Legal Tech Market Overview and Trends 

Humanity has been creating and breaking contacts nearly since the beginning of time, making the legal profession one of the oldest worldwide.

It is only logical that with the advance of technology, the legal sector has adopted it, and used it to its benefit.

As computational technology and artificial intelligence matures, more people will be able to have better access to justice.

Monica Bay, Fellow, Stanford Law School CodeX, iTechLaw Forum 2019

Legal Tech is the term for technology companies that develop online software, reducing or eliminating completely the need for legal advice, or/and connecting people with legal experts more efficiently through online marketplaces and matching websites.

The coronavirus pandemic has accelerated the digitisation of many sectors, including law. Legal technology continues transforming law practice, with many legal tech startups promising even greater advancements for law firms. According to the 2023 Legal Trends Report, successful law firms increasingly use technology for essential tasks such as billing, accounting, client communications, and document management. By 2027, the global legal technology market is expected to double in size due to advancements in generative AI (GenAI).  

Legal teams are moving away from short-term automation towards creating an “augmented legal workforce,” where technology complements employee capabilities. By 2026, it is projected that half of office workers in global enterprises will use AI tools to enhance their work.

Key trends supporting this shift include increased use of GenAI for research, contract management, and legal self-service systems. Legal leaders are also expected to outsource more high-volume tasks to alternative legal service providers (ALSPs) to access advanced technologies. While GenAI offers significant benefits, it is crucial to carefully manage risks by avoiding premature adoption and staying informed about data quality and safety issues.

A lot of money is going to established companies that are already past the seed stage and have a running business, for instance, and those are usually much older companies. New companies that are trying something that is innovative or different are still struggling to raise capital.

Raymond Blijd, principal CEO of legal tech investment analyzer Legalcomplex | Law.com

Domain Names and Naming Highlights

Based on our analysis of the companies in our list, we have identified the following key highlights in naming and domain name usage.

Domain Names

Among the companies listed, 170 out of 200 operate under the .com domain extension. The .com extension is widely trusted by customers globally, having been a dominant force on the internet for many years.

144 companies on the list have secured Exact Brand Match (EBM) .com domain names for their online presence. 

There is a common understanding that companies with keyword-rich premium domain names spend considerably less effort and money on SEO and marketing. According to Zahavian research, 82.9% of law firms’ website rankings on the first page contained their brand in the domain name. Anything related to law is usually a touchy subject and so security is of paramount importance. This is likely another one of the reasons why the top Legal Tech startups invest in names matching exactly their brand – to avoid confusion and prevent phishing attacks.

4 companies use a dash in their domain name. Hyphens are often used to separate two-word domains as they are the only spacing character allowed in a domain name.

Naming

Descriptive and Functional Names

In this category, companies use names that directly describe their services, making it straightforward for users to understand what the company does. Examples include ValidatedID, Notarize, LegalPlace, CloudLex, SimpleLegal and Rocket Lawyer.

Abstract or Invented Names

Some companies prefer abstract or invented names, which are unique and memorable, conveying a sense of modernity and innovation. Examples include Clio, Epoq, Ametros, Luminance, Bryter, and HighQ.

Legal and Professional Terminology

Names that incorporate legal and professional terminology are popular among companies looking to appeal directly to legal professionals and emphasise their focus on the legal industry. Examples include Casetext, Legal Utopia, Legalfina, LawGeex, Lawrina and Legalist.

Personalisation and Accessibility

There are also companies that choose names suggesting personalisation and accessibility, aiming to create a user-friendly and approachable brand image. Examples include myBarrister, Checkr, Kodex, MyCase, and Priori.

Global Appeal and Clever Wordplay

Some companies use names that suggest global appeal or employ clever wordplay to create a distinctive and memorable brand identity. Examples include Ironclad, Afriwise, Farewill (a play on “farewell”), Avvoka (evoking “advocate”), and SeedLegals.

Namepicks

Avvoka

Avvoka is a cloud platform that enables businesses to automatically generate, track, e-sign, and store standard-form legal contracts. Since its 2015 inception, the company has raised a total of $216.5K in funding over two rounds. Avvoka operates on the Exact Brand Match (EBM) domain name Avvoka.com.

