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How Tech is Redefining the Practice of Contract Law
Proofreading other attorneys’ work is easier than proofreading our own; we unwittingly infer intended meanings to our own compositions even if they are not clearly stated. Even so, without the right strategies and tools in place, proofreading legal agreements and drafts can be an uphill battle, especially when high-volume workloads, fatigue, and office distractions are factored into the equation.
Continue Reading →Although contracts comprise the foundation for many important B2B and B2C relationships, millions of hours are wasted each year reviewing them manually.
Continue Reading →Well-written employment contracts include mutually agreeable terms for both the employer and the employee. Whether you have five employees or five thousand, employment contracts outline rights and responsibilities — keeping employees happy by avoiding disputes and ensuring the business is running smoothly in the process.
Continue Reading →Now that in-person events are finally an option again, the legal community can resume one of its favorite activities: Networking.
The rest of 2022 is chock full of legal technology gatherings of all sizes and focus areas, and our team is jumping right in. How about yours?
Continue Reading →Companies have long relied on corporate legal playbooks as gatekeepers for essential clause inclusions and preferred negotiating positions. While many of these playbooks have since transitioned from a paper to digital format in many corporate legal departments today, legacy manual review processes face a new wave of change with the widespread adoption of contract review automation technology based on advances in artificial intelligence (AI).
Continue Reading →At scale, pre-execution contract negotiation becomes a drain on company resources. With 80% of sales teams authorizing over 500 contracts each month, process management becomes necessary just to keep up, let alone free up space to handle new business. To help alleviate the burden, online contract review can be outsourced to an Alternative Legal Service Provider (ALSP), but it’s also possible to boost in-house efficiency without much hassle by implementing an artificial intelligence (AI)-powered contract review solution. This article will explore the pros and cons of each approach.
Continue Reading →Tech tools and automation are necessities in today’s complex business world. Contract drafting software in particular is foundational for many corporate legal departments, greatly streamlining the process of creating agreements for two or more parties to sign.
Continue Reading →Automated contract review software entered the market just when we needed it the most. While legislation to protect consumer information privacy is crucial, given the rise in identity theft and subsequent lawsuits, rolling out this legislation has been anything but smooth. In the meantime, companies need to proactively define data use and protection to stay ahead of compliance issues. Data processing agreements and standard contract clauses are helping companies do just that.
Continue Reading →Financial institutions write tens of thousands of contracts each year. Some are privately negotiated while others are negotiated through public exchange markets. Different types of finance contracts are drawn up to balance risks and rewards, but their review and negotiation processes should never be overlooked. Increasingly, artificial intelligence (AI) platforms are being implemented to standardize and fully redline financial contracts by type, saving time by performing more thorough risk analyses.
Continue Reading →With its ability to seamlessly detect spelling and grammar errors, Grammarly attracted attention in the business world when it was first released in 2009. As an effective and easy-to-use application, it cemented its reputation as a fundamental business tool for working with documents.
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