Legaltech and Arbitration
By: Legal Technology
Tags: Artificial Intelligence, Legal, Arbitration, Legaltech, Startup

What is Legaltech?

Let’s start with the basic definition of the legaltech. Legaltech is the use of technology and software to provide legal services in a more efficient way. The companies which call themselves legaltech products are generally start-ups and they try to disrupt the legal market by offering innovative solutions.

You may think that the legal sector cannot be easily disrupted by the startups however many startups have started to appear in the sector and some large law firms have already begun using them in their tasks. Therefore, it is always better to follow the developments and be able to adapt to the changes otherwise you could stay behind your competitors.

Why do we need legaltech in arbitration?

A fundamental principle in arbitration is that parties would aim to have their cases solved in a just, quick and efficient manner. Legal technology tools can be a catalyzer for accomplishing this aim. There are right now numerous startups working on how to render viable mechanisms for this end to law firms, arbitrators and other interested parties. Let’s have a look at one of the startups founded to realize this purpose.

JUS MUNDI

This is a startup based in Paris which aspires to be a worldwide search engine for international law and arbitration. It has recently received a €1 million seed funding to enhance its product. It was founded by 5 engineers and a lawyer, Jean-Rémi de Maistre, in late 2018.

The team has collected lots of international arbitration awards and treaties between states in order to form a database for their products. They also update their databases by integrating new cases and treaties.

Their main focus is on investor state dispute settlement and private international law however they will offer additional fields of law such as competition law.

Their services can be divided under two topics. First is the legal research. It has over 15,000 comprehensive cases, judgments enforcing or setting aside awards and ISDS and other international law related documents. It can be time-saving and efficient for both arbitrators and counsels or researchers and students to conduct researches by using this search engine. The other feature under this topic is wiki notes in which users can easily and rapidly look up to the legal notions written by legal experts they are facing with nevertheless it is now under development.

The second service it presents is the arbitrator research. There is arbitrator directory comprising a list of arbitrators. It enables users to have an access to the analytics in relation to an arbitrator’s activity and their legal reasoning. This information is provided by the relevant arbitration institutions or courts’ permissions. This tool may help speeding up the search for the most suitable arbitrators and their due diligence analysis in relation to relevant arbitration case.

Furthermore, it exists a conflict checker tool where users can register their requested arbitrator candidate and any other arbitrator, law firm or the state to foresee any possible direct or indirect conflict.

This startup has received support from many prestigious law firms in arbitration field and law schools such as Harvard and Sorbonne Law School which have been using the product. To support their community, they are now offering free trial until April 30, 2020 which is a great opportunity to experience it!