Entrepreneurs always require legal advice when they are trying to secure support from investors, but most-time (specially when they are starting a business) they do not have the expertise to assess legal documents such as fundraising paperwork.
Entrepreneurs in South and Southeast Asia who have found potential investors also struggle, as the online templates are primarily in English and most web-based solutions available today are mostly only available for US jurisdiction.
Legalese, supported by ISIF Asia 2016 Technical Innovation grant, created an application, which enables Asian entrepreneurs and investors to complete financing transactions without hiring lawyers for paperwork. This app is able to access a library of contract templates, generate a suitable set of agreements, and help to understand the implications of each proposed action. In a long term, the software development will begin to influence the delivery of law. Instead of relying on an experienced lawyer for advice, an end-user may consult the legal equivalent of StackExchange to hear opinions from a community of peers.
By building a fully-automated interface with smart defaults, embedded user education, and automated legal logic, Legalese aims to eventually be able to help these entrepreneurs at scale.
To discover more detailed project information, their final technical report is available to download at https://application.isif.asia/theme/default/files/ISIFAsia_2016_Grants_TechReport_Legalese_vFinal.pdf