LexPredict - Empowering the Future of Legal Decision Making

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LexPredict is an enterprise legal technology and consulting firm, specializing in the application of best-in-class processes and technologies from the technology, financial services, and logistics industries to the practice of law, compliance, insurance, and risk management.

We focus on the goals of prediction, optimization, and risk management to enable holistic organizational changes that empower legal decision-making.

These changes span people and processes, software and data, and execution and education.

Published in: Law

LexPredict - Empowering the Future of Legal Decision Making

  1. 1. Empowering the future of legal decision-making © LexPredict @lexpredict www.lexpredict.com contact@lexpredict.com
  2. 2. 2 A look at our presentation agenda Company Overview Company Background Partners & Team
  3. 3. 3 Consulting Services Data Products Software Services Communication Services
  4. 4. 4 Training Programs Our Clients Time for discussion Questions
  5. 5. LexPredict Company Overview Michael J. Bommarito II CEO, LexPredict, LLC @lexpredict Welcome
  6. 6. 6 Empowering the future of legal decision-making LexPredict Background Importing best-in-class processes and technologies from leading global industries LexPredict is a three-year-old enterprise legal technology and consulting firm, specializing in the application of best-in- class processes and technologies from the technology, financial services, and logistics industries to the practice of law, compliance, insurance, and risk management. We focus on the goals of prediction, optimization, and risk management to enable holistic organizational changes that empower legal decision-making. These changes span people and processes, software and data, and execution and education.
  7. 7. 7 Spanning the breadth of business LexPredict Offerings Consulting Services Process, technology, data, prediction, and strategy Data Products Historical and real-time data products Training Programs Standard and custom training programs Communication Services Change management and marketing Software Services Custom legal and statistical software solutions
  8. 8. 8 Featured Coverage
  9. 9. 9 PARTNERS & SENIOR TEAM Management and Senior Resources
  10. 10. 10 -Michael J. Bommarito II- Chief Executive Officer, Co-Founder M.S.E., Financial Engineering. M.A., Political Science. B.S., Mathematics. University of Michigan, Ann Arbor. Lecturer, University of Michigan, Ann Arbor. Adjunct Professor, Michigan State University. Fellow, Stanford CodeX Center for Legal Informatics.
  11. 11. 11 -Daniel Martin Katz- Chief Strategy Officer, Co-Founder J.D. Ph.D., Public Policy and Political Science. M.P.P. University of Michigan, Ann Arbor. Associate Professor, Chicago Kent College of Law. Affiliated Faculty, Stanford CodeX Center for Legal Informatics. Legal Rebel, 2013, ABA Journal. FastCase 50, 2013.
  12. 12. 12 -Josh Blackman- Directory of Judicial Research, Partner J.D., George Mason University School of Law. B.S., Penn State. Associate Professor, South Texas College of Law. 30 Under 30 in Law and Policy, Forbes.
  13. 13. 13 -Jillian Bommarito, CPA- Principal Consultant, Treasurer, Partner CPA. M.Acc., B.A., University of Michigan, Ann Arbor.
  14. 14. 14 -Tyler Soellinger- Senior Consultant J.D., Michigan State University. MBA, B.S.Acc., Western Governors University.
  15. 15. 15 -Sarah Cherng- Senior Consultant Ph.D. candidate, Public Health. M.P.H., B.S., University of Michigan, Ann Arbor.
  16. 16. 16 CONSULTING SERVICES Process, technology, data, and strategy consulting
  17. 17. 17 Service Offerings PROCESSTECHNOLOGYDATA STRATEGY
  18. 18. 18 Unstructured Data Data is predominantly unstructured, resulting in serious barriers to accessing the potential information or knowledge within. This is especially true of legal data. We are experts in end-to-end delivery of refined legal data; we execute OCR, audio transcription, image processing and classification, GIS analysis, and natural language processing, to name a few. unlocking the potential hidden within Data Consulting Settle Settle Defend Defend
  19. 19. 19 Machine Learning, Optimization, and Simulation We’ve been developing machine learning, optimization, and simulation models for over a decade; some of these models move billions of dollars of investment or freight and hundreds of millions in legal spend. While other firms may develop machine learning and simulation models, we’re unique in two senses: Firstly, we always integrate human knowledge into the process. Human + Machine > Human or Machine. Secondly, we have incredibly detailed knowledge of law and finance; you don’t need to teach us about court docketing systems, Treasury regulations, or UTBMS codes. unlocking the potential hidden within Data Consulting 100 0 100 Expected Cost Probability of Success
  20. 20. 20 Legal Process Consulting Agile Many projects or activities don’t fit into the traditional waterfall project management approach. “Agile” methodologies, originally designed for software development, are well- suited to activities like litigation or compliance. Lean While well-understood in business generally, Lean methodologies are relatively new to the legal sector. Some elements of Lean can help organizations better measure and manage quality and cost.
  21. 21. 21 Technology Consulting Software Assessment Problem identification Current state analysis Goal-setting RFP Design Response evaluation Implementation Our partners have two decades of experience managing and implementing technology projects in legal and financial services. This experience allows us to effectively execute or guide. We are experts in the software assessment, RFP, and migration processes for core systems.
