The suite of functions, which is part of the West Coast-based firm`s Emerging Companies (ECP) practice, is designed to help startups “streamline, automate and digitize” key legal steps around starting a business, ownership issues, and even exiting the business. Wilson Sonsini is a leader in introducing and providing technology solutions to improve legal services. Recently, Wilson Sonsini`s ECP launched a new knowledge bank and digital hub for startups, founders, and venture capitalists to access its legal expertise. Earlier this year, Wilson Sonsini announced a deal with Morgan Stanley to integrate Shareworks into Wilson Sonsini`s proprietary capitalization management software. In 2019, Wilson Sonsini launched its technology subsidiary, SixFifty, which has since developed and deployed tools that help in-house counsel address ever-evolving legal areas such as privacy and return to work. The concept of Neuron is to be a “neuron”, if you will, that acts as a smart link between the different elements of the client`s digital legal experience, as well as between the client and the lawyer. Although Neuron includes document automation, it is a relatively small part of the platform. Wilson Sonsini Goodrich & Rosati is disrupting the way the company serves its start-up customers with a new software platform that streamlines and automates regulatory requirements throughout a company`s lifecycle. Launched Neuron, a new platform that streamlines, automates, and digitizes typical legal processes throughout a startup`s journey from inception to exit. Our company has been synonymous with innovation since the founding of Silicon Valley. Once again, we are revolutionizing the industry by combining our expertise with digital automation to offer you a new type of technology-based legal services. Being able to access all my legal documents whenever I want is incredibly helpful and has saved us valuable time.
“We are building an enterprise technology solution with the same level of sophistication that our start-up customers expect from their own products to meet their need for fast, frictionless but highly personalized service. With Neuron, ECP can allow founders to focus on growing their business instead of focusing on labor-intensive legal processes,” said David Wang, Chief Innovation Officer of Wilson Sonsini. “Neuron is our next paradigm leap in the transformation of the legal industry. Our ECP lawyers have advised hundreds of thousands of startups and know what entrepreneurs need to succeed. We have combined Wilson Sonsini`s world-class legal expertise with automation to provide our clients with high-quality, responsive and efficient technology-based legal services,” said Raj Judge, Senior Partner at Wilson Sonsini and Co-Chair of ECP. Each of these fundamental trades is actually a change to the capitalization table at the base. And so, when you do a financing, you issue new shares, which means that on your cap table, your new investor, I don`t know, let`s say Sequoia, enters and Sequoia now holds 25%. The shares of everyone else are diluted. When you do an IPO, you make an offer to the market. Public investors will come, they will change your capitalization table. Thus, legal documents are the source of information that is ultimately reflected in the source of truth about the company.
And as custodians of the Company`s records and related legal documents, and to ensure that it complies with securities laws and other regulations, lawyers and paralegals work day in and day out to confirm, update and support documentation regarding changes to the table of limits. As part of its ongoing commitment to the global startup ecosystem, leading technology law firm Wilson Sonsini today unveiled Neuron, the latest step in the firm`s mission to revolutionize the legal industry. Neuron, the digital home for a startup`s legal needs, is a next-generation proprietary software platform that streamlines, automates, and digitizes the legal processes typical of a startup`s journey from inception to exit. We have been facing this problem for years and we are preparing for this digital transformation with a number of initiatives. The scale of the challenge has forced us to develop skills and expertise that law firms do not have, investments and relationships in the digital legal ecosystem in strategic industries that we need to tap, and the maturity of our strategy and thinking, bolstered by the success of our legal innovation/technology portfolio that you are familiar with. This transformation involves connecting the entire process of data collection, client interactions, document preparation, process management, signature creation, etc. into a digital experience, while a Wilson Sonsini attorney is integrated into the legal advice and personalization process. Deliver that unified service experience that creates new value and what we call a “technology-based service.” Neuron is the tool that enables this digital service delivery, not a “document automation tool”.
And you might add that if you want to be a law firm that attracts young founders of revolutionary new companies, it makes a lot of sense to offer a set of tools you can use to quickly clarify your core legal needs, all digitally.