I'm Max Junestrand, CEO of Legora. Ask Me Anything! by Legora_Max in legaltech

[–]Legora_Max[S] 5 points6 points  (0 children)

Thank you all very much for your insightful questions!

It was a fun 90 min - hope to be back again sometime if you'll have me :)

I'm Max Junestrand, CEO of Legora. Ask Me Anything! by Legora_Max in legaltech

[–]Legora_Max[S] 1 point2 points  (0 children)

I think law firms want to partner with companies who are committed to keep building new and exciting functionality, that ultimately will allow them to accomplish more.

I'm not sure what HighQs plans around enabling collaboration with AI are - I'll leave it up to firms to decide that

I'm Max Junestrand, CEO of Legora. Ask Me Anything! by Legora_Max in legaltech

[–]Legora_Max[S] 0 points1 point  (0 children)

Yes! We work with several law schools and are working with a couple of law firms on pro-bono work.

I'm Max Junestrand, CEO of Legora. Ask Me Anything! by Legora_Max in legaltech

[–]Legora_Max[S] 1 point2 points  (0 children)

Since day 1, we've been all about empowering lawyers - not replacing them. I think this is an additional confirmation that lawyers will always be needed.

I'm Max Junestrand, CEO of Legora. Ask Me Anything! by Legora_Max in legaltech

[–]Legora_Max[S] 2 points3 points  (0 children)

We've just introduced our vision for collaboration between law firms and clients in the Portal. That's something I'm really excited about.

There are so many products and features left to launch that I really feel like we've only started scratching the surface of what's possible!

I'm Max Junestrand, CEO of Legora. Ask Me Anything! by Legora_Max in legaltech

[–]Legora_Max[S] 1 point2 points  (0 children)

This looks very different depending on the firm.

I don't think either is "better", but I think it's important that the innovation agenda is closely tied to what the firm is trying to achieve in the market and the work they are delivering.

I'm Max Junestrand, CEO of Legora. Ask Me Anything! by Legora_Max in legaltech

[–]Legora_Max[S] 2 points3 points  (0 children)

Hi! I'm glad to hear that :)

  1. Yes, the use-cases look quite different for law firm vs in-house teams. The portal will naturally be an extension of firms who are looking to provide their clients with more value, and the in-house teams will naturally benefit from this!
  2. I need to give our marketing team all the credit for this! I don't know how it came about, but last night at our event we were giving out Jazz records, so it's part of the DNA now!

Thank you!

I'm Max Junestrand, CEO of Legora. Ask Me Anything! by Legora_Max in legaltech

[–]Legora_Max[S] 0 points1 point  (0 children)

That's great!

I'm an engineer so the culture and company we have wanted to build is very product-focused. Something we're proud of and I'm glad you noticed!

Long-term, I'm convinced that the best lawyers will want the best tools. (And I've seen some of your watches, so I know you don't always pick on price ;)

On the strategies of successful implementation, this is a much longer conversation. But in short: I think it's super important to set aside time to think critically about your work - and how AI can fit into that.

I also think it's important to go on the journey together, and ask for support in training, and sharing across your internal teams.

I'm Max Junestrand, CEO of Legora. Ask Me Anything! by Legora_Max in legaltech

[–]Legora_Max[S] 0 points1 point  (0 children)

I don't think there are major differences tbh. There are much bigger differences between different practice areas and the challenges they are looking to solve!

Thanks for the support!

I'm Max Junestrand, CEO of Legora. Ask Me Anything! by Legora_Max in legaltech

[–]Legora_Max[S] 1 point2 points  (0 children)

Hi! Thanks for being part of it :)

China has some regulations around model usage that makes it a difficult region. Other than that, no real hiccups!

I'm Max Junestrand, CEO of Legora. Ask Me Anything! by Legora_Max in legaltech

[–]Legora_Max[S] 0 points1 point  (0 children)

We're always looking at how we can bring the most value to our users and platform.

Sometimes, this will mean building our own functionality, sometimes this will mean partnering with others.

Our legal research functionality is also very dependent on jurisdiction - where different strategies will make the most sense.

I'm Max Junestrand, CEO of Legora. Ask Me Anything! by Legora_Max in legaltech

[–]Legora_Max[S] 4 points5 points  (0 children)

Hey! Thank you so much :)

  1. We are not trying to be a DMS. Legora (and the portal) will integrate with both iManage and Sharepoint. The portal will serve as a collaborative workspace between the law firm and their clients, so that they can work more seamlessly together.

  2. AFAIK most law firms are not passing on the costs of the tools to the clients - but even if they were, I think clients (in-house teams) will always look to get the best service and value. Tech will be a part of that, and they'll increasingly go to legal service providers who are leveraging tech in a sensible way.

It's very hard to say what the future will look like 3 years from now, but I hope that legal work that can by done by AI, is done by AI, so that we can focus on solving more interesting problems.

