The 2018 edition of Dan Storbaek's Legal Tech Report covering top trends including AI, Blockchain, GDPR, chatbots, virtual courtrooms and more.

1. Trends in Legal Tech 2018
Dan Storbaek
November 22, 2017
SecurePrivacy.AI/LegalTechTrends

2. Legal Tech Trends 2018
Top 10 Trends for 2018
1. Blockchain time will come in 2018 4-6
2. Cloud technology as a security option 7-9
3. Increased performance tracking 10-11
4. More legal process outsourcing 12-14
5. Alternative billing models 15-17
6. GDPR and ePrivacy coming 18-23
7. Further AI advancements 24-31
8. More intelligent chatbots 32-33
9. Virtual courtrooms as a replacement 34-36
10. Smarter applications to reduce legwork 37-38
Market & Next Steps for Lawyers & Law firms
How Legal Tech is changing business of law 39-40
Risks facing lawyers and law firms 41-43
Where is legal technology heading? 44-46
Mapping the legal tech market 47
Legal tech deals & valuations 48-51
Legal tech startups in Nordics 52-63
Next steps for law firms 64-65

3. 681
Legal tech startups operate in the world as of November 2017
Source: https://angel.co

4. 1. Blockchain time will come in 2018
Smart contracts are just the beginning. It’s possible to build all sorts of apps on top
of the blockchain, and it’s more secure than existing technologies, which is what is
needed in the legal sphere. We see blockchain everywhere, but no ‘killer-app’
based on Blockchain yet exist.
Sources: The Balance, Forbes

5. Blockchain and smart contracts
● A smart contract is a self-executing contract. It contains electronic clauses that trigger
processes according to the terms of the contract. The blockchain provides a multi-verified
database of the transactions. A network of participants continuously update the database and
verify changes to the contract;
● A smart contract works through automated conditional performance. When a contractual
obligation is met, the corresponding obligation is triggered. A vending machine is a basic
example of how conditional performance works. When the buyer inputs money, the vending
machine automatically transfers the chocolate bar by physically releasing it to the buyer;
● Smart contracts allow the ownership of real assets to be controlled digitally;
● Smart contracts provide contracting parties with clarity on the terms of the agreement. The
terms of the contract are written in code (rather than legalese) and are accessed via an agreed
data source. Identical, dynamic copies of the contract are kept across the blockchain.
Amendments to the contract are verified by the computers of all participants, in accordance
with a ‘consensus algorithm’;
Sources: Burges & Salmon

6. ● Mizuho Financial Group, Mizuho Bank and IBM
Japan announced they are building a
blockchain-based trade financing platform for trade
financing. With the platform, Mizuho is aiming to
streamline trading operations and improve supply
chain efficiency;
● The timely and highly secure exchange of trade
documents is essential for stakeholders in the
supply chain ecosystem. Digitizing trade information
on the blockchain can help change the way
information is shared, infusing greater trust into
transactions to make it easier for parties involved in
the supply chain, including exporters, importers,
shippers, insurance companies, port operators and
port authorities, to share critical shipment data in
near real-time;
Mizuho Financial Group and IBM use case
Sources: IBM

7. 2. Cloud technology as a real security
option for lawyers
Due to concerns about preserving client confidentiality, lawyers will look for
cloud-based solutions with high security, with the goal being to improve the client
experience and generate additional revenue through efficiencies from technology
Sources: The Balance, Forbes, Thomson Reuters

8. Law firm cloud computing
● The tide has turned for law firm use of cloud computing. More than one-half (51%) of the 79 Am
Law 200 firms that responded to ALM’s 2015 Am Law-LTN Tech Survey answered “yes” when
asked whether they use cloud computing;
● Of the cloud computing use cases reported by Am Law firms, software as a service (SaaS) for
e-discovery and human resources (62%) predominated over other use cases, such as email
management (31%), storage (31%), billing (27%), IP practice software (27%) and productivity
applications (27%);
● The biggest challenges for law firms to shift computing resources to the cloud are allaying
security concerns (86%) and providing firms more control over their data (61%);
Sources: Thomson Reuters

