[Kopimism] Lex Machina

[Eddan Katz]

Developed in part by Mark Lemley (http://www.law.stanford.edu/node/166497)

http://techcrunch.com/2013/05/01/lex-machina-raises-a-round-as-ip-litigation-reaches-new-highs/

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One of the fundamental problems in intellectual property (IP) litigation is the lack of information available to both plaintiffs and defendants. The identity of the plaintiff and the defendant, the district(s), judge(s), and lawyers involved in a particular case, have a significant impact on the outcome of a litigation, including whether a particular litigation will proceed at all. While legal professionals have anecdotal and scholarly information on individual districts and judges, granular data on lawyers, courts, judges, and districts can be invaluable in litigation decision making.

Lex Machina, which just announced that it has raised a $4.8 million Series A funding round led by Boston-based Cue Ball Capital, aims to provide this information. As the number of lawsuits and verdict amounts increase to all-time highs, the information is becoming increasingly valuable. The company claims that total patent litigation cases filed have increased more than 100 percent in the last three years, and three verdicts over $1 billion for patent infringement have been awarded in the last eight months, while median damages awards in patent cases now exceed $4 million. Existing investors XSeed Capital, Costanoa Venture Capital, and Yahoo! co-founder Jerry Yang also participated in the round. According to Josh Becker, CEO of Lex Machina, Cue Ball found Lex Machina through AngelList.

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