Innovating the Legal Industry

How Tech is Redefining the Practice of Contract Law

Is a Contract Review Attorney the Best Bet for My Business?

February 10, 2022

Every business will eventually face a contract review decision—whether to outsource a third-party provider, hire one or more contract review attorneys in-house, or hire non-legal personnel to handle agreements.

Generally speaking, contract review attorneys can offer a corporate legal department a tremendous amount of legal expertise, experience, and oversight. However, they are not the least expensive option for fulfilling contractual needs; it’s worth considering alternatives, particularly if your business is scaling. 

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How AI Accuracy in Technology Optimizes Contract Review

February 3, 2022 Advances in artificial intelligence (AI) over the past decade have revolutionized everything from vaccine therapies to self-driving cars to legal contract review. These technological innovations have allowed machines to adapt to complex rules and environments that may change over time. As a result, legal tech implementations are expanding across corporate legal departments. Presently, some of the most successful AI implementations involve attorneys and machines working in tandem. 
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Should a Director of Legal Operations Be Your Next Hire?

February 1, 2022 The Director of Legal Operations has become an invaluable position in today’s large and medium-sized corporate legal departments. In response to the rapid pace of advances in legal technology over the past five years, the Director of Legal Operations recommends and implements innovations that increase legal department efficiency, productivity, and accuracy. Below, we’ll explore the position in more detail to discover specific opportunities it can bring to your legal department. 
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Contract Review Software vs. Contract Lifecycle Management Software

January 27, 2022

Rapid advances in legal tech have resulted in an assortment of solutions that can leave buyers confused when trying to determine the right product to fit their needs. There is a good chance you’re wondering just what the difference is between solutions for contract review , contract negotiation, contract analysis, contract lifecycle management, contract management, and contract tracking.

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Contract Administrator vs. Contract Specialist: What's the Difference?

January 13, 2022

While the differences between a contract administrator vs a contract specialist are sometimes subtle, they are significant. For instance, one way to differentiate the roles is by recognizing that contract administrators regularly fulfill a project management role while contract specialists often provide logistical support. However, these are not the only two positions dedicated to the contract approval process.

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What Types of Contract Approval Software Are Available?

January 11, 2022

Corporate legal departments are increasingly implementing contract approval software to mitigate risk and improve inefficient processes. However, it can be difficult to choose the right product without knowing what’s on the market. The following guide breaks down five types of contract software and outlines the benefits of each.

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Contract Optimization for Faster Agreements and Better Results

January 6, 2022

Standard agreement provisions dictate up to 80% of all business transactions—including price, buyer and seller terms, regulatory compliance, and accountability. The typical Fortune 1000 company maintains 20,000 to 40,000 contracts. Large corporations like Walmart typically oversee more than 100,000 agreements with global suppliers each year. For large companies the  lost potential revenue and waste in the contracting process can be tremendous; for smaller companies this loss and waste can produce even greater impacts on the bottom line and growth.

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