9. ● Every client and matter in LegalWorks is a virtual
file cabinet to store, organize and manage
documents. Store documents to LegalWorks with
a simple drag-and-drop, or save directly from
Microsoft Office;
● Startup has a list of very useful features:
● Powerful Email Management
● Microsoft Office Integration
● Powerful Search
● Document Tagging
● Explorer-Style View
● Automatic OCR
● Manage Document Versions
● Document ID’s + Document Stamping
● Document Check-In / Check-Out
LegalWorks use case
Sources: Uptime LegalWorks

10. 3. Increased performance tracking in
a very high competitive market
Law is still about performance - how many clients you bring in, how much you bill.
Technologies today make it even easier to benchmark teams and ensuring certain
lawyers are always assigned to certain issues in which they most often win their
cases

11. 3 key benefits of legal tech tracking
● Reliability and Consistency of Information. Tracking technology allows you to separate
judgement, analyze your data and access to the “real-time” data, which is a must for law firms
nowadays;
● Capability of Processing Data: Size and Speed. You don’t need to work on your data
manually, as recent technological advancements can do the the heavy lifting for your firm. Firm
can save hours of manual labour and with quick data processing abilities of modern
technology, you can quickly see what is working for your firm;
● Visibility of Data and Metrics. Collecting data is important but displaying and interpreting
information is what you need eventually. For data to work for your law firm, it needs to be easily
understandable and digestible;
Sources: Client Chat Live

12. 4. More focus on legal process
outsourcing model
The legal industry is experiencing a global paradigm shift in the delivery model of
legal services. This new model, known as legal process outsourcing (LPO),
transfers the work of attorneys, paralegals and other legal professionals to external
vendors
Sources: The Balance, Forbes

13. LPO is booming
● LPO is a growing field: one research firm estimates that by 2020, the LPO market could be
worth $8.6 billion;
● In the legal field, law firms see tasks that used to fall to junior associates working in those
proverbial law firm basements—doing document review, for example—now being done more
efficiently and cost-effectively through outsourcing, and not just from offshore locations like
India and the Philippines, but onshore in the US and UK, or as a hybrid onshore/offshore
model, or even onsite;
● The scope of legal operations (or the management of legal departments) has ballooned over
the last decade, while at that same time the pressure is rising to contain and reduce waste and
inefficiency—and this shows no signs of slowing;
● While many people still think of outsourcing as “sending jobs overseas,” this is really not an
accurate characterization of how outsourcing takes place today. The focus is no longer solely
on reducing overhead. It now includes a holistic examination of processes with the goal of
devising the most efficient workflows to get work done;
Sources: Huffington Post

14. Implementing a corporate LPO solution
Role of corporate legal departments in the legal service delivery model
Sources: Deloitte

15. 5. Alternative billing models
Pressure to reduce legal costs has forced law firms to diverge from the traditional
billable-hours model which stifles innovation and reward inefficiency. New
alternative billing models such as fixed, flat, blended or capped fees are becoming
dominant.
Sources: The Balance, Forbes

16. Changing the underlying business and operating
model
● Many lawyers work using the traditional approach: billable hours;
● They screen documents one by one;
● Profit sharing agreements governing partnerships provide little incentive to invest in new
technologies;
● Many law firms are wary of implementing solutions that are still in development and that require
significant changes to workflows and hefty training investments;
● Today: imagine going through thousand of emails and documents to establish facts taking
months or even years to complete;
● Future: screen, analyze and interpret endless volumes of data in minutes or hours to complete;
Sources: Future of the law, Boston Consulting Group

17. Alternative fee arrangements
Reward good work, not inefficiency!
Flat/Fixed
Fees
Partial
Contingency
Pooling
clients
Increased
focus on
project
management
Sources: Rimon Law

18. 6. GDPR and ePrivacy issues
GDPR and ePrivacy will affect how you treat private data. While it originates from
EU, it will have global consequences and change how we treat data.
Sources: Info Law Group, PWC

19. GDPR
● The General Data Protection Regulation
(GDPR) is a regulation by which the European
Parliament, the Council of the European Union
and the European Commission intend to
strengthen and unify data protection for all
individuals within the European Union;
● The regulation was adopted on 27 April 2016. It
becomes enforceable from 25 May 2018 after a
two-year transition period and, unlike a
directive, it does not require any enabling
legislation to be passed by national
governments and is thus directly binding and
applicable;
● As companies begin the process of moving to
compliance with the new requirements, Member
States are busily considering the impact on
national data protection legislation;
Sources: Info Law Group, PWC

