Most Popular LegalTech Products 2022
In the growing world of technology, the law has played catchup with technology to ease its functioning and processes. Processes that are monotonous and consume maximum manual labor with no use of intellectual knowledge are substituted with legaltech. The wave of legaltech has already begun and we would like to state a few products that have dominated the market globally.
1. LexisNexis
Market: Legal & Professional Solutions; Risk Solutions by providing research materials.
- Lexis+ (Facts and Issue finder of cases);
- Nexis (news archives);
- Lexis (Research tool for legal, news, and public records)
- LexisNexis IP Solutions (Patent analysis and research)
- Automated Forms and many more[2]
2. Westlaw
Market: Legal Research
Products:
- Westlaw Edge (AI-powered intelligent document analysis, legal search engine, litigation analytics)[4];
- Westlaw Classic (Access to legal content)[5]
3. DocuSign
Market: Digital Signature- allows organizations to manage electronic agreements by saving their e-signature on the cloud.
Product:
- DocuSign (Security of your digital signature)
4. Relativity
Market: End-to-end legal and compliance software; e-discovery
Products:
- Translate in RelativityOne (translation of legal documents to 100+ languages)
- Text IQ (AI that solves legal and data privacy challenges)
- Collect for iManage (Integrates files and emails)
5. Ebrevia
Market: eBrevia provides its customers with contract analysis, due diligence, LIBOR remediation and lease extraction within a contract and document analytics platform.
6. Sign Desk
Market: Create documents with templates & sign pdfs with certified eSignatures to lower TAT by 99%
7. Josef
Market: Legal bots, and automated contracts
Products:
- Legal bots, automated contracts, automated emails
8. SoOlegal
Market: Platform to register lawyers and firms
Service:
- Provides lawyers according to their needs.
9. Assembly
Market: Compliance management
Products:
- Assembly Trailworks (compliance management- processes automation, and effective communication)
- Assembly Neos (case management platform)
10. MikeLegal
Market: AI-powered compliance management and IP management
Products:
- Mike DocReview (Automated Contract Proofreading and Formatting Tool) – AI-powered MS Word add-in used for correcting, formatting and proofreading issues.
- MikeIP Suite
- MikeTM Watch (Automated Journal Watch) is used to identify infringement across 45 classes using AI and automates weekly journals.
- MikeTM Search (Automated TM Search Synced to IPO) is used to search trademarks across all 45 classes using AI.
- MikeIP Manager (Automated IP Portfolio Management) is used to stay updated with all the upcoming deadlines on their portfolio.
This list has been compiled by Mansi Agarwal, during her internship with MikeLegal.
References:
[1] https://www.lexisnexis.com/en-us/gateway.page
[2] https://www.lexisnexis.com/en-us/products.page
[3] https://legal.thomsonreuters.com/en/westlaw
[4] https://legal.thomsonreuters.com/en/products/westlaw-edge
[5] https://legal.thomsonreuters.com/en/products/westlaw-classic
[6] https://www.docusign.com/en-in/
[7] https://www.relativity.com/
[8] https://joseflegal.com/product/
