Innovating the Legal Industry

How Tech is Redefining the Practice of Contract Law

Automated Contract Redlining Redefines Contract Negotiations

November 18, 2021

Corporate legal teams seek innovations that will accelerate the contract approval process without exposing their company to risk. Speed and efficiency are prerequisites as legal departments experience an increasing volume of new Master Service Agreements, Non-Disclosure Agreements, Software Licensing Agreements, and Partnership Agreements each year. When industry “best practices” fail to expedite traditional redlining processes, consider how an artificial intelligence (AI) platform can automate your department’s workflow. 

Continue Reading →

How Self-Service Contracts Are Automated With AI

November 11, 2021

Self-service contracts are used primarily by companies managing 20,000 to 50,000 documents concurrently, including sales, product, service, consulting, benefits, lease, licensing, and non-disclosure agreements. Companies use self-service contracts to manage procurement, hiring, provider relations, and more. Across applications, self-service contracts enable faster contracting with a “one-click” approval process; however, expediency too often increases the risk and frequency of errors.

Continue Reading →

The Contract Review Process: Updated and Automated

November 9, 2021

Three basic stages define the contract review process: negotiation, revision, and execution. And each stage is accompanied by unique risks and delays — especially when legal departments rely on manual review and negotiation processes. The negotiation stage alone can sometimes take months.

Continue Reading →

Save Time and Money on Legal Operations Training with Automated Contract Review

November 4, 2021

The need to streamline legal operations training has increased in recent years, with legal teams experiencing heightened pressure to minimize costs while delivering timely and accurate contract reviews. Gartner has found the most cost-effective legal departments invest significantly in training. Rather than outsourcing, they’ve found ways to harness new technology to retain in-house review and negotiation capabilities.

Continue Reading →

The Digital Transformation of Contract Management

November 2, 2021

The first contracts date back 4,000 years to the “cradle of civilization” in Mesopotamia. Since then, legal teams have come a long way from these rudimentary tablets, with recent technological advances greatly accelerating the pace of change. In response to the digital transformation, contract management has experienced an enormous amount of change. This brief survey of legal innovations over the past 20 years culminates with an overview of artificial intelligence (AI) technology that is revolutionizing today’s leading-edge corporate legal departments.

Continue Reading →

How Legal Innovation Is Changing Corporate Legal Departments

October 26, 2021

Legal innovation is driving changes across corporate legal departments. And while the pandemic has accelerated technology adoption throughout the legal field, the roots of legal innovation predate the pandemic. For years, corporate legal departments have faced increased workloads, reduced budgets, and a reliance on remote work. As a result, legal departments have increasingly relied on technological advances. Artificial Intelligence (AI) powered contract review solutions, workflow management software, and legal business intelligence technology are all helping departments increase their productivity and quality of work.

Continue Reading →

Effects of the Digital Business Transformation on Corporate Legal Departments

October 19, 2021

The most innovative corporate legal departments are embracing digital business transformation. Today’s legal teams can leverage technology to increase productivity, conserve resources, mitigate risk, all while continuing to deliver value in a highly competitive and constantly evolving business environment. Cloud computing, workflow management systems, and artificial intelligence represent three essential components in any leading-edge technology stack.

Continue Reading →

What Is Contract Review Software?

October 14, 2021

Corporate legal departments consider contract review software to be one of the top technology solutions to streamline operations. Nearly every lawyer struggles to accomplish more with fewer resources in response to pandemic-related staff cuts and remote work requirements. Intuitive contract review software helps these attorneys save time, improve processes, and enhance negotiations.

Continue Reading →