The practice of law involves various forms of prediction and analysis, and historically legal professionals have relied on personal professional experience to attempt to accurately predict various outcomes. This professional experience may be augmented using the combination of detailed historical data and data analytics to increase the accuracy of predictions. Data analytics enhance attorneys’ ability to recognize business opportunities and to provide effective representation by arming them with better predictions about the future.
In this open innovation Challenge, Thomson Reuters and CodeX – The Stanford Center for Legal Informatics (http://codex.stanford.edu/) – have partnered to invite legal professionals, programmers, entrepreneurs, data scientists and any other interested parties to utilize years of federal court dockets along with outside data sources and Thomson Reuter’s PermID to develop an application that provides high value analytics to legal practitioners.
This Challenge has a special award structure with three awards of $20,000, $15,000, and $10,000 for 1st, 2nd, and 3rd place, respectively, for granting the Seeker a non-exclusive license to practice the solutions. In addition, up to four more Honorable Mention awards will be given. Each awardee will have the opportunity to attend the 2015 Thomson Reuters/CodeX Legal Tech Showcase event to be held at Stanford in November 2015 and be provided with a $2,000 stipend to attend the event.
This is a Reduction-to-Practice Challenge that requires a written proposal and delivery of a functioning software application.
Submissions to this Challenge must be received by 11:59 PM (US Eastern Time) on 17 September 2015. Late submissions will not be considered.
Legal Technologies have the potential not only to increase efficiency for those within the legal profession, but to change the way regular people interact with the law. The 2015 Legal Tech Open Innovation Challenge – Docket Analytics, sponsored by Thomson Reuters and Codex, seeks to promote and identify innovations within the legal tech space, through novel applications that utilize docket data, outside data, and Thomson Reuters’ PermID to provide high value analytics to legal practitioners.
This Challenge provides a unique opportunity to access the resources that Thomson Reuters makes available for experimentation. Selected award recipients will also be invited to an event to be held in November, 2015 in Stanford, CA. Seasoned legal-technologists, entrepreneurs, lawyers, investors and CIOs, from Thomson Reuters and the Stanford Codex network will hear presentations from selected award recipients, and form the connections to move them to the next level.
The submission to the Challenge must include the following:
The award is contingent upon evaluation and validation of the submitted Solutions by the Seeker.
To get access to this valuable data and receive a monetary award, the Solvers will not have to transfer their exclusive IP rights to the Seeker. Instead, they will grant to the Seeker non-exclusive license to practice their solutions.
ABOUT THE SEEKERS
Thomson Reuters and Codex have teamed up to support this unique legal tech focused global innovation Challenge.
Thomson Reuters is the world's leading source of intelligent information for businesses and professionals. Thomson Reuters combines industry expertise with innovative technology to deliver critical information to leading decision makers in the financial and risk, legal, tax and accounting, intellectual property and science and media markets, powered by the world's most trusted news organization.
No one in the legal marketplace invests as much in innovation as Thomson Reuters; Thomson Reuters creates connected tools and services to help our customers streamline their processes, collaborate with colleagues and clients and easily leverage critical information and insights. Thomson Reuters’ vision is simple: Thomson Reuters will give their customers a smarter way to work by providing unrivaled legal solutions that integrate content, expertise and technologies.
CodeX – the Stanford Center for Legal Informatics, is a center jointly operated by Stanford Law School and the Stanford Computer Science Department. At CodeX, researchers and entrepreneurs design technologies for a better legal system. CodeX’s mission is to develop technologies that empower all parties in our legal system: lawyers, judges, policy-makers, and the public at large. Forward-looking scholars, students, lawyers, engineers, business people, product designers, and policy makers work side by side to invent and develop technologies ranging from initiatives that solve content licensing inefficiencies in today’s digital media markets, to initiatives that provide greater access to justice, and initiatives that increase transparency in public markets. These advancements lead to the next frontier of legal technology, bringing new levels of legal transparency and individual empowerment. Additionally, CodeX’s events have become the go-to gatherings for the legaltech community, providing a forum for discourse on legaltech and showcasing state-of-the-art legaltech.
CodeX ‘s emphasis is on the research and development of computational law—the branch of legal informatics concerned with the automation and mechanization of legal analysis. Click here to read CodeX research director Michael Genesereth’s white paper on computational law.
What is an RTP Challenge?
An InnoCentive RTP (Reduction to Practice) Challenge is a prototype that proves an idea, and is similar to an InnoCentive Theoretical Challenge in its high level of detail. However, an RTP requires the Solver to submit a validated solution, either in the form of original data or a physical sample. Also the Seeker is allowed to test the proposed solution. For details about treatment of IP rights, please see the Challenge-Specific Agreement.