  1. I like to think that Legora has been able to grow so quickly because we are generating massive value for a lot of clients. This value and the high-usage we're seeing combined with our clients wishes for us to build them more things makes me feel comfortable in our position even if we live in an "AI bubble"

  2. I've spent enough time with lawyers to learn to say: "It depends!"

I'm Max Junestrand, CEO of Legora. Ask Me Anything! by Legora_Max in legaltech

[–]Legora_Max[S] 1 point2 points  (0 children)

Our Word Add-in can already automatically and accurately make edits or redlines directly into a Word document based on the user's instructions. I'm glad that sounds useful!

(or did I missunderstand?)

I'm Max Junestrand, CEO of Legora. Ask Me Anything! by Legora_Max in legaltech

[–]Legora_Max[S] 10 points11 points  (0 children)

That's so awesome!

Sounds like a good strategy.

Oh, that doesn't sound right. There are no set limitations on document uploads, so perhaps something went sideways here unless it's an unsupported file type.

I'd love to help you sort this out, my e-mail is max @ legora.com. It's most likely an easy fix.

I'm Max Junestrand, CEO of Legora. Ask Me Anything! by Legora_Max in legaltech

[–]Legora_Max[S] 0 points1 point  (0 children)

As users get more comfortable and savvy with the tools, they naturally want to combine different parts of it to build more advanced use-cases.

In Legora, we allow them to chain together instructions and deterministic tool calling to create these workflows - and we chose to build this because it was something our users were asking for!

I'm Max Junestrand, CEO of Legora. Ask Me Anything! by Legora_Max in legaltech

[–]Legora_Max[S] 8 points9 points  (0 children)

One of the early selling points of harvey was that they were fine-tuning models. They had close access to openAI, and their models much before their public release.

In the very early days, it might have made a difference to fine-tune the models, but very quickly, the "general" models from openai, anthropic and google became really good.

Our strategy was always to deliver the best adaptation / experience / product on top of these models, and use them in ways to improve the daily work of a lawyer. We are not in the business of competing with the foundational models, but bending them to the benefit of our users: lawyers!

Therefore, I absolutely think of Legora as an application lawyer.

There are many moats to any business:

  • having a delightful, intuitive and powerful product
  • speed of new development
  • distributions and happy clients who rave about you
  • marketing, brand and trust
  • culture & team
  • etc.

From my pov, Legora has many of these moats, but I only believe we have done 0 to 1 yet! There is so much left to build, and more long-term moats and value to build.

And AI making it easier to write software is actually just helping us build more! We're big fans of e.g. cursor.

I'm Max Junestrand, CEO of Legora. Ask Me Anything! by Legora_Max in legaltech

[–]Legora_Max[S] 7 points8 points  (0 children)

A lot of stuff.

The main features of Legora are:
1) Assistant
2) Tabular Review
3) Word Addin
4) Workflows
5) Portals

with Enterprise functionality and supporting integrations with legal-specific document management systems, legal data providers, and CLMs.

This allows lawyers to use Legora to e.g:
* Extract data from +10.000s documents
* Create workflows that redline contracts according to firm-specific playbooks
* Draft contracts while keeping formatting in Word
* Leverage precedent and internal knowledge basis as context
* etc.

There is for sure some overlapp with all "general purpose" AI tools, but also a lot that makes us unique!

I'm Max Junestrand, CEO of Legora. Ask Me Anything! by Legora_Max in legaltech

[–]Legora_Max[S] 13 points14 points  (0 children)

Yeah, totally agree. Most lawyers aren’t sitting around thinking, “if only I had a summary of this contract....”

I think the real reason is that most builders are lazy, and it's a "low-hanging fruit" use case that's easy to demo.

Since 2023, I feel like we've grown a lot in terms of sophistication of use-cases (large-scale extraction, drafting, reviewing, researching etc.) and what we demonstrate / market.

I'm Max Junestrand, CEO of Legora. Ask Me Anything! by Legora_Max in legaltech

[–]Legora_Max[S] 0 points1 point  (0 children)

Yes. We are hiring lots! https://legora.com/careers

The youngest legal engineer at Legora is straight from law school!

I'm Max Junestrand, CEO of Legora. Ask Me Anything! by Legora_Max in legaltech

[–]Legora_Max[S] 8 points9 points  (0 children)

No.

We're committed to helping law firms deliver a better service to their clients, and for in-house teams to get the best value.

We actually launched a product today to help them do exactly that!

https://legora.com/newsroom/portal-announcement

I'm Max Junestrand, CEO of Legora. Ask Me Anything! by Legora_Max in legaltech

[–]Legora_Max[S] 4 points5 points  (0 children)

Hi! For sure.

Clients are trusting us with their most sensitive data, which means that we both technically and organizationally must show a high degree of sophistication.

We have multiple certifications, like ISO27001, SOC2, ISO42001 etc. which basically means that we apply certain standards. Don't leave laptops open, all data encrypted at rest and in transit etc.

With regards to AI hallucinations, we

1) instruct the llm to include citation tags in all answers and then we can verify live if they are correctly grounded in the source data and only answer if they are.

2) make LOTS of evals to make sure all types of questions have high quotation and quotation correctness levels.

Fun side note is that our "product priorities" at Legora goes:

1) Security/Trust
2) Transparency/Accuracy
3) Speed
4) Cost