Techlawyered Monthly #3 : The Hype of the Unknown – NFTs, Space Law, Copyright License & UpCounsel

Techlawyered Monthly #3 : The Hype of the Unknown – NFTs, Space Law, Copyright License & UpCounsel

Hello!

I came across this tweet and it caught my attention with respect to the trend of Non-fungible Tokens or what you also know as NFTs. Is it another quick cash scheme or something stronger?

Okay, let’s start from the beginning. An NFT is a digital asset that represents real-world objects like art, music, or videos. The assets are bought and sold online mostly with cryptocurrency. It is unique and easily verifiable so fake collectables cannot be created or sold because each item can be traced back to the original issuer, and your sale can make you rich

If you are a frequent user of social media, especially Twitter (before the ban), you may have come across the memes of Osita Iheme, popularly known as Pawpaw and maybe used them as a means of expression. Anyways, the gist is PawPaw has decided to sell his works (memes) on the internet as NFTs. Memes for sale, money for bag 🙂

Back to my tweet, asides from the craze of NFT, let’s bring it home to legal technology. It occurred to me how my question in the tweet also applied to the attitude of law firms to legal technology.  Is there no craze or no interest in legal tech, because they don’t understand it or they just don’t care. Is it Ignorance or Indifference or a mix of both?

What do you think?

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In today’s newsletter, we will be looking at some interesting news in the month :

  1. Q and A with Faith Obafemi on Getting started in Space law and Technology
  2. A legaltech idea that could be looked into (problem & solution)
  3. Some exciting stories we read about
  4. The launch of our Youtube channel

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Q & A with Faith Obafemi on Space Law & Blockchain

We had an interesting conversation with Faith Obafemi, the Blockchain lawyer who is also a Tech Policy Associate at the Tony BlairInstitute for Global Change.

Q: You have always been the go-to person for anything on Blockchain law, so what sparked your interest in Space Law

A: I’m still into Blockchain. I haven’t abandoned it. My main interest is actually emerging technologies and since there is more than one emerging technology, I decided to gain competence one at a time. Now that I have a foothold in Blockchain, my next area of interest is Space technologies and I got interested in it because of its futuristic potential. I’m the kind of person that likes to ensure my career stays future proof because history has shown us that humans are naturally curious and love exploring. Even now that we have finished exploring the earth, the next logical place would be the galaxy. I want to be at the frontier when things are happening, that’s the kind of person I am. When breaking into a new space, I like to link the new knowledge to an area that I am already familiar with, that way I don’t start from scratch. In this context of knowledge, I get to link my knowledge of Blockchain with Space Technology. read more on our conversation…

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Legaltech Idea

Problem: I saw another tweet that caught my interest. It is hard for legal beneficiaries to claim the funds of deceased parents/children in Nigerian banks. How do we make this process simpler and easier?

Solution: This is where I actually ask you what you think? Do you know anybody solving this? I would like to talk to them.

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Stories we found interesting: 

  1. Meet Q-Soft Denovo Court Recording System, the product that converts speech to text with 90% accuracy built from a collaboration between the Federal Ministry of Justice and the firm of  Funmilayo Quadri & Co
  2. LegalTech Unicorn, Clio acquires CalendarRules, a product that automates calendaring of court deadlines.
  3. TechRound’s Top 25 LegalTech Companies.
  4. The Customer is King in Venture Capital: Truth or Myth
  5. Startup Failure: This GovTech Startup failed because it had no market need and the founder shared some lessons.
  6. A guide for founders on the commercial terms in Negotiating and Documenting Copyright licenses by Tech Hive Advisory
  7. UpCounsel launched its Crowdfunding Campaign to bring legal to the people; an online marketplace that connects business with a network of experienced lawyers for 1/3rd the price. 

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We launched our Youtube Channel

This has been a long time coming and finally, we are here. We now have a Youtube channel (actually, we have always had it, we just did not have any video up, but now we do and we will be having videos up on the channel every week). 

Is there anything you would like us to talk about or questions you want us to answer, share with us by sending a mail to the.tech.lawyered@gmail.com

And yes, you can subscribe here 🙂

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Thank you for reading!

Till I come your way again, stay safe.

You can follow us on Instagram, Linkedin & Twitter

Techlawyered Monthly #2 : A LegalTech Unicorn to the World – Clio, Lexis Nexis, NBA-SBL, and Disco.

