Bootstrap Legal uses artificial intelligence to ask investors a series of questions which allow the software to generate legal documents which are checked by an attorney before being emailed to the investor within 48 hours.
The service is designed for transactions of up to U$2 million with cutting both costs and time in mind, while offering the ability to connect to a lawyer when required.
"The one thing I heard from my clients as an attorney was the importance of speed. Sponsors need to maximize the amount of time they have to raise capital for a project prior to close of escrow. Everyone always wanted to start fundraising yesterday," said founder and lawyer Amy Wan.
More market update:
Investing in real estate can mean costly legal fees but a US technology firm is claiming a world first; a robo-lawyer for real estate investors.