Genie AI is the UK’s largest open source legal template library. We want to put an end to the black magic behind legal contracts and empower everyone with the knowledge to draft agreements. Startups can save up to £30,000 in legal fees with Genie, and we’re increasingly seeing larger companies join our open source mission.
On Genie you can choose from hundreds of peer-reviewed legal templates, customise the document and sign. Over time, we intend to provide intelligent insights to guide you through the process based on thousands of past data points.
We know that hiring employees, advisors, selling a software product or raising investment are commercially sensitive moments and no one wants to go through time consuming back and forth after sending a document to sign. That’s why Genie’s documents are open sourced, allowing the market to rally behind a common, standardised approach to repetitive agreements. No more re-inventing the wheel!
How did you come up with the idea for the company?
Initially my co-founder, Nitish and I, specialised in deep generative algorithms on our MSc in machine learning course, a type of algorithm that is great for generating text in structured documents like legal contracts. As we became integrated with the legal industry, we were shocked how extensively firms start with templates and precedents, yet this information isn’t available to everyone.
Secondly, many of our friends in the legal industry were horribly overworked, frequently ending up with long term health conditions. To a large extent, this was due to the billable hour pricing model which incentivises people to work extremely long hours.
To solve these fundamental problems, we set out to make legal contracts transparent by open sourcing the law, and changing the business model of law to truly align with customer value. In addition, law is a knowledge problem, and knowledge is data. We can use our machine learning experience to make sense of this information and deliver contract and clause level insights to help users complete their agreements.
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How has the company evolved over the last couple of years?
Since being founded in 2017, we have grown to be the UK’s largest open-source legal template library. We are backed by Lord Neuberger, the former President of the Supreme Court of the UK, and have received funding from Connect Ventures, in addition to being awarded one of the UK’s largest ever government start-up grants.
What can we hope to see from Genie AI in the future?
Now that we have open sourced a large legal template library that is peer reviewed and driven by the community, the next focus is to add more intelligence to those documents.
This will likely mean the ability to draft and review contracts with AI insights, see alternative wordings and use tried and tested legal language, thus giving users more confidence in the agreements they are drafting, negotiating and signing.
Our overall mission is to make legal more transparent, accessible and affordable for businesses.