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AI is reshaping contract review in the legal industry, boasting higher accuracy and speed compared to human analysis, while still facing challenges with context and nuanced interpretations. This blog compares the strengths and limitations of both approaches, illustrating how tools like Speedlegal's AI empower users to grasp complex contract provisions efficiently.

Learn how AI, NLP, and machine learning are changing the way people review and sign contracts.

Understanding contract review in simple examples and terms

Legal departments do more than just manage risks—they help businesses succeed. With the rise of digital transformation, it’s essential for legal teams to embrace technology. This blog highlights five ways tech can transform your legal operations: automate routine tasks, use data for smarter decisions, collaborate better with cloud tools, stay compliant with AI, and manage spending efficiently. By adopting these strategies, your legal team can work faster, save money, and add even more value to your organization.

Contract automation is changing the legal industry by using AI to save time, reduce mistakes, and lower costs. This technology makes it easier to create and review contracts and stay compliant, allowing legal teams to focus on more important work. By adopting contract automation, law firms and legal departments can improve their efficiency and deliver better results.

Collaboration between Humans and AI in Contract Review and Management.

Welcome to your ultimate guide to contract redlining!

Drafting and negotiating contracts with AI co-pilot

Explains current practices of AI in legal tech and future tech in legal.

Clickwrap agreements are digital contracts that users consent to by clicking a button or ticking a checkbox that explicitly states agreement, such as “I agree” or “Accept”.

Streamline contract review and mitigate legal risks with AI-powered language analysis tools. Leverage advanced natural language processing for affordable, comprehensive contract management tailored for small businesses.

Cut legal costs without quality loss: Embrace LegalTech, outsource smartly, adopt proactive strategies, and educate employees for savings.

Unlock contract management excellence with Data Analytics! Elevate precision, mitigate risks, and save costs. Explore the future with SpeedLegal.

Navigate the dynamic landscape of Contract Management Software in 2024! AI-driven visibility, NLP simplifies contracts, Blockchain security, CLM integrations, and more for organizational excellence.

Find the answer to the long pending question - Is Legaltech really affordable? In this blog, we dive deep and answer this question once and for all.

What is the impact of cloud-based SaaS on the legal industry and why is it poised to become the future of Legaltech? Find out in this blog.

Choosing the right Legaltech tools can be overwhelming for a small law firm. And with so many options available in 2023, it's important to make informed decisions that will benefit your business in the long run. Get the guide to choosing the right Legaltech tool for your need here.

Contract renewal clauses are included in almost all contracts. It's important to understand how to renew your contracts efficiently to make the most of the opportunity. Read the blog to find out

Are you ready for the future of contract management? The world of digital contracts is constantly evolving and 2023 is no exception. Don't get left behind, stay ahead of the game with the latest insights and predictions for contract management. Find out what's next for CLM in 2023.

If you are a founder or CEO, you know the importance of streamlining processes and maximizing efficiency in order to scale your business. In this blog, we'll talk about how Claustack is making it possible with OneNDA and OneDPA. We'll also talk about how you can streamline your legal processes with SpeedLegal and Claustack.

Are you struggling to keep track of your company's contracts and agreements? Are you worried about missing important deadlines or violating compliance regulations? If so, you may want to consider implementing contract management software. But is this tool right for your business? In this blog, we'll explore the industries that stand to benefit the most from contract management software and how it can help streamline your processes and reduce the risk of mistakes. Read on to see how contract management software can improve your operations.

Contract Management comes with its own challenges. What are they, and how can they be addressed? Let's find out.

As the business world becomes digital, electronic contracts come in handy on daily basis and they can easily be lost, misplaced, or accidentally destroyed. The old school techniques and on paper contracts just don’t work as efficiently anymore. Failure to protect contracts and the information they contain can put you and your business at risk. In this blog, we'll find out if your contracts are secure and what to do if they aren't. We'll also cover everything you need to know about contract security so that you can reduce the risk of contracting.

The field of CLM has changed a lot in recent years. Legaltech companies are coming up with more innovative and better solve to make managing contracts easier and faster. Here are 5 upcoming trends in CLM that you should look out for.

We have seen how complex and not user-friendly modern contracts are. The documents are written in black and white text, using " legalese" language, with no page layout design. As a result, contracts often end up in drawers and are unused. So how can contracts be designed so that everyone can read and understand them? And why is it so important to make it user-friendly in the first place?

Learn what it means to be a legal technologist, and how you can get more involved in Legaltech from Christopher Tart-Roberts, Head of Lawtech at Macfarlanes.

There are more than 2500 tools for the legal industry at the moment. On the surface level, many of them might look similar, but a few are truly innovative and disruptive in the Legaltech sector. Which ones are they? Read this article to find out.

We have heard a lot about Legaltech and its glory in recent times. The most common terms used are artificial intelligence and machine learning which are the core of the tech industry, but do we understand what work it takes to get the desired result from an AI program implemented in a Legaltech company? Have we thought AI and ML are not just some magic pills, but a system designed to ease human jobs? let's take a look at what work it takes to make Legaltech a one-step solution

Electronic signatures are at the heart of the paperless workflow. This is why their use has increased dramatically in the last few years. If you're thinking about using electronic signatures in your organization, the six proven benefits outlined below should be enough to push you over the edge.

The top legal tech companies always seem to be on the brink of failure. Why do you think that could be? Read the article to know about it.