  22. 22. 22 Strategy Consulting Market Differentiation Sourcing Models Hiring & HR Reorganization Charting a course, both as an organization and a department, can be difficult. As consultants and business-builders ourselves, we see a broad range of strategies and industries. This worldly perspective helps chart new solutions to differentiate or execute that might not otherwise be apparent internally. “Of surveyed CSO’s use external consultants exclusively in their formulation of strategy.” HBR, The Chief Strategy Officer, October 2007. 47%
  23. 23. 23 COMMUNICATION SERVICES Change management and marketing services
  24. 24. 24 Change Management enabling organizational maturation and change Acknowledge Communicate Develop Implement Evaluate 1 2 3 4 5 We all know that change management is hard. We have experience developing and managing internal content and messaging programs to drive change, either at the management or employee level. We provide standard and custom internal workshops, newsletters, proof-of-concepts, and “help line” services that augment overall change management programs. Internal Content and Messaging Of change management programs fail to achieve their goals. McKinsey, Changing change management, 2015.70%
  25. 25. 25 Marketing Consulting develop and execute on brand, inside and out Measure Message externally Message internally Develop brand Once upon a time, the legal industry didn’t market. Today, developing and clearly communicating a brand is a critical part of execution. We help you navigate the space so that your employees, clients, and service providers understand what sets your organization apart. - the ratio of marketing budget spend for non-legal vs. legal firms. - IDC, 2014. 3:1 Legal Marketing
  26. 26. 26 DATA PRODUCTS Historical and real-time data products
  27. 27. 27 docket and filing databases from select jurisdictions Litigation Databases Products In addition to developing and extracting custom data sources, we maintain a range of litigation data products. These products include dockets and filings from important civil and chancery court jurisdictions at the municipal, state, and Federal levels. Historical and real-time docket and filing data
  28. 28. 28 longitudinal measures of state and Federal regulatory environment Regulatory Databases ProductsHistorical and Early-Warning Regulatory Data Our regulatory database products contain both historical and early-warning measures for a variety of regulatory activity, including state and Federal Commission, Agency, Executive, and Legislative actions. We can run custom historical searches and configure alerts for new activity.
  29. 29. 29 hundreds of thousands of high-quality, machine-readable agreements Agreement Databases Draft, Diligence, and Compare Products Our agreement database products contain high-quality, machine-readable agreements from a wide range of public sources. These agreements span public and private sectors, over 100 industries, multiple countries, and represent billions of dollars in legal spend. These products, especially when combined with natural language processing software, can substantially improve time to draft, diligence M&A targets, and set internal contract standards..
  30. 30. 30 SOFTWARE SERVICES Custom legal and statistical software solutions
  31. 31. 31 https://fantasyscotus.lexpredict.com/ About Project We built a dynamic crowd-sourcing and machine learning platform to aggregate hundreds of thousands of human predictions on cases before the Supreme Court. When combined with proprietary algorithmic models that prioritize human predictions and supplement structured data, we surpass individual expert performance in a scalable, cost-effective manner. The approach applies equally well to other prediction contexts, including large firms and corporate legal teams. https://fantasyscotus.lexpredict.com/ experts + crowds + algorithms FantasySCOTUS
  32. 32. 32 Integrated, real-time litigation dashboards Litigation Dashboard Can be customized to handle a wide range of internal and external matter and activity types. Customizable Can be integrated into existing internal data sources; designed to allow easy data entry. Integrated Focused on delivering actionable output. We work with you to develop predictive models that guide decision- making along the way, not just at “early case” stage. Predictive
  33. 33. 33 TRAINING PROGRAMS Standard and custom training programs
  34. 34. 34 coupling substantive legal competence with statistical comprehension Quantitative Methods for Lawyers Quantitative Methods for Lawyers The Quantitative Methods course has been taught and refined for Michigan State University, Chicago Kent IIT, online, and for private classes. In this course, we introduce participants to data-driven scientific approaches and familiarize them with basic statistical practice, including exploratory data analysis, regression, and inference. Advanced classes are taught using R or Stata, while introductory courses are taught using Excel or pencil-and-paper. Course length and medium can be tailored to a variety of formats.Daniel Martin Katz & Michael J Bommarito II. Trained hundreds of attorneys and JDs
  35. 35. 35 end-to-end data science competency for legal Legal Analytics and Prediction Legal Analytics and Prediction The Legal Analytics and Prediction course has been taught and refined for Michigan State University, Chicago Kent IIT, online, and for private classes. In this course, we train participants to execute end-to-end data- driven legal analytics and prediction projects. Data science skills and legal applications are woven together as students learn to extract and clean data from unstructured and structured sources, segment and cluster records, build machine learning models for regression and classification, and visualize and communicate the results. Course length, medium, and applications can be tailored to a variety of formats. Daniel Martin Katz & Michael J Bommarito II. Trained hundreds of attorneys and JDs
  36. 36. LexPredict Company Overview http://www.lexpredict.com @lexpredict Thank you for listening.
  37. 37. Empowering the future of legal decision-making © LexPredict @lexpredict www.lexpredict.com contact@lexpredict.com

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