Legal
tech startup Legal Lens has
created a tool that may protect
companies, state entities, and individuals from inflated legal fees. The
startup is able to reduce legal fees by as much as 60%, but it says that around
10% is the average.
The founders, Catherine-Jane Paulse and Yusha
Davidson, both attorneys, recognised legal invoices often reflected billing
practices and errors that resulted in unfair, high legal fees.
“The recent discussion
paper by the South African Law Reform Commission regarding
its investigation into legal fees also confirms that improper and unethical
billing is a reality in South Africa,” says Paulse.
Davidson says: “We realised that it’s awkward and
difficult reviewing legal invoices, as clients fear disrupting the close
relationship they have with their lawyers and may not have the knowledge needed
to dispute a legal invoice. It’s time consuming. So, we developed a tech
solution to review legal invoices and reduce legal fees.”
To use the service, users need to send the legal
invoices to Legal Lens, along with any correspondence regarding fee
arrangements and the letter of engagement with the lawyer.
Using experienced attorneys, optical character
recognition and machine learning, Legal Lens digitally reviews the legal
invoices to identify areas for potential savings. The businsss then engages
with the customer’s lawyer regarding the fees in dispute.
The start-up says egagements are professionally
handled to ensure that the relationship between the customer and the lawyer is
maintained. After the legal invoice has been renegotiated and revised, it
obtains a new invoice from the legal firm that reflects the reduced amount to
be paid.
Clients are charged 17.5% (including VAT) of the
amount saved. If there are no savings, there is no charge.
Legal
Lens has entered into discussions with the Law Society of South Africa (LSSA),
for the LSSA to recommend the offering. The LSSA has stated that this
innovative solution has the potential to protect the interests of the public.
For
more information on the offering, visit www.legallens.co.za.
