Top Players in LegalTech Artificial Intelligence Market

 Posted on: Nov-2022 | ICT & Telecommunications

Innovative LegalTech Artificial Intelligence vendors such as IBM Watson and ROSS Intelligence are likely to emerge as leaders in the LegalTech Artificial Intelligence market during the forecast period. The large size of these companies provides them with the financial resources required to invest in R&D activities and expand their distribution networks worldwide.

Artificial intelligence (AI) is one of the most important emerging technologies, potentially transforming entire industries and society. The legal industry is no exception, with AI already beginning to change the way lawyers work.

There are several key players in the AI legal tech space, including start-ups, established tech companies, and law firms.

The Major Key Players Listed in Legal Tech Artificial Intelligence Market Report are Luminance Technologies Ltd., Everlaw, Judicata, eBREVIA, Casetext Inc., Blue J Legal, Lawgeex, Catalyst Repository Systems, LEVERTON, Lex Machina, Loom Analytics, Legal Robot, Inc., ROSS, Ravel Law, vLex.com, FiscalNote, Justia, and Knomos Knowledge Management Inc.

IBM has been a major player in AI for many years and has applied its Watson technology to the legal industry. Watson can be used for tasks such as contract analysis and due diligence.

As per recent studies published by the global research hub, the LegalTech Artificial Intelligence market is set to expand at a CAGR of 37.26% % over 2020–2028 and hit revenue worth nearly USD 44,535.27 million by 2028.

We will discuss some of the Key players operating in the LegalTech Artificial Intelligence market

Lex Machina

Company Details:

Headquarters - Menlo Park, U.S.

Year of Establishment - 2010

www.lexmachina.com

Company Overview

Lex Machina is a premier legal analytics provider, engaged in developing IP litigation data and analytics software. Lex Machina, Inc. operates as a subsidiary of LexisNexis Group Inc. Lex Machina is actively involved in designing and developing software that automatically captures every docket event and downloads key district court case documents. The company provides products to law firms throughout the U.S. as it offers a Software-as-a-Service Legal Analytics platform that creates structured data sets about lawyers, judges, parties, and IP litigation information for law firms and companies.

Loomanalytics

Company Details:

Headquarters - Toronto, U.S.

Year of Establishment - 2016

Website - www.loomanalytics.com

Company Overview

Loom Analytics is a Toronto-based legal data analytics company it offers an analytics-as-a-service platform for legal research. The company is providing business intelligence & data analytics tools for legal professionals in Canada by creating data mining and visualization products. The company announced its latest SaaS-based platform named Structure, in 2017 for commercial firms which helps them to mine their private claims and settlement data. Currently, Loom’s database covers Ontario, BC, and Alberta tort and contract law, though it is working on expanding into different jurisdictions and practice areas.

Justia Inc.

Company Details:

Headquarters - California, U.S.

Year of Establishment - 2003

Website - www.justia.com

Company Overview

Founded in 2003, Justia Inc.  It is headquartered in the U.S. It operates as a legal technology and media company. The company provides regulations, codes, case law, a legal blog, legal articles, and databases for internal users. It also offers blog & website development, and online marketing solutions for law firms, educational, public, and other socially focused organizations. The company is currently working on several free legal information projects involving Latin America and Mexico

FiscalNote, Inc.

Company Details:

Headquarters - Columbia, U.S.

Year of Establishment - 2013

Website - www.fiscalnote.com

Company Overview

FiscalNote, Inc. provides a platform for analyzing government risk. The company provides a platform for analyzing government risk. It offers a government risk platform that allows users to access and analyze every bill at every stage on their phones; and Prophecy that searches, tracks, analyzes, and forecasts legal and policy data. The company also provides Sonar that discovers new federal rules at their earliest stages, tracks their development, and receives an insightful analysis of any public comment periods; and Atlantis provides state-level regulations access and analysis to policy and legal professionals.

Catalyst Repository Systems

Company Details:

Headquarters - Colorado, U.S.

Year of Establishment - 2000

Website - www.catalystsecure.com

Company Overview

Catalyst designs, hosts, builds, and supports the world’s fastest and most powerful e-discovery platform. Catalyst delivers a breadth of services and integrated technology, from legal hold through production, that enables corporations and law firms to lower legal spending and take control of complex, large-scale discovery and regulatory compliance.


Casetext Inc.

Company Details:

Headquarters - Carolina, U.S.

Year of Establishment - 2013

Website - www.casetext.com

Company Overview

Casetext, Inc., is an automated legal research company. The company develops artificial intelligence (AI) research tools for lawyers and law firms that help them in providing information services to their clients. The company offers “CARA”, an AI-backed automated research assistant. The company’s clientele includes various international law firms such as White & Case LLP, DLA Piper, Fenwick & West LLP, and many more.


Everlaw

Company Details:

Headquarters - Oakland, CA, U.S.

Year of Establishment - 2010

Website - Oakland, CA, U.S.

Company Overview

Founded in 2010, and headquartered in Oakland, California, United States, Everlaw, Inc. is a legal technology firm providing a platform for document analysis to law companies, government institutions, and private firms. The company was formerly known as EasyESI Inc. and changed its name in April 2014. The company has additional offices located in London, United Kingdom.


Luminance Technologies Ltd.

Company Details:

Headquarters - London

Year of Establishment - 2015

Website - www.luminance.com

Company Overview

Founded in the year 2015, Luminance Technologies Ltd. is a London-based software company. The company operates through a diversified product portfolio majorly classified into due diligence, computer vision, document analysis, unsupervised learning, data visualization, artificial intelligence, and machine learning. The company is renowned for providing artificial intelligence solutions for the legal profession.


ROSS Intelligence

Company Details:

Headquarters - Palo Alto, CA, U.S.

Year of Establishment - 2015

Website - www.rossintelligence.com

Company Overview

ROSS Intelligence operates an online platform to provide legal research services. The Company builds artificially intelligent tools to enhance lawyers’ abilities. ROSS is an advanced legal research tool and was built by using IBM's Watson. It understands natural language legal questions and provides expert answers instantly, along with other relevant information.


eBREVIA

Company Details:

Headquarters - Connecticut, U.S.

Year of Establishment - 2011

Website - www.ebrevia.com

Company Overview

eBREVIA was founded in 2011 and is headquartered in Connecticut, USA. The company is a leading provider of law solutions incorporated with high-end technologies such as machine learning, natural language processing technology, and artificial intelligence. The company has a partnership agreement with Columbia University for extracting data, binging speed and accuracy for due diligence, contract analysis, and lease abstraction solutions.


vLex

Company Details:

Headquarters - Barcelona, Spain

Year of Establishment - 1998

Website - www. vlex.com

Company Overview

SAS Institute Inc. operates as a business analytics software and service company across the globe. The Company provides software applications including business intelligence, data integration, fraud management, financial intelligence, and IT management. The software is installed at over 83,000 business, government, and university sites across 147 countries.


Judicata

Company Details:

Headquarters - San Francisco, CA, U.S.

Year of Establishment - 2012

Website - www.judicata.com

Company Overview

Judicata offers tools that move beyond crude network search and enables lawyers to find quickly and contextualize precise, relevant authority. The company turns unstructured case laws into highly structured data. The company s technology organizes and helps make sense of high amounts of data and enables better legal decision makings.

 

 

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