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User:Armenshirazd/Lawpath

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Lawpath is an Australian online legal startup based in Sydney, Australia. Lawpath operates on a software-as-a-service, subscription-based business model. Lawpath serves small and medium-sized enterprises, startups and individuals with services including legal documents, customised legal workflows, business registration, e-signatures and on-demand lawyers.[1] Lawpath serves customers across Australia, New Zealand, South-East Asia and the United States.[2]

Lawpath
Company typePrivate
IndustryLegal technology
Founded2014; 10 years ago (2014)
FounderDominic Woolrych
Tom Willis
Damien Andreasen
Paul Lupson
Phil Morle
Headquarters
Sydney
,
Australia
Area served
  • Australia
  • United States
Key people
Number of employees
50+
Websitewww.lawpath.com.au

History

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Lawpath was founded in 2013 by Dominic Woolrych, Tom Willis, Damien Andreasen, Paul Lupson and Phil Morle. The founders sought to offer a cheaper alternative to traditional law firms,[3] addressing issues associated with the cost and complexity of legal advice.[4]

In 2013, Lawpath's revenue was approximately $50,000.[5]

Through its partnership with LexisNexis, Lawpath provides customisable legal documents for users.[6]

In April 2016, Lawpath announced a strategic alliance with Norton Rose Fulbright with the aim of using LawPath's technology and distribution platform to provide premium legal services to small and medium businesses.[7][8]

The startup recorded 140% revenue growth for the 2020-21 financial year.[9]

In October 2021, the company announced the appointment of Tony Faure as chairman, who also serves as the chairman of ASX listed oOh!media and Readytech.[10]

In December 2021, Lawpath announced an expansion of its accounting services through a partnership with accounting company, POP Business.[11][12]

During the COVID-19 pandemic, Lawpath saw an increase in demand for its business registration and legal plan subscriptions as people launched side jobs.[13]

The startup launched its platform in the United States on 15 September 2022.[14] Its competitors in the US include LegalZoom and Rocket Lawyer.

Lawpath's services are used mainly by businesses under $5 million in revenue, with up to 20 employees, of which approximately 40% work in online sectors, including e-commerce and the gig economy.[15] Lawpath claims that its services are used by over 300,000 businesses,[16] and that it helps form 6% of new companies in Australia.[17]

Lawpath's partners include Canva, Tyro, Salesforce, AWS, Shopify, MYOB, Xero and POP Business.[18]

Services

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Lawpath's platform provides online legal documents for individuals, small and medium-sized enterprises and startups ranging from employment agreements to wills. Its legal documents are available to Lawpath's subscribers, providing access to a library of over 400 documents.

Lawpath's legal document library was the original premise of the company, and has since expanded to include various other services.

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The company's Legal Health Check service analyses business’ legal gaps through questions regarding the structure and services a business provides. Its technology assesses the data provided and recommends one of its services to help improve the business' legal compliance.[19]

On-Demand Services

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Lawpath offers on-demand legal services for customers who need advice from a lawyer or would like a document they have created on the platform reviewed. Customers can obtain fixed-price quotes from Lawpath's legal marketplace of over 800 lawyers.[20]

Funding

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In October 2015, Lawpath completed a $1.3 million capital raising.[21]

In July 2018, LegalZoom led a $1.8 million investment round in Lawpath, in exchange for undisclosed percentage of the business.[22]

$4.4m funding round.[23][24]

Lawpath completed a $7.5m capital raise in September 2021 with an aim of expanding into new markets, including New Zealand and Southeast Asia.[25]

Awards and recognition

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  • In 2015, Anthill Magazine recognised Lawpath in its 'SMART 100' index of Australia’s 100 most innovative products.[26]
  • In 2018, Lawpath was recognised by Westpac as a Business of Tomorrow.[27]
  • In 2020, Deloitte listed Lawpath in its Technology Fast 500 Asia Pacific and Fast 50 Australia rankings.[28][29]
  • In 2021, Lawpath won the ABA100 SaaS Innovation Award.[30]
  • In 2021, Lawpath's Chief of Staff was recognised as a Women in Law Finalist.[31]

