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My Reed Smith colleagues and I have used Legaltech Hub to identify current providers of technology solutions. It is really helpful to view all the tools in one place, consistently categorised by solution type and key features.

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A decade ago, it was reasonably easy to keep on top of what legaltech products were out there. No longer! Nikki, Jeroen, and team have built a comprehensive resource that legaltech buyers can use to find tech meeting their needs, and where vendors can get information in front of prospects at the relevant moment. Worthwhile offering from a respected (and excellent) group of people!

Fireman &amp; Company's clients expect us to be current on the latest innovative technology solutions. It used to be difficult to navigate the legaltech market and explore new tools and platforms. Legaltech Hub changed that - I now have one place to go where I can easily find all the information I need.

The legal tech industry is moving at such a fast pace and a big part of my job is to stay on top of it all. Legaltech Hub is my go-to resource for any research I need to do on new companies and products.

Law Firms

Corporate Legal

AI tools for data extraction, document manipulation and workflow automation. Use cases include NDA mark-up and LIBOR repapering.

English

Scissero

Brazil

Neutral

Europe

North America

Contract negotiation software is used for pre-execution contract review, helping lawyers with review of third party documents and negotiation. The flow of advanced tools involves the software analyzing a contract and comparing it against models (e.g., playbooks or previously negotiated and approved contracts) to ensure consistency and highlight deviations from the models, and suggesting alternative, consistent contract language. Key players in this market are Lawgeex, Blackboiler, Termscout (recent startup), Scissero. A relative newcomer in this area is Syntheia. 

Contract Negotiation

Contract review software rapidly categorizes executed contracts, and is able to identify and extract clauses and discrete data points from contracts. These applications use machine learning and natural language processing technology to extract pre-defined data points. For example, a user may want summaries of thousands of commercial leases: the software reads the leases and prepares a summary of e.g., the names of tenant and landlord, the property address, the rent, the expiry date, the termination clause etc. If a datapoint is not predefined in the system, users are typically able to train the technology to recognize it, creating their own "models" for extraction. Companies in this category include Kira Systems, Zuva, eBrevia, RAVN Extract, Syntheia, ThoughtRiver, Luminance and others.

Contract Review

This category covers all tools and solutions dealing with contracting, from end-to-end contract lifecycle management (CLM) to contract review, and contract management. All interactions of a company are underpinned by contracts making this one of the most important categories of legal tech. Alongside ERP systems for finance, CRM for marketing / business development teams, Procure to Pay for procurement, and HR management for HR, CLM is the fifth system of records touching all parts of a business.