BRYTER

BRYTER is a no-code software platform that helps companies worldwide to digitise and scale their services. Michael Grupp founded the company in 2018 in Berlin, Germany. BRYTER has raised a total of $89M in funding over four rounds, with the latest one closed on Apr 7, 2021. BRYTER has chosen the EBM domain name BRYTER.com.

Clio

Clio is a cloud-based legal practice management solution that helps law firms practice management and client collaboration. The company was founded in 2008 in Vancouver, Canada. Clio has raised a total of $1.3B in funding over six rounds. In 2023, Clio launched an AI-powered partner to summarise documents and generate bills. Clio has chosen a domain name that clearly corresponds to their global ambitions and communicates their vision – Clio.com.

Everlaw

Everlaw is a legal technology company that provides a platform for document analysis to law firms, government bodies, and corporations. Everlaw’s cloud-based e-discovery platform helps legal teams collaborate and uncover information, and it offers an AI assistant that analyses data and builds legal arguments.

Everlaw operates on the EBM domain, Everlaw.com. This ensures their brand is well-protected online, prevents traffic and email leaks, and avoids confusion among their customers and business partners.

Icertis

Icertis is an American software company that specialises in contract management solutions for large businesses. Founded in 2009 and headquartered in Bellevue, Washington, Icertis provides its services through a software-as-a-service (SaaS) model, enabling companies to manage their contracts effectively. 

With a total funding of $481.5 million, according to PitchBook, Icertis uses artificial intelligence to enhance its contract management platform. The company offers various AI tools that allow users to extract and analyse data from contracts, simplifying the management of complex agreements and uncovering valuable insights. 

The name Icertis is derived from the Latin root word “certa”, meaning “to certify” or “to be certain about”.

Icertis has invested in Icertis.com – an EBM domain name. This is the natural choice of most internet users, and securing that domain for their business is a clear indication that Icertisis is here to stay.

Proof

Proof is an advanced platform designed to combine auditable verification with cryptographic evidence, ensuring that legally binding agreements are executed securely and transparently. Proof utilises artificial intelligence to collect and manage information about lawsuits and court cases, enhancing accuracy and reducing the time spent on administrative tasks. Proof’s AI capabilities help identify patterns and insights from vast amounts of legal data, providing users with valuable information to support case strategies and decision-making.

Proof operates on the dictionary word EBM domain, Proof.com. For a legal tech company, owning a strong domain like Proof.com makes the brand memorable and accessible and instills confidence in clients who require reliable and secure services for managing sensitive legal documents and agreements.

DoNotPay

DoNotPay is a legal services chatbot mobile app that offers legal counsel powered by artificial intelligence for a small monthly fee. The company’s mission is to help clients affordably resolve small legal claims. Joshua Browder, a British-American entrepreneur, founded the company in 2016 in the Western US. Over four rounds, DoNotPay has raised a total of $27.7M in funding, with the latest funding being raised on Aug 1, 2021, in a Series B round. The company has chosen the EBM domain name DoNotPay.com.

Hona

Hona is an application that helps law firms update their clients on their cases, improving the client experience while reducing redundant communication for the firm.

Originally founded as Milestones in 2021, the company operated under the domain getmilestones.com. In 2023, they rebranded to Hona and secured the EBM domain, Hona.com. CVCV (consonant-vowel consonant-vowel) domain names like Hona.com are growing in popularity due to their strong branding potential. These short, easy-to-pronounce, and memorable names have a rhythmic, appealing sound that resonates with customers across different languages and cultures. Well-known brands like Nike, Dove, Visa, Sony, Lego, Bose, and Puma also leverage the power of CVCV domains.

While we make every effort to ensure the data on our site is accurate, complete, and up-to-date, we cannot guarantee its reliability. Our data is provided for informational purposes only and should not be relied upon as legal, financial, or other advice. We strongly recommend that you independently verify any information before relying on it.

How does your brand name match your company vision? What new horizons can a better name open? Get in touch if you feel your brand deserves a better name, we are always happy to help.

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