Have you already checked out Docracy ?To me, the service is one of the hottest new players in the “legal arena”. It will be very interesting to see what will happen with them and how the ecosystem and company will develop.
They describe themselves as “the web’s only open collection of legal contracts and the best way to negotiate and sign documents online”. To me there are seeds of revolutionary elements in this venture. This will level the playfield between the large law firms and individual contributors.
Once the template collection grows, which is deemed to happen, this will be a very useful service for many people and businesses. It is easy to see that also in-house lawyers and (at least small) law firms will benefit from this tool. In addition to contracts and online signing one interesting feature of docracy is their Terms of Service Tracker where they are tracking terms of service and privacy policies for hundreds of the world's top sites. They provide summaries of recent changes, and it is easy to access the complete terms for any of the sites they track.
Docracy is made in NYC. It will be very interesting to see how these kinds of initiatives will change the US landscape and how fast the ideas and initiatives will travel. Check it out.