As the demand for Legaltech increases across the world, companies which specialize in developing LegalTech has also come into prominence. CodeLex is one such startup that supplements and optimizes legal services by implementing technology in the necessary areas.
CodeLex -About The Company
CodeLex was founded in 2018 in Mongolia by Maizorig Janchivdorj. Currently headquartered in Singapore, their core team is based out of Ulaanbaatar, Tokyo and Singapore. The company assists legal companies and services to develop legaltech that supports their work, enhancing its quality, streamlining processes and overall improving traditional practices by utilizing technology.
The company believes that legaltech has the potential to drastically improve the current state of the legal industry. By utilizing tech to support the industry, optimize practices and increase the efficiency of the system, justice can be delivered more effectively, helping those under the rule of law.
As a legaltech firm, CodeLex undertakes projects that supplement the operations of legal entities and professionals. Though they are not directly involved in litigation or legal proceedings, their work makes it easier for professionals, companies and even citizens to work within their functions. They have three main projects and some affiliated ones.
One of their main projects is called eLawyer, which was their first product. It was launched in 2019 in the Mongolian Market. The platform was their first practice management portal, through which lawyers could handle their work, communicate, coordinate and study remotely,
Their second product, launched in February 2020 is called Lexub. It is a crowdsourced online document repository and sharing platform for lawyers. It gives them access to precedent documents and other legal works uploaded by other lawyers. It also helps them make money by licensing their work to other lawyers while expanding the library. With Lexub, lawyers can obtain precedent documents for cases, real document examples from veteran lawyers, and a library full of work that can help them gain the necessary edge in their practice, The project aims to build the largest legal document repository across different subcategories of legislation, languages and even entire legal systems.
Their latest project, also called CodeLex (Phase 1) is at the ideation and research stage, with the alpha launch expected to be out in 2021. This is meant to be a sentiment-based court decision prediction system built on advanced AI. This is expected to be able to predict verdicts of cases so that lawyers could plan accordingly and approach litigation in various ways to gain the best possible outcome for their clients.
They are also affiliated with two more legaltech projects. The iGeree employment contract automation tool, a product of MDS KhanLex, allows users to create and draft various legal documents without legal knowledge or skill. The iGeree employment law-trained chatbot, Mongolia’s first ‘Robot Lawyer’ is an AI-powered chatbot with NLP training, and the capability to provide legal advice within its training.
CodeLex has had 3 rounds of fundraising, and its latest funding was raised from a venture-series unknown fund in July 2019. The total amount of funding raised is undisclosed.
As a Legaltech firm that implements tech for building various legal industry tools and supplements, CodeLex has the flexibility to work across jurisdictions to create tools that benefit all systems. Such broad-spectrum solutions cater to the general needs of the sector rather than specific legal systems, which could improve judiciaries beyond national borders.