Think about the last time you signed a manufacturing or sale deed or a franchise agreement. You probably wished to show it to a lawyer first.
Well, you're not alone. Around 80% of the businesses in India (and even more for the rest of the population) do not have access to effective legal support. LawTech or RegTech is changing that.
Legal Technology or Regulatory Technology is helping lawyers deliver not only legal service better and more efficiently, it is also helping us tackle regulatory and compliance burdens more effectively.
Artificial Intelligence, Cloud Computing and Blockchain all form part of LawTech but so do the Revolutionary software backed by field-specific algorithms. The market is rife with investors and innovators making LawTech accessible and Legal support cheaper and more convenient.
Today you can take out your phone and talk to a robot as if you’re actually talking to a human lawyer and this technology can guide you through basic legal solutions for a fraction of the cost. Questions like - is your creation capable and/or worth registration? or what is the basic Confidentiality agreement you should be signing with your development partner? The expertise here is the algorithm that was fed to this software and its ability to learn from real time interactions with clients and the internet.
While the more complex and bespoke legal questions will and should be answered by human lawyers, for as the intricacies increase, technology becomes less and less accurate. Remember the machine can only work on the data that it already has and a language model to learn from previous knowledge but it cannot solve complex legal problems that it has never encountered, at least not yet and not very well.
It fails to grasp the realities of human interactions for it has never experienced it. And law is simply structuring and formalising how humans interact with each other.
Just like how AI drawing tools miserably fail to draw 3D hands, for they have no concept of real hands in the real world, only images and our studies and documentation of hands. (I recommend this wonderful video that explains this Why AI art struggles with hands).
Today, our software can write basic trademark applications that our lawyers then fine-tune.
It can come up with basic contract drafts that our lawyers then tweak to suit our clients’ interests.
Our software is also helping us perform voluminous prior art searches and legal precedent research in shorter time and more accuracy to bring down the cost.
But we are most proud of our proprietary software that is helping our lawyers manage IP portfolios and Infringement with a single click.
All of this can now be done on a server instead of the conventional model where a few young lawyers would sift through volumes of data on computer screens for days on end.
Why should you pay our lawyers do grunt work when tech can do that for us and our lawyers can focus on maximizing the value and ownership of your property.
We are inviting the first few people to try out our services for free! The only return we ask is that you give us honest feedback on your experience and on our service. LawTech is relatively new, and the user is king. You could help us in better understanding you and we will help you conquer the changing market.
Join us as we embark on the biggest revolution this industry has ever seen and conquer the market with us.
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