Innovation Incubation: Slaughter & May Launches New Legal Tech Program
June 6, 2019
3 min read
What's going on here?
The magic circle firm has selected 6 start-ups for its first legal technology incubator, called Slaughter & May Collaborate.
What does this mean?
The companies that were chosen from 50 applicants to the firm’s program are:
Tabled – a platform which helps provide a full picture of team projects by assisting lawyers in managing projects and tasks. It automates workflows and assigns tasks to team members.
StructureFlow – a platform which assists lawyers and clients in visualising complex legal structures and transactions with ease.
Clarilis – a document automation tool designed to create complex legal documents without the need to amend existing precedents or templates first.
JUST: Access – a transcription and dictation tool which uses artificial intelligence (AI) and natural language processing to produce transcripts and related analysis.
Logiak – a platform that allows users with no previous coding experience to create complicated logic/rule-based systems. Users could, for example, create an app to assist in determining whether a particular law or regulation applies in a certain situation.
LitiGate – an AI-powered litigation platform that provides a bird’s eye view of each case and automates daily tasks.
What's the big picture effect?
Collaborate was created to assist a broad range of emerging companies in their development stage. It is led by Slaughter Partners Anna Lyle-Smythe and Nilufer von Bismarck, supported by innovation head Jane Stewart, knowledge head Alexandra Woods and senior technology lawyer Natalie Donovan.
The companies, under Slaughter’s wing, will be able to develop, test and expand their products. This is because Collaborate gives them access to the law firm’s clients, expert panels, dummy data for product testing, feedback, information security, collaboration spaces for development and a sandbox environment (a type of software testing environment that enables the isolated execution of software or programs for independent evaluation, monitoring or testing).
The 6 companies will also be given 2 mentors, one each from Slaughter’s knowledge and innovation teams and a lawyer from a practice area relevant to each company’s business.
Slaughter & May has a history of innovating with legal technology. The Magic Circle outfit tested and helped develop Luminance (an AI due diligence tool presently used by leading firms worldwide) and recently selected a third cohort of businesses to join ‘Fast Forward’ (its technology entrepreneurs’ program). The firm understands that LegalTech has the potential to change the way lawyers do things. By creating innovation hubs, Slaughter can explore tools which could increase the speed and cohesion of its legal teams.
Collaborate is the firm’s first legally focused technology incubator. However, Slaughter will not be providing the chosen 6 with legal advice. The program is instead aimed at pairing businesses in their early or mid-stages of development with clients like John Lewis, Vodafone, Santander, Standard Chartered and GlaxoSmithKline, to test the market, assess the companies’ products and gain support from ranked advisors on a client advisory panel.
As a result, the chosen 6 will be able to scale their startups and develop products tailored to each client they work with.
Collaborate will run for 3 months, so watch this space.
Report written by Evania D
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