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 Outdated, paper-based practices can have damaging legal and business consequences, exposing a company to high costs and liability for contractual and regulatory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
Today I am extremely proud to announce that LawGeex was granted its first U.S. patent. The patent, US 10,891,699 B2, recognizes our leadership in the legal technology community, and the proprietary algorithm behind our Contract Review Automation solution. At the core of LawGeex’s tech stack is a contextual AI-engine that understands not only the language … 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
The financial toll of Covid-19 has been devastating for universities. But institutions have been struggling long before the coronavirus pandemic tore through higher education budgets, and the sector is now at a turning point. Deep state cuts in funding, declining enrollment rates and plummeting net tuition revenues have all contributed to the alarming downward trend. … Continued
Moving from simple risk management to antifragility is a critical new capability that legal teams worldwide are striving to attain. Antifragility has become key in sustaining organizational objectives in a time where performance and security are critical attributes for business survival. The rationale is simple. Fragile systems break when unexpected things happen. Robust systems remain … 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
Recent months have seen well-publicized developments in the legal industry as Axiom abandoned its IPO plans, and Atrium shut down. Meanwhile, investment continues to pour into LegalTech, and companies such as Linksquares, EverLaw and Eigen score large investment rounds to continue product development and expansion. What gives? Are there commonalities between these two groups? The … Continued
The GDPR is the most significant data protection shake-up in 25 years. What has become evident in the almost 2 years since it came into force, however, is that many businesses are still struggling to understand and implement it. Many of the headlines have been security-focused or riddled with consternation and the burden for businesses. … Continued
