Marta Belcher

Wilson Sonsini Goodrich & Rosati's Rebecca DeGraw on the common legal pitfalls that could delay your funding and how to avoid them as you grow. As startups scale, converting notes and securing a priced round often becomes a key consideration. That's why getting your cap table, IP, and employment agreements in order is a must for closing the deal.

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This week, I'm talking with Horace Wu, CEO of Syntheia, one of the most advanced Contract Analytics and Document Management platforms. He gives his take on the hype in #legaltech, why the market is so crowded, and why so many companies fail to meet attorneys' expectations. We also discuss new techniques to maximize results using generative AI as it applies to the law. Listen now! #GenerativeAI #VentureCapital #LLMs #Podcast #FutureofWork Nicola Shaver Ed Walters Alex Su Charlie O'Donnell Mark Kahn John Scrudato The LegalTech Fund

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LLMOps can be boiled down to three things: 1. Make sure the LLM system does what it is supposed to do: eval 2. Make sure the LLM system doesn't do what it is not supposed to do: red-teaming, guardrails 3. Have continuous visibility into the previous two: observability and analytics into dev/test/prod 2 & 3 can be automated or heavily augmented. 1 is the hardest to automate given every LLM application has its own intent. A design pattern for 1 is the continuous articulation of human intent to an AI evaluator, so the AI can execute them. The future of eval tools augment human evaluators by elicit an important set of high-level intent from human and translate that to low-level assertions. Shreya Shankar did a wonderful job with the EvalGen framework. Who else is working on it?

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Has Generative AI Transformed In-House Legal? An insightful discussion at Legal Innovators California featuring a panel of trusted legal experts (1) exploring real-world applications like contract review and legal research (2) sharing strategies for responsible integration of GenAI (3) evaluating industry impact and how GenAI's role might evolve Daniel Lewis, LegalOn Technologies Joy Sherrod Intel Corporation Andrew Moffett Wayfair Frank Tenente Uber John Zimmerman Touchdown Ventures Adam Nguyen eBrevia #legaltech #lawtech #genai #legalinnovators #legalinnovation

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Interesting piece from Marc Andreessen on how startups are not getting the regulatory support they need to sustain America's technological leadership. "Regulatory agencies have been green lit to use brute force investigations, prosecutions, intimidation, and threats to hobble new industries, such as Blockchain. Regulatory agencies are being green lit in real time to do the same to Artificial Intelligence." While many investors themselves (both in the US and Europe) are worried how AI will change our lives, our jobs and social interactions, the top VC opinion leader thinks regulation is already too restrictive. #techstartups #techleadership #strategicgrowth

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Really enjoyed this article from First Round Capital, Irene Liu and Hypergrowth GC! It's great to see leaders in the VC community educating founders on how to work w/ attorneys. A quick summary of the takeaways for early-stage startup founders: ▶ Legal advice should be user-friendly. 👋 “Contrary to popular belief, lawyers can and should be able to have a conversation with you about your business in plain English ... If you are leaving the initial call feeling confused or misunderstood, that’s not on you. That’s a red flag that this lawyer and firm isn’t going to communicate with you in the way you need. If that’s the case, then walk away and find another firm that can communicate clearly with you." ▶ Your attorney should understand your business, product and vision. 🧠 “A good business lawyer should be taking the time to listen to deeply understand you and your business — which means asking you questions ... "If they are rushing you off the phone, or even worse — refusing to hop on a call at all, nix them.” ▶ It's your job, as a founder, to take control of the relationship. 💪 You can manage legal costs and get clearer, faster advice by: (i) being clear about the deliverables you expect (ie, "never ask for written memos"); (ii) setting budgets on time spent on a task (ie, "please let us know your progress and pause on further work once you've billed 5 hours); and (iii) sending your lawyer context ahead of time before asking abstract questions that may cause confusion. A savvy attorney will pre-empt these issues, aligning on deliverables up-front, clarifying timelines and asking for context at every step. Feel free to tag someone who could benefit from reading this article below. 🔌 (Relevant links in comments)

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Just wrapped up an insightful few days at Legal Innovators California, focusing on AI/LLM in legaltech. Key takeaways: - AI is poised to disrupt the legal practice imminently. - Growing interest in automating routine tasks like SaaS contracts and NDAs. - Cyborg solutions, integrating humans for quality control, are being launched in legal services today - RAG is intriguing but not foolproof for precision in legal matters (very different from creating marketing copy for TikTok) I'm excited about the concept of autonomous agents negotiating contracts and streamlining core issues for human attention - a game-changer! Looking forward to more developments in this space! Lauren Bonner Jonathan Jetmundsen Juristat #LegalTech #AI #Innovation #LegalInnovatorsCalifornia

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Interesting approach using USPTO open data systems, such as Patent Assignment Data for "unique insights to evaluate startups holistically, enabling informed decisions during vetting processes." Thanks, Chakshu Kalra!

