Corporate Legal

Law Firms

Vendors and Service Providers

audience

Landscape Article

Evaluation Framework

Requirements Template

Business Case

Competitive Analysis

Pilot Guide

Thought Leadership

content type

Explore

Implement

Procure

phase

date

Advertising Law

Bankruptcy and Restructuring

Civil Rights

Conveyancing

Corporate

Criminal Law

Employment

Entertainment and Media

Environment and Energy

Family Law

Finance

Fintech

Funds

Government / Administrative Law

Health Law

Immigration Law

Infrastructure

Intellectual Property

International Arbitration

Investigations

Litigation

Neutral

Personal Injury

Privacy and Cybersecurity

Private Equity

Real Estate

Regulatory

Securities and Capital Markets

Transactional

Wills and Probate

practice area

Arabic

Bulgarian

Chinese

Configurable

Croatian

Czech

Danish

Dutch

English

Estonian

Finnish

Flemish

French

German

Greek

Hebrew

Hungarian

Icelandic

Indonesian

Italian

Japanese

Korean

Latvian

Lithuanian

Malay

Maltese

Norwegian

Polish

Portuguese

Romanian

Russian

Serbian

Spanish

Swedish

Tagalog

Thai

Turkish

Vietnamese

language

On Prem

Web App

Private Cloud

Cloud

deployment

Blockchain

GPT / LLM

Interoperability

Law Firm Product

Low Code

Open Source

Word Plug-In

attribute

Africa

Asia

Europe

Global

Latin America

Middle East

North America

Pacific

West Indies

regions served

Algeria

Argentina

Armenia

Australia

Austria

Belgium

Brazil

Bulgaria

Canada

Chile

China

Colombia

Cyprus

Czech Republic

Denmark

Egypt

Estonia

Finland

France

Germany

Greece

Guatemala

Hong Kong

Hungary

India

Ireland

Israel

Italy

Japan

Kenya

Lithuania

Luxembourg

Malaysia

Malta

Mexico

Mongolia

Mozambique

Netherlands

New Zealand

Norway

Peru

Philippines

Poland

Portugal

Romania

Russia

Serbia

Sierra Leone

Singapore

Slovakia

South Africa

South Korea

Spain

Sri Lanka

Sweden

Switzerland

Taiwan

Trinidad & Tobago

Tunisia

Turkey

Ukraine

Uruguay

Yemen

The complexity involved in managing trusts and estates has given rise to specific technology solutions to support lawyers and trust administrators. As digital assets become a more common feature of estate management, the demand for these types of solutions is growing.

Trusts and Estate Management

Legal point solutions solve narrow but critical problems that frequently occur within specific matter types. Unlike broader solutions, these tools are not meant to address multiple pain-points or to support end-to-end workflows. Instead, they address a single pain-point, such as the need to manage cap tables - which Carta addresses - or to verify claims made in a prospectus document, a need which both Atticus and Scribestar address. In spite of their narrow applicability, point solutions can be valuable investments where the pain-point in question affects a particularly busy or critical practice.

Legal Point Solutions

Prospectus Drafting and Disclosures

Corporate Meeting Management

In particular in venture capital and privaty equity transactions, keeping track of the various different classes of stock and notes is a challenge. Cap table management software helps companies and law firms to keep control of who owns what shares, issued in which round. Investors can see their entire holdings across different portfolio companies. Often times captable management software incorporates some form of equity valution offering (in the US 409A valuation). Companies in the space include Carta and LTSE Equity.

Cap Table Management

In capital markets practices, prior to a debt market offering an auditor will write a comfort letter to the underwriters confirming the financial soundness of the issuer. In order to highlight aspects of the offering documents that require auditing (or "ticking and tying") for the purposes of a comfort letter, the underwriters' counsel will circle all of the numbers in the documents that require ticking and tying. This process is called the circle up, and it is generally a manual time-consuming process as the numbers can be appear in the documents either numerically or alphabetically. Solutions have been developed that introduce automation to the circle-up process by highlighting each number in a prospectus document and guiding attorneys through those numbers in a way that enables them to more rapidly highlight those that require auditing. The leading point solution is SignedOff, though Scribestar is also developing circle up automation capabilities.

Circle Up Automation

Previously, many commercial legal organizations relied on external translation services to help translate critical deal or litigation documents written in a different language, for example in the context of cross-border work. Risk and liability issues arise when lawyers resort to using public translation sites online to translate documents relevant to a privileged legal matter. In addition, these sites are generally unable to translate large numbers of documents at once, or to retain the formatting of the original documents. With the development of advanced AI technology, digital translation solutions have emerged that are able to translate large numbers of complex legal documents into multiple languages with great accuracy, retaining original formatting. Leading vendors in this space include RWS (previously known as SDL) and Veritone.&nbsp;

Digital Translation

When forming private equity, venture, real estate or hedge funds onboarding investors (Limited Partners or LPs) is a time-consuming administrative task. Collecting copies of IDs, tax information, eligibility status as investor, and sharing information with general partners and/or fund administrators is a time consuming inefficient process without a software solution. Repeat LP's have to provide the same information every time they invest in a new fund. Software such as Anduin Transact, PassThrough and Fundformer address these painpoints. Some law firms have built their own solutions based on tools like Bryter and Neota Logic. Some of these internally developed tools go beyond onboarding and also cover side letter drafting and most favored nations clauses. This category only covers the specific solutions built for fundraising rather than generic low code tools.

Fund Formation

Entity management software helps companies maintain their legal entities in good standing. Many corporations have tens, if not hundreds, of legal entities, often all over the globe. Making sure that the relevant filing obligations are met, the taxes are paid and director appointments or resignations are reflected in the relevant public registries is hard. Entity managment helps with this task. Athennian, Diligent and Klea are companies with an offering in this space amongst others.

Entity Management

An equity valuation is an independent 3rd-party assessment of a company's value. In the US these are called 409A valuations. Carta and LTSE Equity offer these as part of their Cap Table Management offering. Scalar and Shareworks offer specialist services.

Equity Valuation

During the disclosure process in an initial public offering, each material statement made in the prospectus must be referenced back to a verifying source document to ensure its accuracy. This lengthy process is often identified as a practice pain-point. The solutions that have developed to address this pain-point streamline the verification process by identifying and enabling intuitive assignment of material statements, the ability to easily upload documents and to generate instant verification reports. Atticus and Scribestar are category leaders.

Legal Verification

The beginning of most corporate transactions will involve the creation of a structure diagram to depict relationships between entities. These types of corporate structure diagrams are also commonly used in investigations practices and as visual aids during litigation, and tax lawyers require structure charts to illustrate the tax liabilities for entities during most corporate legal work. Solutions such as Jigsaw and Structure Flow have been developed in response to this need, and are in use across many large firms, where they can reduce the time required to create complex diagrams from hours to minutes. Additional use cases include the creation of organizational charts for employment law, and the illustration of real estate holdings and financings.

Structure Diagrams