IP law isn't something that's easily understood. Yet, IP disputes are bound to happen if your company creates anything – or does anything, really. When a dispute happens, it pays to understand some legal jargon even if you can afford to hire a pricey lawyer. That's where Lex Machine comes into play.
Lex Machina is a cloud-based company offering businesses a way to understand IP law in layman terms. Or, as the company states, Lex Machina exists to “…help fulfill our mission to enable innovation and invention by bringing openness and transparency to IP law.” That all sounds useful, doesn't it? But, just how easy is is to use what Lex Machina has to offer?
A Useful Comparison Tool
Lex Machina can be used by one company to compare litigation files with another company that was once in a similar situation. For example, if you own Company A and you are currently in a dispute that was very similar to what Company B went through last year, you can view Company B's proceedings on the Lex Machina website. Why? Because it's always good to know what you can and can't get away with when you're in the middle of a legal dispute.
You can also choose outside counsel, work with consultants, and basically view a bunch of legal IP information that's usually reserved for lawyers and those with a legal background. Lex Machina is the tool that any business facing an IP dispute wants to use, and it's not a cloud company that's going unnoticed either.
Currently, Lex Machina is used by Microsoft, eBay, and a number of other companies. Add to that $4.8 in first round funding, and you have one heck of a cloud company that investors and major companies alike see a lot of potential in. But, you don't have to be a business owner in the midst of a dispute to use Lex Machina either.
This cloud-based company is also free to use for any legal scholar, student, university employees, certain federal agencies, courts, and certain non-profits that might need some legal help in the IP department. In short, it's a one-stop shop for all your IP needs.
A Cloud Niche
I've spoken before on this blog about finding a cloud-based niche if you want to survive in the cloud world. Lex Machina is a perfect example of a niche that works, and it's also a niche that no other company has touched so thoroughly. Lex Machina works – and attracts investors – because it is unique.
It's easy to jump on the cloud bandwagon and set up a cloud hosting company or try to create a cloud-based business that competes with the rest, but niche is where it's at in the cloud world. As startups like Lex Machina have proven, it takes more than an interest in the cloud to turn an idea into a profitable business. To find out more about Lex Machina, check out the company's website.
Got questions about finding your niche? Let me know!