The Early Days of Legal Analytics
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There is an interesting story in Forbes on Lex Machina, a legal start-up that provides analytics for use in LexMachina-logo1patent litigation. See Dan Fisher, Stanford-Bred Startup Uses Moneyball Stats to Handicap Judges, Forbes, Feb. 2, 2015. The company was created by faculty at Stanford Computer Science and Stanford Law. As the company emerged from the University, the reigns were handed to Josh Becker, a Stanford JD-MBA. To date, the company has raised $8 million in start-up funding. According to the Forbes article, the company’s clients include some of the nation’s large technology companies plus one-third of the AmLaw 100.
What makes Lex Machina so interesting is that the company is not a NewLaw service provider that’s trying to take marketshare. Instead, Lex Machina is a toolmaker. It is a true Big Data company that provides analytics to (a) value contested patents and (b) protect/maximize that value through a litigation strategy that is informed by data.
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