Legal Tech landscape in Central Eastern Europe - subjective list (part I)
When analyzing the Legal Tech landscape around the world, you can get the impression that this market is mainly limited to solutions offered by suppliers from the USA, UK, Germany or Australia. While the Legal Tech market has reached a certain maturity in these countries, Central Eastern Europe is a place where there is still a huge area for development and where disruptive and scalable startups are also emerging and which have the potential to succeed on a global scale. In today's article I would like to present a subjective list of Legal Tech solutions from CEE regions that are worth noting.
This finalist of the Global Legal Hackathon 2020 has developed an interesting tool, which tracks compliance of IT projects with legal regulations and agreements, including NDAs, IP rigths and data protection laws including GDPR. SlothEye may be described as a self-service tool, since it can be used not only by lawyers, but also by the business itself, cause it works as a plug-in for agile project management tools such as Jira. Its core functionalities are: constant analyze of workflows, identification of potential risks and giving recommends to project team members as well as licences management.
Although this company is now incorporated in the United States, it has its roots in Czechia, where it was founded in 2014. Its story may be a guideline for other Legal Tech startups how to scale up and go global. Legito is a document automation tool, which enables users to simplify the process of drafting, negotiating and signing of contracts. Its clients speak for itself, i.e. PwC, large law firm in CEE region and many others in approx.. 50 countries.
Global Legal Hackaton has been an incubator for another interesting startup, which is Revealu (global winner on 2018). It supports companies to be compliant with the requirements of GDPR, by providing a platform to handle requests of the personal data subject and process them in a time efficient way.
Estonia is well known for being one of the most digitalized countries in the world, especially with regards to the public administration. It has developed a program of e-residency for digital nomads and is on its way to implement AI to decide small claim cases by the courts. It is also a country where another interesting tool has been developed, which is Avokaado. Its core functionalities are contract automation, workflow and negotiations streamlining, contract approvals and singing.
The views and opinions expressed in this article are those of the author's and shall not be deemed as an official position of any company or organization with which the author is associated with.