LawGeex Blog

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  Outdated, paper-based practices can have damaging legal and business consequences, exposing a company to high costs and liability for contractual and regulatory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 a given deal due to inefficient contract processes. It literally pays to get contract management right. Unsurprisingly, contract solution platforms…
  As pioneers of AI contract review and creators of the Contract Review Automation (CRA) category itself, we are always interested in seeing new solutions come to market and their approach to automating the contract review process. In light of the growing number of companies offering varying degrees of contract review capabilities, we received several questions from customers and prospective customers about how these solutions should be evaluated. Recently, there have been attempts to answer…
  As pioneers of AI-driven contract review and creators of the Contract Review Automation (CRA) category itself, we are always interested in seeing new solutions come to market and their approach to automated contract review. While all CRA solutions leverage varying degrees of AI, we have divided these providers into two categories: Self-Service AI models (i.e., machine-only) vs. Supervised AI platforms that combine human intelligence with AI technology (i.e., LawGeex).    Quality is Table Stakes…
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 for Technology Adoption in Legal found that 81% of legal departments are unprepared to meet the speed at which digital…
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 of the contract, but the intent and objectives of the parties to it. Our technology not only automates the
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 the cornerstone of any major business deal. Using Contract Review Automation (CRA) will not only facilitate the deal…
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. And now, with the added pressures of the pandemic, uncertainty around the financial future of universities is at an all-time…
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. And now, with the added pressures of the pandemic, uncertainty around the financial future of universities is at an all-time…
  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 stable in the face of crisis and uncertainty. ‘Unpredictable’ remains the watchword for the near and mid-term economic landscape,…