools from LexisNexis and Thomson Reuters. The initial findings revealed that these tools deliver hallucinated results in over 17% of queries, contradicting the companies’ claims of reliability. The preprint study by Stanford’s RegLab and its Human-Centered Artificial Intelligence research center noted substantial…
An early-stage startup, LexIQ, has opened its waitlist for corporate legal departments and law firms interested in its beta program. The company’s artificial intelligence (AI) software is designed to draft and review contracts in Microsoft Word. LexIQ was founded by Samarth Gupta, a computer engineer and data scientist formerly with EY, and Triet Leminh, a…
Since its inception in 2010, the nonprofit Free Law Project has been dedicated to making the legal ecosystem more equitable and competitive by leveraging technology, data, and advocacy. The project’s most widely recognized initiative is perhaps CourtListener, their flagship endeavor that amasses an extensive collection of court orders and opinions. Another noteworthy effort is their…
The 2024 Legal Trends for Solo and Small Firms report, recently published by law practice management company Clio, reveals an increased intent among solo and small firm lawyers to adopt artificial intelligence (AI) within their practice operations. While solo and small firms plan to leverage AI at a faster pace than larger firms, clients are…
In a move that will once again put the spotlight on the field of legal technology, nominations have opened for the American Legal Technology Awards. With categories recognising a wide range of accomplishments in the field of law, the awards promise to highlight the extraordinary strides being made in legal tech. 2024 brings with it…
Document automation software has become crucial for law firms that are aiming to simplify the creation of legal documents and optimize client-intake data. Choosing the right document automation software can, however, be a daunting task, considering the variety of options available. In a recent review of Gavel, a product previously known as Documate, software developer…
In recent months, technology-enabled legal services firm Epiq has made substantial strides in the realm of artificial intelligence (AI) and analytics, unveiling several innovative features built using Amazon Web Services’ powerful AI capabilities. The latest features incorporate a development paradigm for creating, training, and launching customized machine learning models as secure APIs for clients. This…
A novel product christened Transcript Genius is set to redefine how attorneys engage with transcripts. Through the power of artificial intelligence, lawyers can semantically probe vast libraries of transcripts, then conduct an interactive exploration of single transcripts to retrieve useful information. The tool was developed by Steno, a tech-savvy provider of court reporting services and…
The Legaltech Week Roundtable Panel, a forum for expert commentary and discussion on the week’s legal tech news, returned this week after being away last Friday. In a lively and occasionally irreverinent session, panelists shared a variety of insights, with some attendees providing an overview of the inaugural ILTA Evolve conference, a platform for legal…
The American Bar Association’s ethics panel spontaneously issued an ethics opinion on the usage of listservs by lawyers – a technology whose adoption is considerably declining. This has raised questions about the timeliness of the decision. Lawyers have been interacting with each other on listservs for around 30 years. One of the earliest and most…
As Aderant, a leading technology firm offering business and practice management software to mid- to large-sized law firms around the world, rolls out its Global Momentum user conference currently ongoing in Nashville, it has made a significant announcement. The launch of Stridyn, a novel cloud platform, is expected to be the bedrock for all the…
At the recent Global Momentum user conference, CEO of Aderant, Chris Cartrett, announced the launch of Stridyn. Stridyn, a single AI-driven cloud platform, unifies all of Aderant’s cloud products to harness the full potential of cloud and AI technology. Speaking on the launch, Cartrett stated, “We built Stridyn with the understanding that law firms want…
Open AI-backed, generative AI legal tech startup Harvey is setting new benchmarks in the legal tech industry. After a year of rapid growth and impressive milestones, the startup is ready to shift gears and expand its user base. Harvey, bolstered by a $5 million seed round in November 2022, and a subsequent $21 million Series…