Legal Technology can be defined and bracketed in many different ways everything from contract management to document drafting to AI platforms. This type of technology helps to deliver legal services and support the legal industry through the use of software and advancements in modern legal techniques. The assumption is that these services are only used in Law firms, but they are also used in legal departments at big corporations along with there being a large prevalence in many accounting firms also.
COVID-19 was a major factor in how rapid growth of LegalTech over the past few years, with the legal profession becoming as digital as it ever has been before. Due to social distancing increasing working from home and remote working, it led to companies having to adapt to new working conditions and looking at LegalTech as a necessity rather than a luxury.
This year, the UK Economic & Trade Mission in London have organized an inaugural LegalTech Innovation Tour to Israel. Between Monday 5th September to Thursday 8th September, we will be hosting LegalTech professionals from law firms around the world on a delegation to explore the culture of LegalTech in Israel. It will be the first of its kind and a delegation we hope to have frequently in the years to come. Our delegation will not only be organizing B2B meetings, but its main aim is to highlight the progress that Israel has made in the LegalTech scene over the past 3 years.
Our agenda includes company visits to some of the Israel’s most successful and exciting tech companies in the space, which include the likes of:
Darrow – Darrow’s claim-mining platform monitors the deep web to surface legal violations, enrich their evidentiary foundation, and ultimately match them with legal professionals who can bring justice.
Litigate.ai – LitiGate is developing an accurate and timely claims analysis solution to assist litigators with their daily work. The company’s solution uses advanced text-analysis algorithms to compare opponents’ written arguments with past cases. LitiGate’s platform structures commercial and civil disputes from pre-action protocols, through mid-trial applications, to the appeals stage, focusing on the semantic DNA of the arguments and the nature of the circumstances.
LawGeex – LawGeex is an AI-powered contract review platform that enables businesses to automatically review and approve contracts. LawGeex enables legal teams to expedite review turnaround, ensure legal compliance, and increase overall operational efficiency based on the general counsel’s pre-defined checklist. LawGeex combines machine-learning algorithms, text analytics, and the knowledge of expert lawyers to deliver in-depth contract reviews that highlight any unusual, problematic, or missing clauses. It also provides statistical benchmarks that simplify the decision-making process for standard and non-standard contracts company wide.
Plus, we will be visiting an Israeli law firm and having a discussion with several peers in the LegalTech departments at many of the Israel’s biggest companies for a roundtable, providing insights on the current LegalTech landscape in Israel and how well modified Israeli legal firms are with new technology.
The trip will also see our delegates understand Israel’s innovation culture in general and meet with several new emerging start-ups (please see below) in the space also during a B2B meet & greet at Deloitte Catalyst’s offices:
Modulegal – ModuLegal`s digital platform adapts to legal work processes and enables work by using your own templates. Their friendly and easy to use modular capabilities provide you with a simple user experience. With ModuLegal lawyers save valuable work time. Instead of gathering and entering information manually into legal documents from clients, by using their system you can benefit from increased productivity and accessibility.
FirstRead – Firstread’s semantic search experience means that one simple query is usually all it takes to quickly find and export critical data points — not just words, but also phrases. In-line previews of the document provide real-time answers to your search, so you can get right down to working on the next step in your workflow.
DealSumm – DealSumm is a technology company that enables its customers to automatically, thoroughly, and rapidly abstract, manage, and report the provisions of their contracts, leases, and related documents across entire portfolios. DealSumm holds a broad portfolio of patents related to understanding, extracting, and extrapolating data elements in contracts.
Lexense – Lexense is focused on rebuilding the way justice is served. The company’s data-driven platform enables clients to more easily exercise their legal rights by unlocking access to the court system.
Verbit – Verbit provides vertical-built voice AI solutions, equipping more than 2,000 businesses and institutions with the tools they need to offer engaging and equitable experiences that not only meet accessibility guidelines, but make verbal information searchable and actionable.
The delegation is open to all lawyers in the field of technology and innovation, along with any companies interested in learning more about what Israel has to offer. We have created an agenda that outlines the specifics of each day and we would be more than happy to send it to you if interest (please see my contact details below for more details).
We really hope that we can not only highlight Israel’s character as a world-leader in technology, but also demonstrate that the country’s LegalTech sector is a lot stronger than most people think and is on the up for years to come.
For further information on our LegalTech Innovation Tour feel free to get in touch with Cameron Crowley ( email@example.com ) and any further inquiries on Israeli innovation, please contact your local Commercial Office.