Lexata

Lexata is a legal research company specializing in capital markets rules and compliance within the legal sector. It offers a searchable database of United States and Canadian securities laws and an AI-powered tool that provides answers to compliance questions for public companies, investment banks, law firms, and investment funds. Founded in 2020 and based in Charlottetown, Canada, Lexata leverages a curated database of US and Canadian Securities Laws combined with GPT-3 technology to allow users to quickly access reliable responses to complex securities law queries. In July 2023, Lexata partnered with Fasken, a leading Canadian law firm, to enhance the use of generative AI in legal research. This collaboration aims to provide AI-generated answers with identified specific sections of law from a multitude of sources, ranked by relevance in response to user queries. The platform transcends traditional keyword and boolean search methods by hyperlinking cross-referenced rules and delivering real-time definitions for legal terms. This partnership signifies a significant advancement in integrating AI technology into legal research, offering more efficient and accurate tools for legal professionals.