ABSTRACT: In this paper, we investigate the application of text classication methods to support law professionals. We present several experiments applying machine learning techniques to predict with high accuracy the ruling of the French Supreme Court and the law area to which a case belongs to. We also investigate the inuence of the time period in which a ruling was made on the form of the case description and the extent to which we need to mask information in a full case ruling to automatically obtain training and test data that resembles case descriptions. We developed a mean probability ensemble system combining the output of multiple SVM classiers. We report results of 98% average F1 score in predicting a case ruling, 96% F1 score for predicting the law area of a case, and 87.07% F1 score on estimating the date of a ruling
Very excited to be here for the Futures Conference of the College of Law Practice Management. Tonight I will be induced as as Fellow of the College (along with a range of other inductees).
This is my Presentation for the NALP Conference on Emerging Legal Careers.
Honored to deliver the keynote at yesterday’s NALP Summit on Emerging Careers for Law Grads
From the release: “At their core, many academic and commercial applications of natural language processing and machine learning can benefit from a controlled lexicon of expert-selected terms (i.e., a dictionary). This is especially true of highly technical language, such as legal text. However, after a search of the existing landscape, we were unable to find a high-quality open source or freely-available legal dictionary. Instead, the best existing versions, when available, exist under some form of restrictive licensing conditions.”
“Thus, in furtherance of both the legal profession as well as a range of legal technology providers and solutions, we are announcing another step in our broader open source plan that we outlined earlier this month. Namely, we are making available on Github the 1910 Version of Black’s Law (i.e., Black’s Law 2nd Edition) as a structured data object. This early version of arguably the premier legal dictionary is made available under the open source GPL license 3.0 which should allow both researchers and commercial providers to operate with limited restrictions.”
This is an interesting development – click here to access story!
Here is Version 2.01 of the Law on the Market Paper —
From the Abstract: What happens when the Supreme Court of the United States decides a case impacting one or more publicly-traded firms? While many have observed anecdotal evidence linking decisions or oral arguments to abnormal stock returns, few have rigorously or systematically investigated the behavior of equities around Supreme Court actions. In this research, we present the first comprehensive, longitudinal study on the topic, spanning over 15 years and hundreds of cases and firms. Using both intra- and interday data around decisions and oral arguments, we evaluate the frequency and magnitude of statistically-significant abnormal return events after Supreme Court action. On a per-term basis, we find 5.3 cases and 7.8 stocks that exhibit abnormal returns after decision. In total, across the cases we examined, we find 79 out of the 211 cases (37%) exhibit an average abnormal return of 4.4% over a two-session window with an average |t|-statistic of 2.9. Finally, we observe that abnormal returns following Supreme Court decisions materialize over the span of hours and days, not minutes, yielding strong implications for market efficiency in this context. While we cannot causally separate substantive legal impact from mere revision of beliefs, we do find strong evidence that there is indeed a “law on the market” effect as measured by the frequency of abnormal return events, and that these abnormal returns are not immediately incorporated into prices.
As my part of my final day in Amsterdam – it was my great pleasure to join with my friends from the Dutch Law Firm – Kennedy Van Der Laan (co-founded by the Mayor of Amsterdam Eberhard van der Laan) for a Legal Innovation Event. The event combined sessions in data, technology and design thinking for a variety of European General Counsels.
It was a pleasure to give a half day workshop to Law Firm Leaders from across Central America and South America as part of the IE Law Executive Education Program here in Miami. Thanks to all of the participants!