Dublin startup out to replace lawyers with software service
A new technology-focused legal firm has been launched in Dublin.
LexTech develops 'regtech' and 'legaltech' software products and services for businesses. It is co-founded by Karl Manweiler and Larry Fenelon, partners in the Dublin legal firm Leman Solicitors.
The new company "streamlines" legal and regulatory administration in businesses through digitisation, automation and data capture. The firm will also offer bespoke risk and contract management solutions to business clients.
"At least 40pc of existing legal jobs are now vulnerable to automation," said Larry Fenelon, co-Founder of LexTech and a partner in Leman
"Lawyers will be displaced by LexTech services as the work we do merges legal and technology skill sets. We are filling the gap here in areas like contract management, incident-reporting apps, live business insight reporting and e-conveyancing. We believe this is the future of law.
"Lextech is the first legal technology business developing technology tools to help businesses manage their legal processes as well as driving digitisation, automation and data capture in law."
Managing director Karl Manweiler said that the service was set up as a response to an increasingly regulated environment.
"GDPR, AML, health and safety, environmental, insurance and financial laws and regulations infiltrate all our businesses," he said. "While necessary, this impacts negatively on creativity, productivity and efficiency."