Innovation Despite Regulation
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Regulation can both help and hinder innovation in the legal industry. While regulation establishes professional standards and protects consumers, it can also create barriers for new types of legal services. However, the number of legal technology startups has grown significantly in recent years, with over 1500 legal startups now identified and many receiving substantial funding. Some legal tech companies that have received large funding rounds include AirHelp, Logikcull, and Notarize. Austin has also emerged as a hub for legal startups and organizations supporting legal innovation.
Innovation Despite Regulation
- 2. How does regulation impact innovation? 2
- 3. 3From Berwin Leighton Paisner 'The Speed of Business¡® Report
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- 7. 7 1. UPL 2. Rule 5.4 3. Rule 7.2
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- 9. 9 The Rise of ¡°Legal¡± Startups Number of companies on Angel List identified as ¡°Legal¡±: ? 2009: 15 ? 2013: 305 ? 2016: >1500 (Legal + Legal Tech) Funding: ? 250 identified as ¡°Legal Tech¡± investors ? Over 300 companies listed as having received funding ? Over 150 companies currently hiring
- 10. Funding examples (some recent rounds): ? AirHelp: $12,000,000 ? Logikcull $10,000,000 ? Notarize: $8,500,000 ? ComplyAdvantage $8,200,000 ? Casetext $7,000,000 ? AirHelp $4,700,000 ? CloudLex: $3,700,000 ? LegalSifter: $2,750,000 ? Doctrine.fr: €2,000,000 ? LawAdvsor: $100,000 ? YourFolio: $500,000 ? More?
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- 13. 13 Legal in Austin Austin Legal Hackers Lawyer Forward Others?
- 14. 14 Want to connect? ? jpeters@legalzoom.com ? Twiter: @legaljeeves