June 15, 2015
Thomson Reuters and CodeX Announce 2015 Legal Tech Open Innovation Challenge
Competition for new applications to provide Big Data analytics to legal profession
EAGAN, Minn. — Thomson Reuters and CodeX today announced the 2015 Legal Tech Open Innovation Challenge, a unique open call to forward-thinking technologists and entrepreneurs to develop next-generation technology solutions that can advance the legal system. Thomson Reuters is the world's leading source of intelligent information for businesses and professionals. CodeX — The Stanford Center for Legal Informatics — develops technologies for a better legal system.
The 2015 Legal Tech Open Innovation Challenge, hosted by InnoCentive, is a competition for legal professionals, programmers, entrepreneurs, data scientists and any other interested parties to develop new applications that improve the efficiency of the legal system by providing high-value analytics. The contest is now open and runs through Aug. 31, 2015.
Participants will gain access to several years of federal court dockets content from WestlawNext®, which can be combined with outside data sources to develop applications that can create or identify useful metrics, trends, patterns, projections and predictions to support the practice and business of law.
“Innovation and partnership are at the heart of our business,” said Susan Taylor Martin, president of the Legal business of Thomson Reuters. “We are pleased to celebrate these values in this challenge that opens our content to the entrepreneurs and innovators who will experiment with new approaches to how legal work gets done. We are especially pleased to work again with Dr. Roland Vogl and his team at CodeX.”
Awards, including a US$20,000 top prize, will be presented in November. Entries will be judged on their ability to innovate big-data analytics to address practical or professional needs of the legal marketplace. Submissions will be evaluated for novel combination, integration and application of data analysis.
“This challenge is a unique opportunity for participants to access the resources of Thomson Reuters and develop new solutions that can benefit the legal marketplace,” said Karl Florida, managing director, Small Law Firm, and innovation champion at Thomson Reuters. “Litigators rely on analytical information to plan case strategy, make more informed decisions about litigation and help manage their clients’ expectations. We’re looking forward to the combination of Thomson Reuters resources in big data with the energy and passion of Challenge participants to spark new levels of innovation and develop new tools for legal practitioners.”
“We’re delighted to work with Thomson Reuters on this initiative,” said Dr. Vogl, executive director of the Stanford Program in Law, Science and Technology, and founder and executive director of the Stanford Center for Legal Informatics (CodeX). “I’ll be interested to see what results from the businesses’ spirit of partnership and openness in making this massive, interrelated data set available to a diverse universe of innovators.”
More information about the 2015 Legal Tech Open Innovation Challenge can be found at innocentive.com.
At CodeX, The Stanford Center for Legal Informatics, 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, policymakers and the public at large. CodeX emphasizes the research and development of computational law, the branch of legal informatics concerned with the automation and mechanization of legal analysis.
Thomson Reuters is the world's leading source of intelligent information for businesses and professionals. We combine 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. Thomson Reuters shares are listed on the Toronto and New York Stock Exchanges. For more information, go to www.thomsonreuters.com.