I love seeing innovation in the law field. This guy built an app that allows startup companies to organize in a way optimal to venture capitalists. His app is probably of interest to HN readers. However, the number of startups that need to be organized in order to please venture capitalists is an insignificant fraction of all the new business formations in the U.S. (less than 1% [1]) Therefore, "Disrupting the Legal Industry" is an overstatement at best, clickbait at worst.
@joshuaheard -- thanks for the comment. I think it's fair to say it's an overstatement. The tools we have live are merely around Delaware incorporation, and yes this is a minuscule piece of the big picture.
I think there's a few reasons why this is a very interesting and key piece, though. To my mind, here are a few reasons:
- modeling and automating corporate transactions starts with the easier stuff, and expands into more complicated transactions;
- the way VCs (or more broadly, the technology industry) set up companies (e.g., with vesting; transferring nascent technology and intellectual property) probably should be adopted more universally (not to say that many small businesses should be corporations);
- the technology industry sets trends.
Other in-roads we are working on that are also key to my mind are:
- integrating transactions and documents with cap tables;
- scripting complex documents with the full set of options the documents routinely cover;
- building in the models that frequently built in spreadsheets and circulated with documents.
[1] https://hbr.org/2013/05/six-myths-about-venture-capitalists