20. The GDPR’s focus on technology
● The GDPR focus on technology is much more
explicit than its predecessor, the Data
Protection Directive;
● Technology goal #1. Driving data protection
principles into technology, through
appropriate technical and organisational
measures;
● Technology goal #2. Ensuring the
technology environment can protect
individuals’ rights;
● Technology goal #2. Adopting a proper
approach to technology design and
deployment;
Sources: PWC

21. Secure Privacy use case
● Secure Privacy - is a powerful and flexible
solution to help make website compliant
with the GDPR regulation;
● It’s a small script or wordpress plugin that
easily can be installed in a company’s
website;
● It works beautifully on both mobile and
desktop. Fully integratable solution makes
you compliant across major platforms;
● Secure Privacy enables to visually
document when website visitors provides
consent;
● This ensures that a business can
document visitor consent at all time and
stay compliant;
Sources: Secure Privacy

22. ePrivacy regulation
● The new ePrivacy Regulation, which in January 2017 was published as a proposal text, aims to
be an update of the EU’s existing ePrivacy legal framework, more specifically the EU ePrivacy
Directive which goes back to 2002 and was revised in 2009, requiring prior consent regarding
cookies;
● The ePrivacy Directive and Regulation isn’t just about cookies. It concerns electronic
communications and the right of confidentiality, data/privacy protection and more. In other words:
personal data protection;
● The new ePrivacy Regulation of the EU also goes several steps further than the current laws
which exist as a result of the current Directive;
● Like its predecessor, the ePrivacy Directive, the upcoming Regulation foresees various rules on
spam and unsolicited electronic communications by other means such as SMS;
● The new ePrivacy Regulation is one single set of rules concerning all EU citizens and companies
but it also ‘inherits’ several principles and stipulations from the GDPR;
● The new ePrivacy Regulation was supposted to come into force by May 25th, 2018 (the same
date as the GDPR), but that looks unlikely. At the publication of this presentation, the date was
yet unknown.
Sources: I-Scoop

23. ePrivacy: benefits for citizens and companies
Sources: I-Scoop

24. 7. Further AI advancements
AI advancements are rapidly appearing with legal tech becoming more and more formidable.

25. Legal AI and ML landscape
● The promise of AI for lawyers lies in the
automation of previously tedious manual
processes that have not changed for
decades;
● The current applications of AI in legal
work includes drafting and reviewing
contracts, mining documents in discovery
and due diligence, answering routine
questions or sifting data to predict
outcomes;
● More than 40 companies are now
offering AI solutions—from removing
arduous contract reviews, to eDiscovery,
or even providing intelligence on where
best to try a case;
Sources: Law.com, Topbots

26. Contract review the help of AI and ML
● The average law department wastes a significant percentage of its available work hours on
reviewing contracts before they’re signed. In-house legal departments can spend 50% of their
time reviewing contracts even as basic as a Non-Disclosure Agreement, creating unnecessary
bottlenecks and slowing down business and deals;
● In contract review, AI engines can answer the question “Can I sign this?” within one hour or
less, reducing legal bottlenecks and shortening contract turn-around time;
● AI is a human-like legal issues spotter providing relevant information on contract terms,
therefore allowing lawyers to focus their review on the relevant segments of each contract,
saving countless lawyer-hours;
● Some big companies have created their own AI solutions – JP Morgan has created software
that does in seconds what it is claimed took their lawyers 360,000 hours to achieve;
Sources: Topbots

27. Legal Robot use case
● Legal Robot uses machine learning
techniques like deep learning to
understand legal language, then
compare the language with other
contracts to identify boilerplate vs.
custom, measure the complexity and
readability of the language, and identify
the responsibilities, rights, and terms of
an agreement;
● The information is presented in a way
that encourages exploration of the
contract. This allows people to quickly
interpret the components of the
contract, quantify specific risks, as well
as identify and resolve defects so
people can be more confident in what
they sign; Sources: Legal Robot, Angel.co

