Contract management is not a simple task. It should be. It can be. But for many companies it presents a formidable challenge. Outdated, paper-based practices can have damaging legal and business consequences, exposing a company to high costs and liability for contractual and regulatory non-compliance. Companies typically lose between 5% to 40% of value on … Continued
Industry 4.0 is coming for legal departments. From cloud services to artificial intelligence, innovative technologies are changing the way legal teams work. The Fourth Industrial Revolution is also changing companies’ expectations of their legal departments. For some, digital transformation is disconcerting. Lawyers are notoriously risk-averse, which leads to slow adoption of new technologies. Gartner’s Roadmap … Continued
Crisis-oriented or just the usual daily routine, the daily work of legal experts has become more results-driven and requires a greater emphasis on efficiency and improved processes. Adopting technology can be the first step towards this, especially for reviewing routine contracts like NDAs, SLAs, or DPAs. These contracts specify the binding agreement between parties and form … Continued
Rethinking the legal function is no longer optional for corporate legal departments. It has become essential to ensuring that companies continue to operate effectively during times of business uncertainty. For financial services and insurance companies to thrive, rethinking how Legal operates is a must. Legal workflows have always been labor intensive and costly. With limited … Continued
In a landmark study, 20 top US corporate lawyers with decades of experience in corporate law and contract review were pitted against an AI. Their task was to spot issues in five Non-Disclosure Agreements (NDAs), which are a contractual basis for most business deals.
Noory Bechor, CEO, and co-founder of LawGeex In 2018, LegalTech investments are rapidly closing in on the $1billion mark, with three months of the year still remaining.
It’s been a scorching summer in many parts of the world. But oblivious to heady nights, tequila and sunburn, the world of LegalTech continued its momentum with major deals and talking points. Here are five things you need to know, and probably missed, over the summer.
In a series of monthly interviews, LawGeex speaks to law departments adopting legal technology to enhance productivity. Here, we speak to Aaron Van Nice, Director, Legal Operations, Baxter Healthcare
Your time is short. This quick read gives you 5 things you need to know from LegalTech in the past seven days.