Legal Startup: what it is and how it works
Have you ever heard of Startup, right? And in Startup legal?
Well, first let's look at the concept of what a would be. startup. Generally speaking, there isn't an exact translation into Portuguese, but literally its meaning would be something like "emerging company".
In the market, the term has several possible meanings, some of which are agreeable to most experts, while others are not. Filtering among those that are agreeable, the two most commonly used concepts in the business world are:
- Startup It is a company with low maintenance costs and high growth potential;
- It's a group of people working on an innovative idea that may or may not bring a financial return.
You must be wondering what sets it apart from any other startup, from an ordinary company.
We explained: startups It focuses on a business model that can be scalable and well-thought-out, even in the face of uncertainty.
This means that your goal is to be able to grow, increase your profit and capital, without compromising the essence of your business model.
Typically, to be viable, it requires external investment, that is, a financial contribution from someone who believes in and is betting on the project. This person is known as an angel investor.
It's difficult to imagine how a company that provides services to the legal field can be a... startup, Right? But believe it or not, they exist and are considered trendy.
Law: everything you need to know about the course
What is astartup legal?
Also known as lawtech e legaltech, They are innovative companies, like a startup It must be that their business models are primarily focused on identifying the main gaps in the legal sector and creating solutions to fill them.
It is possible to say that artificial intelligence and technology are intrinsic factors in the existence of this type of company, since those that stand out most in the market develop and apply them. artificial intelligence to solve the problems.
There are others that develop automation platforms, compliance and monitoring of public data and professional networks, in addition to creating a legal management system.
The services provided by a lawtech, In theory, and considering definitions worldwide, they are different from those provided by a legaltech. To the legaltechs provide legal services to the general public, while... lawtech, for sprofessionals Right.
However, in Brazil, these differences are merely conceptual, and both can cater to all audiences, whether professionals or end consumers.
Read more: Startups: how higher education can help you create your own business
How does a startup legal
According to National Council of Justice, Between 2021 and 2022, 27.7 million new lawsuits were filed, bringing the total number of cases awaiting judgment to over 80 million.
Now analyze that among the services offered by startups they are:
- Process deadline control;
- Automated and intelligent monitoring of information;
- Automation and document management;
- Conflict mediation;
- Proposal for intelligent solutions that detect details for case resolution.
Considering that of these 80 million ongoing cases, many are likely on paper, others stalled due to lack of time and manpower to resolve them, and still others where human eyes alone cannot see a solution, having a company that can solve or at least simplify these issues could be a revolution for the Brazilian legal system.
Thinking in the short term, startups Legal services improve the workflow of law firms and other companies that have a department dedicated to this area.
In the field of law, the main advantages provided by lawtechs e legaltechs The benefits include reduced costs for lawyers and increased efficiency, and simplified and transparent solutions for consumers.
In ESEG – Etapa Group College We have a recognized undergraduate course in Right, with the added benefit of offering an excellent foundation for those who would like to work in a startup legal, including the subject of Entrepreneurship and Startups in the legal field, and excellent technology courses for those who would like to develop projects and have their own lawtech.
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