Casetext, Inc. (2013-2023)

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A Casetext, Inc. (2013-2023) is a legal tech company.

  • Context:
  • Example(s):
  • Counter-Example(s):
    • LawGeex Company, which focuses primarily on contract review and legal compliance automation without offering comprehensive AI legal assistance across diverse legal tasks.
    • Onit, Inc., a legal operations company specializing in enterprise workflow automation and business process management solutions, lacking a dedicated AI legal assistant.
    • ROSS Intelligence, an AI-powered legal research platform that provides case law search but does not support the broader functionalities offered by CoCounsel, such as deposition preparation or real-time courtroom assistance.
    • Kira Systems, which primarily focuses on contract analysis and due diligence reviews for mergers and acquisitions but does not offer comprehensive legal task automation across various domains.
    • LexisNexis, a well-known provider of legal research tools and content, but without an integrated AI assistant like CoCounsel for automating and streamlining diverse legal processes.
    • Westlaw Edge, an advanced legal research service with AI tools like "WestSearch Plus" for research insights but lacking the holistic AI assistant functionalities of CoCounsel.
    • Blue J Legal, which provides predictive legal analytics for tax and employment law cases but does not function as an AI assistant capable of diverse legal tasks like CoCounsel.
  • See: Legal Certification Exam, Legal Knowledge, Law-Focused AI Chatbot.

References

2024

  • https://www.youtube.com/watch?v=eBVi_sLaYsc
    • NOTES
      • Casetext is a pioneering legal technology company that has leveraged AI and machine learning to transform legal research, making it more efficient and accessible for law firms of all sizes. Initially focused on improving legal research with annotated case law, it has since evolved to integrate advanced AI models like OpenAI's GPT-4 to offer sophisticated solutions like CoCounsel.
      • Casetext is known for its flagship product CoCounsel, the world’s first AI legal assistant capable of performing complex legal tasks such as document review, contract analysis, and deposition preparation, reducing the time required for these tasks from hours to minutes​.
      • Casetext underwent a major pivot in 2023 when it integrated GPT-4 into its technology stack, resulting in rapid growth and ultimately leading to its acquisition by Thomson Reuters for $650 million. This strategic move transformed CaseText into one of the most prominent AI-driven legal technology firms​.
      • Casetext has been widely adopted by the legal industry, with over 10,000 law firms, including more than 40 of the top Am Law 200 firms, using its tools to enhance legal workflows and improve access to justice. Its products are designed to be intuitive and effective for both small practices and large legal teams​.
      • Casetext is positioned as a leader in vertical AI solutions, focusing on applying advanced natural language processing (NLP) and machine learning specifically to legal applications. It has set a precedent for how AI can be effectively used in specialized industries to tackle mission-critical tasks that require precision and legal expertise​.

2023a

  • (LinkedIn, 2023) ⇒ https://linkedin.com/company/casetext/about/
    • QUOTE: Meet Casetext, the leaders of innovation in legal AI since 2013 and the developers of CoCounsel, the world's first AI legal assistant. CoCounsel completes document review, legal research memos, deposition preparation, and contract analysis in minutes—with results lawyers can trust.

      Our team of top litigators, reference attorneys, PhD data scientists, and leading AI engineers apply cutting-edge AI to the law to create solutions that enable attorneys to provide more efficient, higher-quality representation to more clients, gain a competitive advantage, and increase access to justice for everyone.

      Today, over 10,000 law firms—from solos and small practices to more than 40 Am Law 200 firms—rely on Casetext to elevate the quality of their practice. For more visit www.casetext.com.

2023b

2023c

  • (Reuters. 2023) ⇒ "Thomson Reuters to acquire legal AI firm Casetext for $650 million." Reuters June 27, 2023 10:59 AM
    • QUOTE: Thomson Reuters (TRI.TO) said on Monday it had agreed to acquire Casetext, a legal startup with an artificial intelligence-powered assistant for law professionals, in a $650 million all-cash deal.

       Thomson Reuters' chief financial officer, Michael Eastwood, had said last month that the company planned to spend about $100 million a year to invest in artificial intelligence (AI), which would be separate from the news and information company's merger and acquisition budget of about $10 billion from now till 2025.

    • One of Casetext's key products is CoCounsel, an AI legal assistant launched in 2023 and powered by GPT-4 that delivers document review, legal research memos, deposition preparation, and contract analysis in minutes, Thomson Reuters said in a statement.

       Casetext was granted early access to OpenAI's GPT-4 large language model, allowing it to develop solutions with the new technology and refine use cases for legal professional, it added.

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