28. Contract due diligence with the help of AI
● Lawyers have a role to ensure contracts are not hiding obligations, other liabilities or legal
exposures. In addition, legal teams must also keep up to date with the ever-changing
compliance rules globally, from IFRS to evolving legislation such as Dodd-Frank;
● New AI players in the legal field are creating time savings of 20–40% on routine tasks.
Customers, of AI due diligence engines include some of the world’s largest corporations and
professional services firms. It is already being used to review billions of dollars in M&A
transactions and to extract and manage data of multi-national corporations in several
languages;
● Technology can ensure swift renewal of contracts or notify account owners of pending contract
expirations. Users can also create reports that show at a glance which contracts will expire and
in what timeframes;
Sources: Topbots

29. Kira Systems use case
● Kira is intuitive, easy-to-use software for
uncovering relevant information from
contracts and related documents;
● In January 2017 commercial law firm
CMS has signed an agreement with Kira
Systems for the use of its Kira machine
learning software;
● It includes integrated machine learning
models for a range of transaction
requirements, and can be trained by CMS
to handle reviews in a variety of practice
area;
● The tool can also identify different
clauses across a large volume of
contracts with a high degree of accuracy;
Sources: Kira Systems, Kira

30. eDiscovery
● Parties engaged in litigation are legally obliged to find and exchange all relevant documents
prior to trial. eDiscovery can account for as much as 70% of the cost of any legal action or
lawsuit;
● One eDiscovery expert and consultant, Jonathan Maas says the major potential of AI is
developing methods of increasing technical complexity to reduce the volume or to focus the
legal review team on the most potentially relevant documents;
● In one case, Maas claims that use of this technology saved the client £3.4 million of review
costs;
● The tools are simple to use, making litigation document management easier and more efficient,
allowing companies to manage more of this work in-house without resorting to outside counsel;
Sources: Topbots

31. 5 ways AI chatbots can help the legal industry
1. Easy Information Access & Management. A chatbot can be a perfect solution for saving time
and hassle, and analyze documents. The Q&A interface of a bot assists users to quickly get the
information they require;
2. Onboarding & Employee Management. A chatbot can be of significant help in carrying out
various administrative and HR related tasks in any legal organization;
3. Integration with Intranets. If your legal department uses intranet for internal communications,
then here’s a quick tip – integrate a chatbot into it;
4. Brilliant User Experience. The Q&A interface of a chatbot helps lawyers in cutting down all
the clunky text and overwhelmingly irrelevant data. By asking one question at a time, a chatbot
narrows down the exact data a lawyer is seeking in the shortest time possible;
5. Role of a Legal Advisor. Advancements in NLP have boosted the potential of chatbots.
Chatbots now understand the natural language of humans better and as a result can detect
longer phrases, wider terminology and more synonyms;

32. 8. More intelligent chatbots
Impressive advances in artificial intelligence technology tailored for legal work
clearly shows the appearance of more intelligent legal chatbots in the near future

33. DoNotPay use case
● An artificial-intelligence lawyer chatbot has
successfully contested 160,000 parking tickets
across London and New York for free, showing
that chatbots can actually be useful;
● Dubbed as “the world’s first robot lawyer” by its
19-year-old creator, London-born second-year
Stanford University student Joshua Browder,
DoNotPay helps users contest parking tickets in
an easy to use chat-like interface;
● In the 21 months since the free service was
launched in London and now New York,
DoNotPay has taken on 250,000 cases and won
160,000, giving it a success rate of 64%
appealing over $4m of parking tickets;
● Now chatbot can help to sue Equifax (after a
security breach) for up to $25 000 without a
lawyer;
Sources: The Guardian, The Verge

34. 9. Virtual courtrooms as a
replacement of expensive courts
Courts are expensive. With some great real examples in Canada and the UK, virtual
courtroom will become strong trend for 2018
Sources: Legal Tech Center, Clocktimizer

35. Virtual courtrooms await
● Governments, individuals and companies can save considerable money by moving courts
online;
● Notwithstanding reducing the burden on the state, online courts would also be more accessible
for the public;
● You can have your day in court from the comfort of your own home. Furthermore, online
dispute resolution is also available where necessary;
● Parties can reach agreements which are ratified by the court through a portal. Again, reducing
the case burden for the courts themselves;
● This trend is clearly already on the cards. The Civil Resolution Tribunal in British Columbia has
seen great success. The CCSR in the UK is paving the way for online courts;
● Similar initiatives can be seen in Australia, the Netherlands and the US;
Sources: Legal Tech Center, Clocktimizer

