The legal tech industry is moving at such a fast pace and a big part of my job is to stay on top of it all. Legaltech Hub is my go-to resource for any research I need to do on new companies and products.

We want Casetext to be judged on its merits. Legaltech Hub levels the playing field, allowing attorneys and executives to objectively evaluate what we do.

At the Digital Legal Exchange, we work with the legal functions of some of the world's leading corporations to help them accelerate their digital transformation. Technology is a critical part of the toolkit. Legaltech Hub provides independent guidance and information to help corporate legal teams evaluate their options and inform their purchase decisions.

My Reed Smith colleagues and I have used Legaltech Hub to identify current providers of technology solutions. It is really helpful to view all the tools in one place, consistently categorised by solution type and key features.

Our involvement with LegalTech Hub has given us many leads and created speaking opportunities. The value of LTH goes way beyond a listing and leverages Nikki’s and Jeroen’s vast network.

A decade ago, it was reasonably easy to keep on top of what legaltech products were out there. No longer! Nikki, Jeroen, and team have built a comprehensive resource that legaltech buyers can use to find tech meeting their needs, and where vendors can get information in front of prospects at the relevant moment. Worthwhile offering from a respected (and excellent) group of people!

Fireman &amp; Company's clients expect us to be current on the latest innovative technology solutions. It used to be difficult to navigate the legaltech market and explore new tools and platforms. Legaltech Hub changed that - I now have one place to go where I can easily find all the information I need.

Lore Ai

Contract review software rapidly categorizes executed contracts, and is able to identify and extract clauses and discrete data points from contracts. These applications use machine learning and natural language processing technology to extract pre-defined data points. For example, a user may want summaries of thousands of commercial leases: the software reads the leases and prepares a summary of e.g., the names of tenant and landlord, the property address, the rent, the expiry date, the termination clause etc. If a datapoint is not predefined in the system, users are typically able to train the technology to recognize it, creating their own "models" for extraction. Companies in this category include Kira Systems, Zuva, eBrevia, RAVN Extract, Syntheia, ThoughtRiver, Luminance and others.

Contract Review

Data extraction software extracts datapoints from documents, including contracts. These applications use natural language processing technology and extract pre-defined datapoints. For example, a user may want summaries of thousands of commercial leases: the software reads the leases and summarizes the names of tenant and landlord, the property address, the rent, the expiry date, the termination clause etc. If a datapoint is not predefined in the system, users are typically able to train the technology to recognize it, creating their own "models" for extraction. Companies in this category include Kira Systems, Zuva, eBrevia, RAVN Extract, Eigen, Luminance and many others.

Data Extraction

This category covers all tools and solutions dealing with contracting, from end-to-end contract lifecycle management (CLM) to contract review, and contract management. All interactions of a company are underpinned by contracts making this one of the most important categories of legal tech. Alongside ERP systems for finance, CRM for marketing / business development teams, Procure to Pay for procurement, and HR management for HR, CLM is the fifth system of records touching all parts of a business.

Contracts

Data management solutions catering to the legal industry have proliferated as both law firms and in-house departments have come to realize (1) the wealth of data they have at their disposal and (2) the opportunities to be gained from properly leveraging that data. The solutions available run the gamut from analytics tools, many of which can be leveraged over both internal and external sources of data, to data visualization tools and tools that structure data and assist in the extraction of data from documents and other content types. Judicial or litigation analytics solutions such as Gavelytics, Lex Machina and Ravel by LexisNexis provide insights that support litigation strategy and early case assessment, while market intelligence tools provide analytics on external industry data. Data visualization solutions such as Brainspace by Reveal add value to eDiscovery, but generic tools like Power BI and Tableau, as well as newcomer Structura, allow for powerful visualizations and reporting across independent and discrete data sets. Increasingly, vendors such as Fastcase and Thomson Reuters have realized that law firms will pay for data APIs and sandboxes allowing them to integrate data to produce actionable insights. This is a growing space, with broad solutions allowing great flexibility, as well as niche areas such as IP analytics.