FUNDING & M&A Harvey AI in advanced talks to raise $250 M at a $5 B valuation Ankar bags £3 M seed for AI-powered IP platform Factor acquires Theory & Principle for AI-first legal services PRODUCT LAUNCHES Rocket Lawyer launches Copilot Q&A AI assistant Pramata’s Contract Agent for Tariff Risk Analysis Herbert Smith launches AI Regulation Tracker REGULATORY DEVELOPMENTS US panel seeks public comment on AI-generated evidence rules EU AI Act obligations for general-purpose AI from Aug 2, 2025 Trump EO “Removing Barriers to American Leadership in AI” ADOPTION & ETHICS INCIDENTS Butler Snow apologizes for AI-generated false citations Womble Bond Dickinson: AI adoption surges and workforce impact AI hallucination incidents spread to major law firms PARTNERSHIPS & MARKET MOVES Legora raises $80 M at $675 M valuation; partners with Cleary & Goodwin Womble Bond Dickinson adopts Lega Inc’s AI governance platform Thomson Reuters launches AI transformation initiative for GCs RESEARCH & TRENDS FTI/Relativity: 85 % of in-house legal teams comfortable with AI ABA National Conference on Professional Responsibility panel “Speak Up for Justice” Forum on judicial independence Global legal tech investments reached $2.1 B in 2024 (Reuters)