36. 4 keys to the success of digital justice
1. Scale is vital. A pilot of “video-enabled justice” undertaken in Camberwell (UK) in 2009 saw
defendants’ initial court hearings carried out via video link. Yet violent offenders, who are the
most expensive to transport, were excluded from the trial;
2. Processes and skills need to be up to the task. In the Camberwell pilot all the appearance
slots for the “virtual court” were manually administered, rigid 15-minute hearings, which
contributed to a low 64pc take-up. Technology needs to be used better, and administered by
staff with the skills to effectively brief participants;
3. Leaders of our police, judiciary and prosecutors need to embrace technology.
Traditionally – and rightly – fiercely independent, all the parties in our justice system need to
work harder and more collaboratively to speed the adoption of new technology;
4. Shared benefits approach. A perennial problem for the public sector is that investment by one
partner is required to benefit another;
Sources: The Telegraph

37. 10. Smarter applications to reduce
legwork
We are all using apps and services that allows us to sign documents digitally. In the
future client intake will be reviewed online, real time using endless amount of data.
Here, we are not only talking AI and machine learning, but the convergence of
technologies to improve the efficiency and overall experience.
Sources: Clocktimizer

38. Future of legal industry is with smarter
applications
● The legal sector is looking for a sophistication of its work. Now lawyers can use specific tools
like Docusign. Instead of having to print, sign and send in copies of contracts, you can emails
and digitally sign them. The document then arrives, signed, in your inbox in digital form;
● At the same time the process of client take is still the same. The review is handled by an entire
team, spending hours of manual work, which can be spent in courts or with other clients. In
near future this process can be done with real time checks, freeing up teams to do more high
value work. New projects could also be streamlined. Software could be developed to pre-fill
your folders with the required templates and structures;
● The convergence of technologies will create new opportunities, new startups and new
products. The ones who can reduce complexity to a simple application will rule the future of
legal tech.

39. 2. The Legal Tech Market &
Next Steps for Lawyers and Law Firms

40. How legal technology is changing the
business of law
● Increased price through legal outsourcing and online marketplaces;
● New legal technology solutions are digitizing data, solutions are getting access to exponential amount of
data, workflows are simplified and automated;
● Most companies have not rethought their underlying business model nor operation model;
● Up until now, technology in law has been a search for a greater efficiencies based on the same
underlying model of practice;
● Now legal technology solutions could perform as much as 30–50% of tasks carried out by junior lawyers
today, according to the Boston Consulting Group;
● In-house legal teams are beginning to outnumber lawyers in private firms;
● Virtual courts now take evidence and appearances by video connection every day;
● Online legal business delivery beginning to compete with more traditional forms of service delivery;
● Commoditization of legal services and legal process outsourcing is increasing (eg. use of computerised
systems for routine/repetitive tasks);
● Legal tech is changing an industry with the help of AI, ML, Blockchain, Chatbots and other technological
advancements;
Sources: Boston Consulting Group, The Law Society

41. The risks facing lawyers and law-firms
● Law firms failing to take advantage of legal technology, or that don’t adapt to the new realities it
presents, risk losing corporate clients to more forward-thinking law practices, at best.
● At worst they may go out of business entirely, replaced by the very vendors supplying legal-tech
products and services.
● Specifically, advances in legal tech will accelerate current trends in the decomposition and
outsourcing of legal work
● Some tech solutions are already targeting increasingly complex work in the legal value chain by
breaking it down into standardized, repetitive tasks that can then be automated or outsourced.
● Furthermore, tech solutions that foster more effective communication and online collaboration
are a further driver for outsourcing legal tasks, since documents can easily be shared, edited,
and reviewed by law firms’ outsourcing partners.
Sources: Boston Consulting Group, The Law Society

42. New and existing legal technologies
The most impactful legal technologies over the next 5 years
Source: Legal Support Network

43. Technology’s impact on legal firm efficiency
● Legal firms answered to a questionnaire on
technology’s impact on firm competitiveness;
● Blockchain/smart contracts, billing and
security received the smallest amount of
votes;
● Data analytics scores best in regards to
being equally about competitiveness and
efficiency;
● Mobile/agile working and automation techs
both scored very high for both qualities;
● Maximum votes for both competitiveness and
efficiency for machine learning and artificial
intelligence;
Source: Legal Support Network

44. ● Since 2011, Legal Tech has evolved to
be associated more with technology
startups disrupting the practice of law by
giving people access to online software
that reduces or in some cases eliminates
the need to consult a lawyer, or by
connecting people with lawyers more
efficiently through online marketplaces
and lawyer-matching websites;
● Legal tech has cut its teeth on
automating a range of standard legal
tasks, but it is moving toward supporting
more bespoke, specialized activities done
by lawyers;
Sources: Boston Consulting Group, The Law Society
Where is Legal Tech Heading?

