Legal AI companies have continued to pick up both law firm and corporate clients this week in the shape of the UK’s Luminance bagging Swedish law firm Moll Wendén Advokatbyrå, while Germany’s Leverton has won Sports Direct, the UK’s largest sporting goods retailer as a client.
Sports Direct has signed an extended engagement to use Leverton’s multi-language capabilities for review and analysis of documentation for its property portfolio in Continental Europe.
Speaking about the deal, Richard Belgrave, Global Sales Director at Leverton, said: ‘We are delighted to have signed a large and very recognisable name in UK retail. We are proud to contribute to the growth and success of their company and we have really highlighted our platform’s capabilities in data extraction from non-English leases on behalf of corporates.’
‘Leverton’s software has allowed us to extract and scrutinise key lease events across our European portfolio which will enhance the quality and efficiency of our lease management processes going forward,’ added, Tom Piper, Legal Counsel (Property) of Sports Direct.
Meanwhile Luminance’s doc review tech will be used by Moll Wendén for M&A due diligence. The move follows a string of law firm client wins for the UK legal AI company across Scandinavia since 2017.
Martin Morén Jönsson, Partner at Moll Wendén, said: ‘The AI technology is easy to use and effective. We believe that its proficiency at data room analysis will improve the efficiency of our M&A team by enabling our lawyers to focus on detailed reviews and, thus, making the due diligence review more cost effective for our clients.’
Emily Foges, CEO of Luminance, concluded: ‘We are thrilled to have been selected by such a proactive and innovative firm. Moll Wendén’s partners understand the crucial role AI technology will play in maintaining its position at the forefront of the legal profession in today’s modern business environment.’