The industries of the future are all powered by tech‍. Technology is without a doubt the number one industry and it enables other industries to flourish as well. But one industry has benefitted from it the most. The Finance Industry. How? Read the full article to know.

Before you legally bind yourself to oblige to some terms and conditions, make sure you've thoroughly checked the contracts for these key points👇🏻

86% of lawyers view legal technology as an imminent threat to client business. Some lawyers fear that the profession could be “taken over” by automation and technology, with human lawyers being completely replaced. Others see their role as expanding: technology can perform routine tasks, freeing up legal professionals to focus on more creative work. But what does this mean for those who want to become lawyers? Will it be possible for them to find a place in this new world?

Women. Law. Technologies. Not three words that would have been placed simultaneously in the past, and certainly not three words that would make up a woman's professional career. However, the focus here is on the past - it's not just women in legal tech anymore, it's successful women in legal tech who are disrupting not one, but two, traditionally male-dominated professions. Read how women are taking the lead in Legaltech companies and what it means for the Legaltech Industry.

The function of a General Counsel is transitioning away from that of a legal expert and risk management and toward that of a business facilitator. And the adoption of Legaltech is increasing in the new age General Counsels. Here's an article on how GCs in different countries are approaching Legaltech.

Contracts are at the core of every business. But the traditional way of drafting, negotiating, and discussing the terms of contracts, again and again, can be time and cost-consuming. This is where Legaltech comes in. Read how Legaltech can help in managing business contracts.

Why do we need to use jargon when it comes to legal documents? Why can't attorneys just use plain language for it? This question comes to a lot of minds every time they open a legal document. Here's why we need it👇🏻

Is AI taking over the world? What does it mean for the legal industry?🧑🏻‍⚖️ The possibilities of what AI can achieve are endless. Learn how companies are using AI to reach the next level of automation.🤖 Read the full article here👇🏻

Storing and managing 100s of contracts and documents is tiring. And not being able to find a specific one from them when you need it is just so frustrating.😖 Thanks to AI and Contract management systems, now they don’t have to be. Learn how AI can help you in organizing and managing contracts better👇🏻

Can a lawyer be a programmer?🤔 What a weird question right?🙄 Turns out you can. And in fact a good one. But should you even try?🤷‍♂️ Here’s why we believe you should👇🏻

Employment contracts can be tricky.📃 And you don’t always know what EXACTLY you are signing up for. Here’s a guide you can refer to before signing any employment contract. This will help you understand what to look for in such contracts and what to beware of.👀

Do you know that legal chatbots are available 24/7, offering instant support to clients and eliminating the need to call or email a law firm’s staff?

A Legal Trends Report 2020, believes that attorneys on average record only 2.5 billable hours per day, with the rest of their day consumed by less important non-billable tasks.

The security of clients’ data should be the top priority for any business, especially if it’s a legal profession. The American Bar Association’s (ABA) Ethical and Model Rules of Professional Conduct mandate lawyers to make every reasonable effort in protecting the client’s information, otherwise face serious legal implications if a breach occurs. 

What will it take to be a successful law firm in 2022? As the world is not yet over with the pandemic and the industries worldwide are dealing with its consequences, it’s now more important than ever for lawyers to stay acquainted with legal technology trends that they should consider adopting in their private practice, or for their firms. 

Delay in the signing of NDA = Delay in sharing of confidential information = Delay in business projects

“Digital adoption has taken a quantum leap” due to the pandemic, with companies transitioning to remote work “40 times more quickly than [executives] thought possible,” according to an October 2020 McKinsey report.

That old cliché “time is money “is as useful for a Big Law as for a Solo law firm. Find out how you to save 30% of the legal team’s time with technology, which means more money.

Are you overwhelmed by spending precious business hours on reading and managing tons of contracts than getting real-work done? Let’s automate contracts.

Having a good set of questions to ask before talking to any legaltech vendor and a checklist of the state-of-the-art functionalities that modern Legal AI software should have, is really important.

Are you signing an NDA? Check whether each clause is in line with market standards. This article provides data-driven insights into how NDAs are actually used in practice.

In recent years Blockchain has created quite a buzz, and could quickly make its way into the legaltech sphere. However...

There are many software applications that have been introduced in the legal field with the usage of Artificial Intelligence, but not necessarily each and every lawyer...

No doubt real estate transactions involve intricate processes -beginning with a letter of intent and finishing with a final closing agreement...

Those Lawyers Not Adopting Legal Technology Could Ultimately Miss Out On "A Very, Very Unfair Advantage".

As New Tools Are Made, What Will Soon Separate Success From Failure Is The Ability To Use These Tools In A Fast And Effective Way.

AI Has Made Its Own Niche In Optimizing An Attorney’s Work. This Paradigm-Shift Has Led To Certain Gaps In The Implication Of Professional Ethics...

Looking At History, The Legal Sector Has Taken More Time Than Other Sectors, On Average, To Adopt New Technologies.

COVID-19 Has Forced Essentially Every Industry, Including Law, To Digitalize. Although The Resistance To Innovation Of This Sector Is Strong...

Inside The Article, All The Major Advancements That Have Contributed To The Further Digitalization Of The Legal Profession.

Research Shows That Inefficient Contracting Causes Firms To Lose Between 5% To 40% Of The Value On A Given Deal.