45. Source: Boston Consulting Group
Legal Technology Framework

46. Global patent filing for new legal tech
services ● There has been a 484% increase in the number of
patents filed covering new legal services technology
globally in the last five years;
● 579 patents relating to new legal services technology
were filed worldwide in 2016, up from just 99 patents in
2012;
● The figures reflect the rise of alternative legal services
– such as virtual law firms – and the rapid expansion of
the online legal industry. This trend is in large part
being driven by businesses and individuals looking
beyond traditional channels for legal advice;
● The statistics also indicate a rise in the use of
technology and outsourcing by traditional law firms in
the UK, the U.S. and East Asia;
● Globalization has pushed a lot of the innovation
around legal services processes into the global arena;
● Patent boom in China and South Korea explains high
numbers of patent filing;
Country % of total patents
filed Globally 2016
USA 38%
China 34%
South Korea 15%
Rest of the world 13%
Sources: Forbes, Thomson Reuters, BBC

47. Mapping the legal technology landscape
Source: Thomson Reuters & Legal Executive Institute

48. Legal tech deals in 2016
● On an annual basis, deal count increased
by 12% in 2016 to 67 deals, even as
funding declined by 46% to $155M,
comparing from $289M in 2015;
● Notable deals in 2016 included an $18.6M
Series C financing to CS Disco, a
Houston-based, e-discovery software that
helps lawyers review documents at scale;
● Also of note was a $22M private equity
round to File & ServeXpress (also of
Texas), financed by Strait Lane Capital
Partners. Wusong Technology, an online
legal services platform headquartered in
Beijing, raised both a $4M Series A and
$17M Series B round in 2016;
Source: CBInsights

49. Quarterly global tech financing trend
● On a quarterly basis, deal activity increased
significantly through H2’16, with a combined
$106M invested across 46 deals. Deal
activity spiked in Q4’16 to 27 deals, the most
ever for a quarter;
● Notable deals in the fourth quarter included
the above-mentioned private equity and
Series B rounds to File & ServeXpress and
Wusong Technology, respectively, as well as
the $3.48M second tranche of Series A
financing to Casetext, and the $1.75M
financing to eBrevia;
Source: CBInsights

50. Geographical deal share
● Analyzing deal activity by continent, there
are several conclusions that run in parallel
to the deal stage analysis, with deals
becoming more diffuse across both stage
and geography as investments overall
went up. As deals spiked through H2’16,
investment activity spread across other
geographies besides North America;
● Between Q3’16 and Q4’16 North American
deal count was stable, however Europe
and Asia both increased their deal count in
absolute terms. In Q4, Asia and Europe
accounted for 45% of deal share, while
North America saw its share slip below
50%;
Source: CBInsights

51. Biggest investments in legal tech startups
13.05.13
Online legal services
platform Rocket Lawyer
raises $19 million
17.07.13
Anaqua, IP management in
the cloud, lands $100
million from Insight
17.10.13
Anaqua raises $25
million from Bessemer
Venture Partners
25.04.14
Clio gets $20 million in
Series C financing led by
Bessemer Venture Partners
03.02.15
Eris Industries
raises $70 million
Series A financing
28.07.15
Avvo raises $71.5 million
Series E financing
31.03.16
kCura (now Relativity)
raises $125 million
Venture funding
Source: Index, Crunchbase (Avvo), Crunchbase (Kcure)

52. Legal tech startups in Denmark
Source: Danske advokater

53. Legaldesk use case
Profile: Legal Desk enables to make own
legal documents online
https://www.legaldesk.dk
Founded: 2014
Funding: 3 rounds, undisclosed
Solution:
● Contract templates for companies and
consumers with fixed prices;
● More than 40 standard contracts;
● Private clients: wills, power of
attorney, family loan, lease etc.;
● Companies: foundation and
administration of a company,
employment contract, owner
agreement, NDA etc.;