References

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  1. ^ Shu, Catherine (2021-10-04). "Lawpath gets $7.5M AUD to become the Asia Pacific's LegalZoom". TechCrunch. Retrieved 2023-03-29.
  2. ^ Croft, Lauren (2022-09-15). "Lawpath launches in US". www.lawyersweekly.com.au. Retrieved 2023-03-29.
  3. ^ White, Louis (2015-08-11). "Legal expertise going cheap". The Sydney Morning Herald. Retrieved 2023-03-28.
  4. ^ "How To Avoid The Top 5 Legal Pitfalls in Small Business". HuffPost. 2016-03-10. Retrieved 2023-03-28.
  5. ^ "Tech swell has LawPath on top form". Australian Financial Review. 2014-05-08. Retrieved 2023-03-03.
  6. ^ "Tech swell has LawPath on top form". Australian Financial Review. 2014-05-08. Retrieved 2023-03-03.
  7. ^ "Legal giant Norton Rose Fulbright teams with LawPath to lure startup clients". Australian Financial Review. 2016-04-18. Retrieved 2023-03-02.
  8. ^ "Norton Rose Fulbright and LawPath have formed a strategic alliance to provide start-ups and SMEs with greater access to premium legal services". Norton Rose Fullbright. 2016-04-19. Retrieved 2023-03-03.
  9. ^ Palmer-Derrien, Stephanie (2021-12-15). "Lawpath launches accounting-on-demand product for SMEs". SmartCompany. Retrieved 2023-03-28.
  10. ^ "Lawpath raises $7.5m as the COVID side hustle boom aids rapid growth". Business News Australia. Retrieved 2023-03-28.
  11. ^ "Lawpath unveils on-demand accounting services". Lawyers Weekly. 2021-12-29. Retrieved 2023-03-03.
  12. ^ Palmer-Derrien, Stephanie (2021-12-15). "Lawpath launches accounting-on-demand product for SMEs". SmartCompany. Retrieved 2023-03-03.
  13. ^ Shu, Catherine (2021-10-04). "Lawpath gets $7.5M AUD to become the Asia Pacific's LegalZoom". TechCrunch. Retrieved 2023-03-29.
  14. ^ "Lawpath launches in US". Lawyers Weekly. 2022-09-15. Retrieved 2023-03-03.
  15. ^ Shu, Catherine (2021-10-04). "Lawpath gets $7.5M AUD to become the Asia Pacific's LegalZoom". TechCrunch. Retrieved 2023-03-29.
  16. ^ "About us". Lawpath. Retrieved 2023-03-28.
  17. ^ "Lawpath Launches Its Legal Platform in the US". Legal Practice Intelligence. Retrieved 2023-03-29.
  18. ^ "Partners Program 2023". Lawpath. Retrieved 2023-03-28.
  19. ^ "How to future-proof your job in the law". Law Society Journal. Retrieved 2023-03-28.
  20. ^ "Damien Andreasen (Co-Founder & CEO, Lawpath): "With Lawpath, lawyers have to compete on price, experience and expertise"". www.leadersleague.com. Retrieved 2023-03-28.
  21. ^ "Norton Rose Fulbright and LawPath have formed a strategic alliance to provide start-ups and SMEs with greater access to premium legal services | Global law firm | Norton Rose Fulbright". Norton Rose Fulbright. Retrieved 2023-03-28.
  22. ^ "Legal start-up LawPath bags investment from US giant as growth rate soars". Australian Financial Review. 2018-07-09. Retrieved 2023-03-03.
  23. ^ "Australian Legal Startup Lawpath Closes $3 Million Funding Round". Law.com International. Retrieved 2023-03-03.
  24. ^ Koehn, Emma (2020-01-08). "Virtual lawyers enter legal advice arena with startup dash". The Sydney Morning Herald. Retrieved 2023-03-03.
  25. ^ Bhatla, Prabhjeet (2021-10-05). "Legaltech Startup Lawpath Raises AUD $7.5M Funding". Entrepreneur. Retrieved 2023-03-02.
  26. ^ Magazine, Anthill (2015-05-04). "My LawPath has scored a spot on the 2015 SMART 100!". Retrieved 2023-03-02.
  27. ^ "200 Westpac Businesses of Tomorrow list". The Australian.
  28. ^ "Technology Fast 500 Asia Pacific | Deloitte Australia | Technology, Media & Telecommunication". Deloitte Australia. Retrieved 2023-03-02.
  29. ^ https://www2.deloitte.com/content/dam/Deloitte/au/Documents/technology-media-telecommunications/deloitte-au-tmt-tech-fast-50-2020-winners-report-26112020.pdf
  30. ^ Awardbase® (2021-10-06). "Lawpath Legal Advice Plan - The Australian Business Awards 2021". The Australian Business Awards >> Winners. Retrieved 2023-03-02.
  31. ^ "2021 Winners and Finalists". www.lawyersweekly.com.au. Retrieved 2023-03-02.
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