It’s no secret that much of the legal industry is build on reusable content. Most law firms have their own customized set of standard documents (like NDAs or Wills), but lawyers or associates still have to customize these documents by hand each time a client needs them drafted.
Lawyaw, part of YC’s Winter ’18 class, is building software to automate this process by letting lawyers turn previously completed documents into smart templates.
Here’s how it works: Lawyers can drag an already customized world document into Lawyaw’s platform and it will automatically use natural language processing to first figure out what sections need to be replaced, then actually fill in those sections with the correct personalized phrases and variables. For example, software will automatically detect and replace a client’s name, contact information, location, and even more complicated things like scope of engagement.
If a variable isn’t automatically detected Lawyaw lets users manually select it, which the software will remember for future uses. Currently the platform only identifies about 50% of all variables in a document (up from 10% when it launched), but of those detected the accuracy rate for autofilling correct information is 99%. So essentially the algorithm is optimizing for quality over quantity right now, but that should equalize as the natural language processing gets better over time.
Of course Lawyaw isn’t the only solution for automatically populating legal documents. But most other solutions use complex document customization that requires knowledge of conditionals, tags and syntax. Plus, the platform has a few other useful features like integrated e-signing and a directory of over 5,000 standard court forms that can be customized.
Lawyaw charges each user $59 per month or $39 if paid annually. Interested users can just sign ups themselves instead of having to be subjected to firm-wide demos or annoying sales reps, both of which are still the status quo for legal software.
So far over 1,000 law firms have signed up, with 900 lawyers actively drafting over 24,000 total documents to date.
from Startups – TechCrunch https://ift.tt/2HYqnRo