Techpeek Magnus Solutions Private Limited

In their own words

Legal support was born by bringing a passionate group of lawyers and machine learning scientists to aid commercial legal claimants who cannot fund their litigation claims alone. We aim to provide access to justice for everyone and not just the wealthy through non-recourse funding. The recent pandemic has not only taken a toll on our health but it has also set us back a few years and most corporates and individuals have been unable to recover from it till now. There are numerous civil litigations pending in the court of law because of the lack of funds with the companies and individuals to spare money for their daily expenses let alone pay for the legal battles. The number of pending cases in the country is at an all-time high and it keeps on adding year after year, this would just worsen the situation in the foreseeable future if we do not try to address this situation at the earliest. We need to address the issue of both the burden on the Judges with such a huge pile of cases and at the same time the financial conditions of the person/entity fighting the case. A court case is well known to be an exhaustive process, not only physically but mentally and financially too. The key functions of our idea are: 1. Providing crucial financial assistance to ailing companies to ensure that their litigation claims are seen to fruition. 2. Augmenting the legal system by building AI assistant judges such that the workload of judges are greatly decreased and litigants and that the wheels of justice spin faster. 3. Providing unbiased legal opinions formed through the combination of artificial intelligence, data and human intuition. TARGET CUSTOMER Every single case holder who has a lack of funds and is in need of funding to get a substantial claim would be our target customer. There are millions of pending cases in India currently so the cases would not be the concern but the viability of a favourable settlement is what we will be judiciously processing before investing in the case. USP OF THE IDEA SOLUTION This main idea is to bridge the gap between the intricacies of the legal system by involving technology and legal knowledge in order to give a better resolution for the legal claims and at the same time solving one of the biggest problems in the legal system which is the number of cases processed by a judge. The burden of cases are increasing day by day but the number of judges hearing these cases are the same and hence we are developing a software which could make the work easier and faster and at the same time giving a boost to the Indian Legal System. In this rapidly growing world the aid to legal claims will see a paramount need and we want to play a part in it by giving not only legal remedies but also back it up with technology in order to gain the faith of the case holders. Every decision on legal matters is made by the case holder based upon the feedback given by their lawyer and most of the time no one gets the exact process of court or the chances of their winning in a certain scenario. We not only will invest in the cases where we foresee a favourable outcome but also provide consultancy services to the people who have ongoing cases in the court as to the viability of their winnings which would give them an upper hand while dealing with their lawyers. Educating the consumer with proper research and backing up the arguments with technological resources at our disposal would help us gain the trust of our clients. This is one of the most unique proposition we offer compared to other players in the market. In future we not only intend to fund cases but with the technological resources we are developing would change the perspective of a common man towards the legal framework of the country. We want to rebuild the trust a citizen of the country has over the Judiciary of this country. We will ensure that this common line “I’ll see you in court” gets its true meaning and every person gets access to this remedy in the most transparent manner possible. OUR COMPETITORS Current the only competitor we have in the Third Party Litigation Funding Part is Legal Pay which was established in 2019 and has achieved many favourable judgments so far using this model. In the technology part we don’t have any competitor as of now but we are sure there might be some similar research work being pursued by a lot of people and we want to have the first mover advantage in the market by speeding up this process. With the right amount of resources and a clear vision in mind we want to flourish as a tech-legal start-up which would be one of the first kinds in the market.

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