Lawptimize - Litigation Risk Management
The idea of creating a platform that will assist litigators in their strategy came to us about 12 months ago in August 2019. The core function of the idea is based around creating a decision tree structure for the process of the litigation which will calculate the expected gains and losses of the litigation by running Monte Carlo statistical experiments on the decision tree and predicting the outcome of the process based on various parameters.
Although in simple cases the calculation for the probability of the outcome could be pretty straightforward as there is always uncertainty in the probability itself we are using this uncertainty as part of the experiments for the final calculation.
The calculations also use variational principles for each of the choices in the litigation process that allows the end-user to find the weak and important points in the process in order to put more weight behind this particular trial or choice.
There are many more aspects in this platform which we will explore in other articles. We are passionate about science. We like to think that the application of mathematics in the law an important element of the way that a modern litigator will like to conduct his work. Lawptimize is the platform that allows him to do this.
We are launching in October 2020 in beta testing.