LAWGEEX ANNOUNCES WORLD’S FIRST CONTRACT FIREWALL™ SOLUTION6th October 2020
LawGeex latest release offers at-scale, AI-powered active protection against contract risk
NEW YORK, NY, October 6, 2020 — Global LegalTech leader LawGeex announced today the launch of the 6th generation of its industry-leading platform for pre-signature Contract Review Automation (CRA).
The new version introduces the world’s first Contract Firewall™ solution. Like computer system firewalls, LawGeex monitors contract activity in real-time based on predefined legal policies to protect against risk in contracts under negotiation. It diagnoses, redlines, and fixes contractual issues during negotiation, delivering dramatic risk reduction across all routine contract types, in turn driving sustainable business growth at scale.
“Gone are the days when legal teams could only focus on high priority contracts due to lack of resources,” says Noory Bechor, CEO and Co-Founder of LawGeex. “The legal equivalent of a firewall for contract risk would be impossible without automation, and LawGeex employs its industry-leading AI to neutralize risk in these uncertain times.”
The deepening and continuing impact of Covid-19 has shown that every contract – and every legal concept it entails – opens the company to vulnerability. Legal teams have the burden of ensuring their organizations are protected against risks that were once remote and nearly theoretical but are now very real. This challenge is compounded by the unparalleled cost and headcount constraints they’re facing, which are causing much higher workload (per a recent article by Artificial Lawyer).
LawGeex V6 has expanded to provide coverage for all routine contract types, including first and third-party paper, and all iterations required to get the contract ready for signature. Unlike other solutions that only perform initial issue spotting and risk analysis across a limited set of contract use cases, LawGeex’s active firewall protection identifies and fixes problems in real-time across all routine contract use cases.
“We’ve all heard the horror stories of companies going under due to a single contract. I need all the ammunition I can get in my fight against contract risk,” says Nicole Ducharme, Director, Contract Negotiations at DataRobot. “LawGeex is my ally in this fight. It has been critical to keeping our contract work flowing through COVID; we’d be overwhelmed without it. LawGeex does a very thorough job so we can have lawyers doing more critical work.”
For more information about LawGeex, please visit blog.lawgeex.com.
The LawGeex AI-powered platform reduces cost and accelerates deal closure by automating the complex legal work of pre-signature reviewing, redlining, and negotiating contracts. Legal teams can offload routine work to refocus their efforts on strategic issues and reduce risk and cost. LawGeex has been recognized by Gartner and HBO as a leading force in bringing powerful innovation and technology to the legal world. Dozens of Fortune 500 and Global 2000 companies—including HP, eBay, and GE Power—trust LawGeex.