Techlawyered Monthly #2 : A LegalTech Unicorn to the World – Clio, Lexis Nexis, NBA-SBL, and Disco.

Hi,

It’s been a minute, or even more. 

Legal Zoom’s recent IPO move. On June 29th, LegalZoom, a leading online platform for legal and compliance solutions in the United States, with a goal of democratizing the law announced the pricing of its first public offering (IPO) of some shares of common stock at $28.00 per share to the general public. LegalZoom has also announced the concurrent sale of more shares of its common stock in a private placement to businesses linked with TCV, an existing stockholder, at the same price per share as the initial public offering price. Legalzoom has over 20 years of experience navigating complex regulations and simplifying the legal and compliance process for its customers, and it operates in all 50 states and over 3,000 counties in the United States.

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In today’s newsletter, we will be looking at some interesting news in the past month :

  1. We read our book of the month : and here are the top 3 highlights from the book
  2. We now have a legaltech unicorn. Guess who?
  3.  1 legaltech idea that I think should be worked on (problem & solution)
  4. Some exciting stories we read about.

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Three lessons learned from the Book of the Month: Law and the Media by Tom Crone

1. The law of defamation protects the reputation of a person from defamatory statements made about him to a third party without lawful justification. A statement is defamatory if it tends to lower the claimant in the estimation of right thinking members of society generally (Sim v Stretch (1936)).

2. A person who publishes a libel knowing it to be false may be sentenced to a fine and a period of imprisonment (Section 4 of the Libel Act 1843). A publisher who did not know a libel was false may also be sentenced to a fine and a sentence of imprisonment (Section 5 of the Libel Act 1843).

3. Copyright does not protect ideas, news or information from being copied. Instead, it protects the material form or manner of expression of that idea or information.

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Now, we have a legaltech unicorn : Clio

Clio, a cloud-based legal technology business, has become the first global legal tech unicorn, having raised $136 million CAD ($110 million USD) in a Series E round valued at $1.6 billion USD. Clio’s total fundraising to date has been $503 million CAD, with a minor, undisclosed part of secondary capital.

Clio’s mission is to modernize “expensive, obsolete on-premise solutions” with cloud technology that makes managing firms, cases, and clients easier for lawyers. According to the Burnaby, British Columbia-based company, the funding makes it the world’s first legal practice management unicorn. It’s also the second tech startup to achieve unicorn status in Canada with the first being Clearbanc. Finally, according to Jack Newton, the cofounder of Clio, he says, “It’s exciting to see that there’s so much enthusiastic investor support for the vision we have for the future of legal.”

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Legaltech Idea

Problem : Before the Twitter Ban in Nigeria, we saw on a daily basis, a report of missing persons, their details and pictures. If you are part of those that still access twitter with a vpn (giving you a side eye), you will still see these tweets. In some cases, the missing persons are found and in some other cases, they are not. Maybe we just don’t get the memo.

Solution : A website or app that curates the list of all missing persons reported on any social media platform or other sources of information and  verified by the Police.Where the person is found, the details of such a person is taken off the Missing list or greyed out. I know whospottedme.com does something like this but I wonder if they are still in operation. I also came across Toutiao Xunren from China and Laapata on Google Play.

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Stories we found interesting: 

  1. The Annual Africa Law Tech Festival is set to hold virtually from 5th to 7th of this Month with the theme : Digital Policy for Economic Growth
  2. Westlaw Edge launched a new research tool for legal practitioners that help in identifying weaknesses in the written arguments of the opposing counsel. In other words, Quick Check Contrary Authority Identification (that’s the name of the feature), with the use of Artificial Intelligence, a lawyer is able to analyze and identify relevant authorities omitted from the brief of the opposing counsel.
  3. Anu, a legaltech startup that uses AI to match startups with the lawyers best suited to work with them, has shutdown for various reasons including that they could not find the right business model.
  4. 10 Candidates were shortlisted for the second stage of the NBA-SBL Innovation Hub Challenge.
  5. Disco,the legaltech company from Texas has become the latest legaltech vendor to file for an IPO with an estimated market size of $42bn. Disco uses AI and cloud computing to help lawyers and legal teams to improve legal teams. Let’s just say they give what we would call e-discovery as a Service.
  6. TWCC : Must-Read Conversations on Law, Tech & Innovation
  7. LexisNexis, has expanded its analytics offering to the Finance space. With the launch of its solution for researching and comparing recent and relevant transactions, finding on-point precedent and clause language, and evaluating specific deal points for more thorough document drafting and more successful negotiations.
  8. We are launching our Youtube Channel 🙂

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Thank you for reading!

