Legaltech developer Codelex Legaltech announces the first phase launch of ‘Lexub’ (www.lexub.com). It is an online lawyer-to-lawyer document marketplace that help lawyers generate revenue, leads and profile. It uses licensing of documents to other lawyers, while also expanding lawyers’ direct access to precedents and example documents.
Lexub intends to help democratise lawyers’ access to precedents utilising a shared-economy-type marketplace platform. For example contracts, and other legal work products.
The site enables lawyers to present documents they wish to sell or licence to other lawyers. A document profile, categorisation options and curated document preview help find the documents that add value to the client work.
For lawyers who list documents on Lexub, it is a chance to monetise historical work product. As well as to reinforce their expertise profile. The system connects buyers and sellers, setting the scene for further conversation and working relationships.
Codelex founder, practicing lawyer, and managing partner of top tier Mongolian law firm MDS KhanLex, Maizorig Janchivdorj, outlined Lexub’s origins:
“Lawyers regularly seek out and are asked by colleagues and peers for legal document examples. It got me thinking about all the work that lawyers do that just gathers dust, generating no further value.”
“It also prompted me to consider whether there might be a way to connect lawyers directly at scale on the same, and also a way to provide a path for lawyers to monetise historical documents. Lexub started to take shape from there”
“Much as Uber connects users in the transport industry and Airbnb connects users in the accommodation market. Lexub is connecting lawyers directly in a marketplace for precedents.”
Market conversations have indicated lawyer interest across a range of document types including contract examples, guidance notes and law change briefings. And with interest also shown in reaching out across jurisdictions in order to forge connections and advance pre-transaction understanding.
Smaller firms, contracting lawyers, and in-house teams appear to be more likely to see opportunity in relation to both sides of a shared-economy platform. While larger firms have initially indicated more interest in finding and buying documents as opposed to selling.
Initial Asia roll-out focus, but global intent
Codelex CEO, Zolzaya Mundur, expanded on roll-out plans:
“The end-goal intent of Lexub is to create the largest library of real legal document examples, across jurisdictions, languages and categories.
However, the first phase of Lexub’s launch is focused on starting to build the document collection, with initial focus across Southeast Asian jurisdictions including Indonesia, Malaysia, Philippines, Singapore, Thailand and Vietnam. Lawyers from anywhere will still be able to join, set up profiles and load documents to the platform, but we will be seeking to reach out more actively to engage lawyers in these named markets first.”
No subscription fees
Lexub’s marketplace is structured so that transactions are between buyer and seller, with the marketplace taking a commission on sales made. There are no subscription or platform access costs.
Codelex Legaltech is a legaltech developer established in Ulaanbaatar and Singapore, with a focus on augmentation, enhancement and streamlining of legal practice. Other products in Codelex’s ecosystem include eLawyer – a cloud-based practice management system for small to medium sized law firms in developing markets, and iGeree – an NLP trained chatbot and contract automation tool badged as ‘Mongolia’s First Robot Lawyer’.
- Lexub: www.lexub.com
- Lexub intro video (2 min): https://www.youtube.com/watch?v=kB039XeRLKU
- Codelex Legaltechon LinkedIn: www.linkedin.com/company/codelex-legaltech
- Zolzaya Mundur(CEO): firstname.lastname@example.org
- Maizorig Janchivdorj(Founder): email@example.com