54. Swifcourt use case
Profile: ‘make a deal with a smart digital
contract from Swiftcourt’
https://swiftcourt.com
Founded: 2013
Funding: 1 round, €500,000 from Seed
Capital
Solution:
● Swiftcourt for consumers and
business;
● Private individuals: digital contracts,
digital signing, dispute resolution;
● Business: swiftcontracts (flexible
digital contracts), swiftsign (signing
contracts) and swiftcourt (online
dispute resolution platform with
settlement and online arbitration);

55. Legal tech startups in Finland
Source: Finnish Legal Tech Forum

56. Fondia use case
Profile: innovative legal service provider
https://swiftcourt.com
Founded: 2004
Funding: unknown
Solution:
● Innovative legal solutions for
business;
● Company created a digital legal
database VirtualLawyer;
● The service covers the ten most vital
fields of business law – for example,
employment law, contracts, corporate
law, finance and dispute resolution;
● VirtualLawyer features 1,700 articles
written in Finnish and English;

57. TrademarkNow use case
Profile: legal technology powerhouse specializing
in intellectual property law
https://www.trademarknow.com
Founded: 2012
Funding: 3 rounds, $9.3 million in total
Solution:
● Intelligent, based on AI, web-based
trademark management platform that is used
by enterprise companies, law firms and
branding agencies for instant trademark
search;
● Products: NameCheck (trademark
searching), NameWatch (trademark
watching), ExaMatch (trademark
researching), Competitor Watch (trademark
intelligence), Portfolio 360 (trademark
management), LogoCheck (logo searching);

58. Legal tech startups in Norway
Source: Artificial Lawyer, Startupmatcher

59. Lawbotics use case
Profile: revolutionary new platform for
automating legal documents in a business
http://lawbotics.io/index.html
Founded: 2016
Funding: NOK1.5 million from Aschehoug
Solution:
● Lawbotics is currently developing a
knowledge management platform for
handling legal content;
● For companies, the core value the
platform provides is making distribution
of legal content more effective and
accessible within its organization, and
importantly, the company will be able
to re-use and improve legal content
more cost effectively;

60. Lovdata use case
Profile: private foundation created by the
Ministry of Justice and the Faculty of Law in
Oslo
https://lovdata.no
Founded: 1981
Solution:
● Court decisions are public in Norway.
However, for criminal cases, cases
involving minors, family cases
involving married or divorced parties
and disabled persons, country have
statutes that prohibit from publishing
the court decisions un-anonymised
● Lovdata is using a variety of AI
techniques, such as NLP and
machine learning, to crack this
problem;

61. Legal tech startups in Sweden
Source: LegalTech

62. Avtal24 use case
Profile: Sweden-based provider of online
legal services
https://avtal24.se
Founded: 2004
Funding: 2 rounds, SEK15 million
Solution:
● 50+ templates for private individuals
and companies (90 000 customers);
● Simplification of adding new services;
● Fixed price for online users;
● Built own CRM system;
● Pooling databases with insurance
companies and banks: ‘they know
everything about their customers’;

63. StartupDocs use case
Profile: free legal document templates for
Swedish startups
https://swiftcourt.com
Founded: 2015
Funding: unknown
Solution:
● In addition to the investment
documents (term sheet, subscription
agreement and shareholders’
agreement), startup also created a
founders’ agreement, employment
agreements, a guide to stock options
in Swedish startups and a guide and
template for unit economics;
Sources: Boston Consulting Group, The Law Society

64. ● Thanks to legal tech, law as a
profession will look markedly different
5 or 10 years from now;
● To safeguard their market share and
profitability in this new reality, big and
small law firms alike will need to
rethink key elements of their
business models to capture the
advantages presented by legal tech;
● Let’s have a closer look at how such
changes may play out for each type
of firm (big and small law firms);
1. Focus on bespoke tasks and
expand product portfolio!
2. Invest in legal tech and leverage
outsourcing!
Big law
firms
Small
law
firms
1. Specialize!
2. Leverage legal tech!
3. Offer fixed price!
Next Steps for Law Firms
Sources: Boston Consulting Group, The Law Society

65. A paradigm shift for legal firms
Sources: Boston Consulting Group

66. “The ones who will reduce legal complexity with legal
tech will rule the market of legal tech years to come”
- SecurePrivacy.AI