Reed Smith recently announced a joint venture with DolphinSearch to create ComplianSeek, a product designed to help investment advisors meet regulatory requirements. This looks like what I have previously called an embedded law system.
I previously suggested that law firms could and should create systems that “offer preventive law, detection of potential problems, and automation of routine legal tasks.” (More on embedded law systems here and here.)
ComplianSeek appears to do this:
“The ComplianSeek™ patented content search platform employs document selection criteria tailored to conform to the regulatory requirements of the Investment Advisers Act and provide investment advisers with a seamless retention and auditing environment that accommodates regulatory change as well as allows ready access to relevant email.”
This is not Reed Smith’s first foray into online legal services. In late 2003, the firm released its 5o-state guide to medical privacy law (see statehipaastudy.com or my blog post.)
It will be interesting to see if Reed Smith develops additional online services or if any other law firms follow suit.
I will add ComplianSeek to my online legal service list when I next update it.