Have you ever wanted to found a tech company but needed the right idea? A California company called LaunchFactory has the ideas and is looking for founders to take them on – including in the legal tech space.

The company takes a decidedly unique path to launching companies. Rather than invest in existing startups, it identifies and vets startup ideas and then recruits entrepreneurs to launch them.

It provides these founders with $300,000 in seed capital, domain advisors, incubation tools and office space.

For 2021, one of the companies for which LaunchFactory is seeking founders is in legal technology, a vertical the company's founder and CEO Brad Chisum believes is ripe for disruption. A second company this year, involving data privacy, borders on legal tech.

On today's LawNext, we're joined by Chisum, who founded LaunchFactory after selling his former company to Google for $85 million, and by Alessandro Rinaldi, who, as director of innovation, leads the ideation of new startups.

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