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Dan Primack had some pointed criticism for #VC yesterday in his Axios Pro Rata newsletter (a daily must read IMO 😤). In short, the model doesn't work if it can't produce exits for LPs. Don't blame public markets (which are at all-time highs) for the lack of liquidity either. 📈 💸 Instead, this is a "liquidity drought of your making" where "...swinging for the fences on every pitch, rather than taking the single or double that's available" is the only way out when you invest at "sky high valuations." 😰 "A whopping 37% of "unicorns" are being held for at least nine years by VC funds, including 13% that are past the 12-year mark." 😳 ⌛ Is he right? Is VC at a dire inflection point? Or is Primack prematurely hitting the panic button? 🚨 https://lnkd.in/dts92pXr

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https://lnkd.in/g8tHXHuP #HowTo Title: Revolutionizing Legal Aid: How AI Lawyers are Transforming Small Businesses in Wheeler, Oregon Excerpt: In the bustling heart of Wheeler, Oregon, a quiet revolution is underway. Small businesses, the lifeblood of this picturesque coastal town, are embracing an unexpected ally: Artificial Intelligence (AI) lawyers. This cutting-edge technology is not only making legal advice more accessible but also more affordable for the small business community. In an era where legal costs can be a significant burden, AI lawyers are proving to be a game-changer. They offer a cost-effective solution, providing guidance on a wide range of legal issues, from drafting contracts to understanding complex regulations. This new wave of legal assistance is not just about saving money; it's about empowering small businesses to navigate the complexities of the law with confidence. But how does it work? AI lawyers, such as those offered by [Your AI Lawyer Company], use machine learning algorithms to understand and interpret legal documents, providing accurate and actionable advice in a fraction of the time it would take a human lawyer. This means small businesses can make informed decisions quickly, giving them a competitive edge in the fast-paced business world. The impact of AI lawyers on Wheeler's small business community is already evident. Business owners are reporting increased efficiency, reduced legal costs, and a newfound confidence in navigating the legal landscape. As more businesses adopt this technology, it's clear that AI lawyers are set to reshape the legal landscape in Wheeler, Oregon, and beyond. Stay tuned as we delve deeper into this exciting development, exploring the benefits, challenges, and future prospects of AI lawyers for small businesses. Whether you're a small business owner in Wheeler or simply curious about the intersection of technology and law, this series promises to provide valuable insights and practical advice.

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Introducing CoCounsel Drafting. As an extension of our newly launched professional grade generative AI assistant, CoCounsel, this addition utilizes generative AI to transform legal drafting: https://ow.ly/KGut50SFrUb

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Today is an inflection point for Breakout with the announcement of our $4.5m venture growth round led by the experienced team at RockawayX with participation from Mechanism, Round13, CSquared, IOBC, and Mentat Group. Operationally, we’ve accomplished one of the hardest feats — going zero to one. We currently have over 5,000 traders that have collectively traded over $12B in notional volume and we’re growing exponentially. It’s now time to take things to the next level with a stacked treasury that we can leverage to improve our product even further and get Breakout into the hands of tens of thousands of new traders across the globe. I often get asked what it’s like to run a startup and many times I don’t even know where to begin. Startups are HARD. I won’t get into the minutiae but after 4 startups and 16 years, the biggest takeaway for me has been that in order to succeed, you have to mentally overcome the fact that successful startups need to fall forward and constantly navigate unique obstacles without allowing any one of those obstacles to paralyze the company. This is a constant battle that is unachievable without a resilient team that all share the same mindset and entrepreneurial drive. Our team at Breakout is the best I’ve ever been a part of and our growth in such a short period of time could not have been achieved so far without each and every person involved. You know who you are, thank you. We’re going to continue to push the envelope and will have some really exciting news to share in the coming weeks on the product front. Stay tuned. https://lnkd.in/ezPs8pdE

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Introducing Wendy Lee, AI & fintech law expert at Buchalter! Larraine Segil, founder of #EWA, is thrilled to facilitate insightful discussions among our mentors. In the article below, Wendy shares her journey into AI & fintech law, insights on the White House EO, worker protections, global AI regulations, balancing innovation & regulation, 'explainability' in law, and privacy protection. #ExceptionalWomen #AI #Fintech #LegalInsights

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Companies should brace for another surge in California Invasion of Privacy Act (CIPA) claims after two federal court decisions relating to common website analytics tools. - A Central District of California decision holding that CIPA is not limited to physical devices is likely to increase CIPA claims. - A Ninth Circuit opinion undermines a common CIPA defense argument – that a user consented to data collection merely via a privacy policy or cookie policy. - The most effective way to defend against these CIPA claims is to require all users to specifically opt in to the use of ad pixels and cookies, such as through a “cookie door.” #Litigation https://lnkd.in/eenD-aRa

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If the Federal Trade Commission's ban on non-competes holds up against its various legal challenges, companies will need to be extra diligent in protecting their confidential information and trade secrets. NDAs and trade secret protection will be even more paramount. Some very simple steps all companies (from startups to multinationals) can take are listed in this article I recently published. Numbers 4, 5, 6 and 7 are particularly relevant. #FTC #noncompete #IP #tradesecrets

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Curious about provisional patent applications (PPAs)? Mark your calendars for August 28th! Join our cofounder Stephen Key and the USPTO's Silicon Valley Office next Wednesday at 4pm Pacific for a presentation featuring Patent Examiners Wade Miles and Ali Soroush, Esq.. Wade has been a Patent Examiner in AU 3771 since 2008, specializing in medical devices like stents, lancets, heart valves, and surgical robots. He became a Primary Examiner in 2014 and has contributed to USPTO initiatives, including the Patent Trial and Appeal Board, Technical Quality Assurance Shop, and Patent Training Academy. Ali brings over 17 years of experience as a Patent Examiner in biotechnology, with a special focus on pharmaceuticals, cosmetics, and herbicides. He’s contributed to several projects, including the development of Global Dossier and the implementation of WIPO standard ST.26 (presentation of nucleotide and amino acid sequence listings using xml). Why are PPAs important for inventors? Filing a PPA helps you begin establishing ownership of your invention. You can also use a PPA as a selling tool. Don't miss this chance to get your PPA questions answered by the USPTO! A special thank you to the USPTO’s Silicon Valley Office. Register for Inventors Online here: https://lnkd.in/e57d6gT2 #InventorsOnline #IGA #USPTO #PPA #IntellectualProperty #NewIdea

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