You can follow us on InstagramLinkedin & Twitter

Regards,
Kelechi.

Techlawyered Monthly #1: Once upon a unicorn – Flutterwave, YungaTech, HiiL West Africa, and Ross Intelligence

Techlawyered Monthly #1: Once upon a unicorn – Flutterwave, YungaTech, HiiL West Africa, and Ross Intelligence

Hello,

This has been a long time coming. Well, I am here now, and every month, I will be sharing exclusively with you insights into legal technology in Africa, as well as analysis on happenings in the space. 

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In today’s newsletter, we will be looking at some interesting stuff :

  1. 5 lessons learned from our Book of the Month
  2. A legaltech startup that caught my attention this month
  3. Somethings that I found interestingthis month
  4. 1 legal tech idea that I think should be worked on
  5. A cool tech app that I stumbled upon.

Top Lessons learned from the book of the Month

  1. Intellectual property rights impose costs upon the public. While these intellectual property laws can be justified as they encourage the creation and dissemination of new works to offset these costs.
  2. One reason why intellectual property rights are limited in scope, in duration, and in effect is so that the costs and benefits are balanced.
  3. Copyright protection is principally limited by term duration, fair use, the first sale doctrine, and some others. In contrast, “access protection” entails technological procedures that shield a copyrighted work from the attempt to copy.
  4. Fair use is a complex subjective matter that requires consideration of four factors: purpose and character of the use, the nature of the copyrighted work, the amount and substantiality of the taking, and the effect of the use upon the potential market for or value of a copyrighted work.
  5. To resolve disputes involving trespass or nuisance, the court can award an injunction or free use based on a reading of statutory or common law, or some attempt to establish all costs and benefits associated with each outcome.

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Startup Spotlight

I came across this startup and found their product fascinating. Let me introduce you to YungaTech from Uganda.Yungatech provides low-cost security tools to local communities. It’s a digital network for connected neighborhoods that provides local rescue and microinsurance. The goal of the startup is to enhance community security in sub-Saharan Africa by investing in the manufacturing of fast, user-friendly crime prevention security tools that are backed by microinsurance.

Yungatech was built by Anatoli Kirigwajo, Kawesa Nasser and Kasoma Frederick in November 2018 for just one Ugandan community and has since grown to protect over 1,500 citizens in Kampala. The products under the startup are Yunga Plus, Yunga Basic, Yunga Doorbell and some others.

Yunga Plus: includes all Yunga Basic features but also allows for automatic detection of intrusion in homes on community devices, phone calls and mobile application notifications even when owners are not home. The Yunga Basic: calls for instant help by pressing the Yunga device or a tap of a button from a phone application. The Yunga Doorbell: visitors are able to use their phones to ring doorbells.
I look forward to discovering other kinds of startups involved in Community Justice like this.

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Things I found interesting this Month

  1. Andrew, former founder of the now non-existent Ross intelligence makes a transition from Law to co-founding a Medicine startup
  2. The Call for Applications for the Innovating Justice Challenge is now open
  3. The Legal Technologist publishes another issue of its bi-monthly magazine
  4. Seeking justice is not only expensive for the poor, who would have thought?
  5. The Emerging Online Valley Summit is happening on April 7th and 8th.
  6. At Techlawyered, we had an IG Live Q & A with Chukwuemeka Monyei of Ligal Aid and Damilola Yakubu of Legalboxng
  7. African fintech company announced that it raised $170 million in Series C funding, valuing the company at over $1bililion. (unicorn status activated)

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Productivity Hack-App

If you are like me and you sometimes get frustrated with trying to filter through your inbox and differentiate between newsletters, important emails and the likes, well, welcome to Spark.

Spark is an intelligent email client that shows you what’s important in your inbox. It bubbles emails from real people to the top and allows you to take batch actions on your newsletters and notifications. It was created for people who live by their inbox and who want to have an amazing experience with email. 

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At this point, let me be one of the first persons to wish you a Happy New Month of April.

You can follow us on Instagram, Linkedin & Twitter

Regards,
Kelechi.