JK-2 ENHANCED ALSP DVENDOR2JK-2 ENHANCED ALSP DVENDOR2

JK-2 Enhanced ALSP dvendor2

Overview

JK Overview Short Description

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.

Application programming interfaces (APIs) allow for the integration of applications and databases for the quick and secure exchange of information. Law firms have started recognizing the value of data to inform strategy, identify new business opportunites and bolster the quality of legal outcomes. Various vendors have consequently started offering APIs that allow firms to more easily access their data and integrate external data with internal data to achieve strategic goals. Thomson Reuters, vLex / Fastcase, and Lexis Nexis are some of the vendors selling data APIs.

RESOURCES

Official website

HEADQUARTERS

Algeria

LANGUAGES

Arabic,

Chinese,

Croatian

EXISTING CUSTOMERS

AA Thornton,

ABB,

Accenture,

Actinvision

OFFICES

Algeria,

Armenia,

Australia,

Belgium

REGIONS SERVED

Africa,

Latin America,

North America,

Global

SERVICE OFFERINGS

Contract Services

eDiscovery Services

Flexible Resourcing

Managed Services

Repapering

Latest Funding Round

Total Funding Amount

Services

CUSTOMER TYPE

Law Firms - 20-99 lawyers

Law Firms - 100-499 Lawyers

Average length of Engagement

Dedicated Resources for Service Offering

Full Time : 4

Part Time : 2

Service Description

JK Overview Service description lternative Legal Services Providers (ALSP's), often also referred to as law companies, provide a number of services that traditionally were performed by law firms or in-house counsel. In most cases this involves services that don't constitute legal advice and due to their nature cannot carry typical law firm rates. Early on most of the work that was performed by ALSP's was discovery work. As ALSP's matured, some started to take on certain work law firms wouldn't be involved in such as negotiating NDA's. ALSP's can do work at lower costs because of use of technology, better process and project management and labor arbitrage. Many delivery centers are based in low cost locations. Some law firms operate their own ALSP's as captives to the law firm. Companies in the space include Factor, Unitedlex, Cognia, Epiq, Axiom, Elevate. In January 2022, the Arizona Supreme Court granted Elevate an Alternative Business Structure (ABS) License, making it the first ALSP in the U.S. allowed to provide legal services.

Value Proposition

JK Value Proposition

Document management software helps users store and organize their organisation's documents. Important features include versioning, file sharing and access control. Typically document management solutions have been on-premise only but increasingly providers are moving their solutions to the cloud. In organizations that implement this software the document management system is the central repository of all client-matter related documents. Companies in this space include iManage, NetDocuments and Opentext. Many organizations also use Microsoft SharePoint.

Technology Partners

JK Technology Partners Document automation software helps a lawyer draft documents faster and more consistently. There are two types: 1. Q&A based where a user answers a series of questions (e.g., when drafting an employment agreement: name of employee, salary, non-compete yes or no and if yes for how long, place of work etc.) and the system inserts the answers into a template creating a complete document ready for signature. The industry standards for this are Contract Express and Hotdocs. Successful new entrants in the space include Avokka and Clarilis. 2. Clause-based document assembly: by selecting clauses, the user builds a document to their needs. Clausebase and Draftwise are examples.

Experience

Operating Since

2013

Specialists

JK Specialists NAME-1

JK Specialists NAME-2

NUMBER OF CONSULTANTS

Partners

JK Experience PARTNERS

Founders

Articles

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