legal tech company
AI Contract Review Startup BlackBoiler Bags Patents – But Are Patents Useful In LegalTech?
BlackBoiler, an AI-based pre-execution contract review start-up, has bagged four patents from the United States Patent and Trademark Office (USPTO). But, perhaps the bigger question is: are patents for legal tech companies of any real use (see below)? Profiled in Artificial Lawyer this September – BlackBoiler aims to reduce the time that lawyers spend reviewing and marking up documents such as NDAs, service agreements, and other high-volume contracts. One of the approved patents, is a'Method and System for Suggesting Revisions to an Electronic Document', which the company says is a core component of its pre-execution technology for contract analysis. The technology suggests revisions to a document-under-analysis (DUA) and is part of a family of three patents as well as additional patent applications claiming this method.
Legal Tech Company Seeks To Bring AI To Lawyers
Artificial intelligence programs are being used in more applications and more industries all the time. The legal field is an area that could substantially benefit from AI programs, due to the massive amount of documents that have to be reviewed for any given case. As reported by the Observer, one company is aiming to bring AI to the legal fields, with its CEO seeing a wide variety of uses for AI. Lane Lillquist is the co-founder and CTO of InCloudCounsel, a legal tech firm. Lillquist believes that AI can be used to help lawyers be more efficient and accurate in their jobs.
An AI Law Firm Wants to 'Automate the Entire Legal World'
Whether it's a new employment contract, a rental contract, or sale contract, it needs to be checked before signing. Everyone knows the struggle of working through the dreaded small print, searching for pitfalls hidden in the tiniest details, and trying to make sense out of the bizarre language of law. In fairness to the layman, contract review is also a hustle for lawyers themselves. In 2014, commercial lawyer Noori Bechor got sick of the fact that 80 percent of his work was spent reviewing contracts. He figured the service could be done much cheaper, faster, and more accurately by a computer.
An AI Law Firm Wants to 'Automate the Entire Legal World'
Whether it's a new employment contract, a rental contract, or sale contract, it needs to be checked before signing. Everyone knows the struggle of working through the dreaded small print, searching for pitfalls hidden in the tiniest details, and trying to make sense out of the bizarre language of law. In fairness to the layman, contract review is also a hustle for lawyers themselves. In 2014, commercial lawyer Noory Bechor got sick of the fact that 80 percent of his work was spent reviewing contracts. He figured the service could be done much cheaper, faster, and more accurately by a computer.
The AL Interview: Dr George Beaton – The Future of AI and NewLaw
Dr George Beaton is a partner in beaton and a senior fellow in Melbourne Law School, Australia. His published works include NewLaw New Rules – A Conversation About the Future of the Legal Services Industry (2013) and Remaking Law Firms: Why & How (2016). You have been a pioneer in research into NewLaw, what place does technology have in NewLaw? Is it central to its development? Just 18 months ago when I wrote Fresh thinking on the evolving BigLaw–NewLaw taxonomy little mention was made of the role of technology in NewLaw or BigLaw business model firms.