Randall Kelton
Dresden, TN (USA)
Role(s):
Founder/Owner/Principal
The Law Society
Find More Startups
Startup
Location:
Boyd
Industry:
Technology/Web
Year Founded:
2006
Number Employees:
1-10 people
Business Stage:
Creation/Idea
Entity Type:
Not Incorporated
Description:
Est. Pre-Money Valuation:
$470,000
Amount of financing sought:
$1,000,000
Type of Financing Sought
Angel finding of $1,000,000 so that we can build our team and prepare for a private sale in 3 months of $15 to $45 million then go to full launch and public sale in six months from private sale date.
Show Your Lawyer
Before you make a decision on this project, have your lawyer look at it. Your lawyer will immediately recognize the value of this project.
Problem
Lawyers spend non-billable hours trying to evaluate new clients knowing clients never tell you everything. Lawyers simply can't know everything or remember all that they do know on the spur of the moment. Online search engines have ruined the practice of law. Lawyers simply cannot find all the law on a given point. They can no longer practice general law but are forced to specialize to be sure they don't miss anything and risk sanctioning by the court or being sued by their client.
Competition
The product is so disruptive that there will be no direct competition. We will disrupt Lexus Nexus, Westlaw and all other online search engines. Our research repository will essentially render them obsolete. Rocket Doc and other online form fillers will be replaced by questionnaires that will collect the needed information, then our system will prepare the documents for the users. Litigation aids will also become obsolete before a tool that does the work for the lawyer.
Solution to Problem
We have broken the law down to questionnaires. A person can apply the facts to the codes and isolate only the law that related specifically to his/her case. In our questionnaires, we have all the legal points so we use the questionnaire as a research repository. Instead of a lawyer looking for the first case on point, they go to the point in the questionnaire where we provide a folder with links to all the relevant case law. Our tool creates all the docs indicated for download.
Products / Services
Complete online case analysis for individuals and lawyers Revolutionary Research Repository Complete online document creation in downloadable, fully hyperlinked format. Complete virtual office for lawyers Crypto protected online distributed web file storage. Our system will organize all the law by legal point and bring all the relevant law to bear on every case which will render law ultimately consistent. The novice can come to the table fully informed as to the law in his/her case.
Market Size
1,080,000 practicing lawyers in the US. 25% of 45,000,000 cases handled without lawyers 14% of 325,000,000 people now carry some form of pre-paid legal
Customers Current / Potential & Sales Strategy
At .1% market intrusion per month our annual profit projections are as follows: 1st Year: $21,018,644.00 2nd Year: $222,031,137.00 3rd Year: $445,364,652.00 4th Year: $660, 123, 596.00 5th Year: $2,227,492,957.00
Exit strategy
3 month private sale targeted at $15,000,000 to $45,000,000