We are proud to present our groundbreaking AI Project
MR LOMAX, your own AI Lawyer
Project Overview
- Our Artificial Intelligence project aims to develop advanced algorithms and machine learning models to offer simple to midrange legal consultancy and information services in the B2C sector in Germany
- Our goal is to collaborate with the German government to equip all courts with our AI, enabling pre-approval of civil law court decisions before their release.
Problem Statement
Law consulting
The legal consulting market in Germany requires significant financial and time investments to address basic client inquiries. For instance, a simple consultation with a lawyer typically costs around 200 euros. (By law, the minimum fee for an initial consultation is set at 190 euros, increasing to 250 euros if provided in written form).
Civil court system
Many civil court decisions lack coherence with current legislation or established precedents. Nearly 30% of all first instance court decisions are overturned at the appellate level, and an additional 10% are overturned at the supreme court level. The outcomes in civil cases frequently hinge on the subjective disposition of the presiding judge.
Basic data on German Law Consultancy Market and Courts
The approximately 63,800 companies and institutions in Germany’s legal consulting sector recently generated over 28.8 billion euros in revenue. More than three-quarters of these entities are organized as sole proprietorships. As of January 1, 2022, there were around 165,600 license lawyers in Germany.
There are 1085 courts in Germany, each court could pay a monthly fee from 3.000-10.000 Euro a month. Alone to Governmental cooperation could bring 10 Million USD a year.
Prediction
- A subscription priced at 15 EUR per month, comparable to Netflix, will make legal consulting affordable for everyone. This model has the potential to revolutionize the consulting market and attract millions of users within 1-2 years.
- "The Lomax Project" can also generate revenue from clients seeking to pursue their legal matters in court, utilizing either our in-house lawyers or subcontractors. Capturing just 1% of the market could generate 280 million euros in annual revenue.
MVP
The MVP, built on OpenAI GPT technology, is now ready for testing. It is equipped with a comprehensive database of all court decisions and laws in Germany and has already undergone initial testing. Additionally, Mr. Kobrel has uploaded his entire database of litigations accumulated during his years as an active lawyer. Simple questions are answered accurately, and PDF files are thoroughly analyzed by the AI.
Legal Stuff
There will be a LLC in Dubai owning the right to the “digital asset” Our liability will be limited and the cosnultation will be only for informative and entertaining purposes. Terms and condition will define the app as an “entertaining app” , or a “chat app”. Fox example Open AI´ s Chat GPT is informing clients over complex tasks, that the app doers not substitute a legal consultancy, also to contact a professional. We will do the same. So we will be out of the liability or regulations.
Competition
As of July 1, 2024, there is no comparable competition in Germany. We believe this is due to a lack of courage within the legal industry. Our solution will disrupt the traditional legal consultancy market.
Roadmap
- Gathering investment commits, up to 1 million (for 20% of shares, company evaluation at 5 million USD)
- Setting up a “digital assets” company in Dubai, IP owner
- Getting seed investments, max. 1 Million USD (for 20% of shares)
- Recruit an on-site IT team to ensure cohesive development.
- Creating a “Gateway” APP based on one the best LLM Chatbot (Open AI or other)within 2 months.
- Uploading the APP to the App-Stores
- (Optional)Investment round A, 1 Million USD (10%of shares)
- Launch marketing efforts to drive user acquisition.
- Acquire 500,000 users within one year, targeting $5 million in annual revenue after app store deductions
- (Optional) Investment round B, 5 Million USD (10% of shares)
Investment opportunity
We provide you with an opportunity to invest* in our startup, at the starting evaluation of only 5.000,000 USD
*Maximum investment volume 1 Million or 20% of shares
Team
Roman Kobrel,
German Lawyer
Founder
Mr. Kobrel, a former German lawyer, led an international law firm based in Hamburg Germany for 12 years, with branches in Moscow, Dubai, Almaty, and Hong Kong.
He aims to revolutionise the law and accounting consulting market in Germany and later in Europe, through the implementation of an AI Lawyer primarily for B2C use, with a secondary goal of integrating his algorithm into the entire legal system of Europe.
A small team of IT Developers is waiting in Kasachstan and is ready to start working.
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