Two legal startups chosen by the ILTA UK Programming Team, share how their newly emerged business ventures are developing viable business models to meet a legal industry need or problem. Start Up's featured are:
Avvoka - Contract Automation - Avvoka is a cloud based contract creation, live-negotiation and analytics tool, founded in 2015 by two former corporate solicitors to bring efficiency to the way in-house legal teams and law firms contract on standard terms. The system provides for the rapid automation of contract templates by, unlike legacy tools, doing away with the need to use complex coding in Word documents. We empower customers to reach agreement in record time by allowing live collaboration on legal documents with colleagues and advisors, before negotiating directly in the platform with counterparties. Avvoka has a range of sophisticated reporting tools to allow legal teams to monitor where they’re seeing clause push-backs in their contracts, track revenue-hitting terms and compare individual negotiator performance.
Legatics - Deal Platform - Legatics is an end-to-end deal platform used by over half of the Chambers and Partners top global banking firms. The platform automates legal processes, including conditions precedent (CP) list generation, CP satisfaction, document tracking, issue tracking and bible creation in an online environment and provides transparency over progress.