How attorneys review, summarize, and abstract contracts has undergone some extensive changes in recent years. Technology-assisted structured data reviews changed the game, and now artificial intelligence promises to finish the transition into faster, more efficient, and more detailed contract insights. However, there are limitations to what artificial intelligence can do. At the bottom of any […]
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Strong returns and low risk are the perfect outcome for any acquisition, but it’s not one that’s easy to replicate. Successful programmatic acquirers pinpoint multiple small-to-mid-sized acquisition targets each year and navigate the closing process while generating shareholder value upon completion. What’s their secret to success? The answer depends on who you ask. McKinsey & […]
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Over the last decade, we’ve seen a dramatic shift in how contracts are reviewed, summarized, and abstracted. Our industry started with traditional legal summary memos and moved towards technology-assisted, structured data reviews. Now we’re fully immersed in AI-powered contract review solutions. Despite all the exciting possibilities these tools offer, there is a crucial element that […]
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As in-house counsel, there’s always an expectation to maximize your time and effort. However, not every request for legal input will be a cost-effective use of your time. Take contract review, for example. Some agreements require a nuanced and tailored approach to drafting and negotiation. Other agreements, once written, can be repeatedly reused as templates […]
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Once again, in-house legal professionals are being tasked with an all-too-familiar challenge: to find even more ways to trim down their budgets. The 2024 ACC Chief Legal Officers Survey found 42% of CLOs were asked to slash expenses last year. In fact, these financial headwinds pose a problem here and now, giving each decision or […]
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Our client (a multi-national manufacturing company providing services to customers in the energy services sector) required assistance with the migration of 1,200 customer contracts to a new contract management system (CMS). Their CMS vendor lacked the appropriate expertise to successfully manage the legacy contract extraction to enable the system implementation.
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Each new technology has offered opportunities and obstacles for the legal profession, whether it’s the introduction of online legal databases and filings or automated case management. Rather than shy away from new frontiers, adaptable legal professionals have embraced innovation to give them an edge in regulatory compliance, M&A activity, contract management, and more. Machine learning […]
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Will artificial intelligence (AI) eventually replace attorneys? People in the legal profession have mixed feelings on the matter. When lawyers and legal industry experts were asked about the potential of AI in a Thomson Reuters survey, their responses were ambivalent: 82% said generative AI can be used on legal work 51% said generative AI should [...]
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For every successful mega merger that generates billions in revenue, amplifies production, or reshapes the industry with its innovation, there are numerous M&A deals that fizzle or fall short of aspirations. Most seasoned M&A experts would tell you that one contributing factor in realizing the full value of an acquisition is the degree to which […]
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Corporations are always looking to improve their P&L by reducing expenses, but not all cost-cutting measures are created equally. In fact, an Orgvue survey found 93% of 500 corporate leaders made snap cost-cutting decisions within the last year—and 38% regretted the outcome. So, what are costs that the legal department can safely cut? Unrestrained outside […]
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