Here’s some of the stories you may have missed this week, plus AL’s Editorial Christmas Holiday dates.
Pramata Launches AI Design Studio
Contract management platform Pramata’s newly launched AI Design Studio includes a Playbook Creator that helps you to draft negotiation playbooks based on your organisation’s contract templates or legacy contracts. It also includes a Provision, Clause and Term Modeller that allows legal teams to define the contract concepts that matter most to their business.
Praful Saklani, CEO, Pramata, said: ‘We are at an inflection point when it comes to how organizations are implementing and integrating generative AI into their contract management strategies. So much of the CLM technology market is built on empty promises – lots of fluff with very little substance. Our AI Design Studio gives companies enterprise-grade Contract AI capabilities that can actually transform how their teams work.’
‘The ways in which legal departments and beyond leverage generative AI over the next few years will determine their overall success. Teams that are slow to implement effective contract AI tools will likely have to deal with fewer headcounts and smaller budgets. Those who maximize the power of AI within their contract management strategies will be able to deliver more value to their business,’ the company added.
And that’s a compelling call to action!
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Trellis Launches GenAI Capability For US Trial Court Litigation
Trellis’s new genAI-driven legal research and insights capability offers improved access to the largest and most comprehensive US trial court database, the company said. This includes dockets, documents, rulings, judge, law firm and company analytics, with coverage across states, counties, and courts.
In terms of the genAI bit, they now leverage ‘advanced language models to deliver precise insights that enhance decision-making, case preparation, and litigation strategy’. This includes motion argument development, motion drafting, client updates, and discovery preparation.
Nicole Clark, CEO and cofounder of Trellis, said: ‘Trellis provides access to hundreds of millions of motions and briefs, representing millions of hours of attorney blood, sweat, and tears in research and drafting. It’s why Trellis AI stands as the only tool to offer one-click solutions to create work product backed by the entire court system and the learnings from every trial court litigator who came before them.’
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Contract Network + Bortstein Legal Group Launch DPA System
Bortstein Legal Group in partnership with The Contract Network has launched a genAI-driven Privacy Contracting Solution that provides ‘fast, cost-effective and cost-predictable mark-ups to DPAs, while deploying a ‘lawyer in the loop’ framework’.
This new offering:
- ‘contains the legally required terms that must be included in a DPA;
- mitigates commercially damaging issues that commonly appear in DPAs; and
- makes surgical amendments that are more likely to be accepted by counterparties.
- and allows clients to save up to 75% on DPA mark-ups compared to traditional legal fees, offering a faster and more affordable way without sacrificing quality’.
The Privacy Contracting Solution is available now to Bortstein Legal Group clients and will also be offered by the Group as a managed service to TCN clients.
Benjamin Ross, Head of Privacy & Cybersecurity at Bortstein Legal Group, said: ‘We wanted to crack the most complex and labour-intensive part of being a privacy lawyer advising on contracts. This AI solution supercharges our lawyers and drastically transforms our practice so that we can focus on adding value for clients outside the contract as well as addressing this immediate challenge, as a compelling and efficient value proposition.’
Jim Wagner, co-founder and CEO of TCN, concluded: ‘We’re proud to partner with Bortstein Legal Group, a firm known for its expertise and its innovation in efficiently serving a who’s who of clients.
‘We’re honoured that they chose to partner with us for our powerful and responsible generative AI capabilities, as well as our broader commitment to eliminating unnecessary waste in the contracting process. Together, we’re offering a powerful solution that eliminates unnecessary friction in data privacy agreements and delivers results faster and more affordably.’
The Bortstein Legal Group has bases in New York, London and Toronto, while The Contract Network (TCN) is an AI-powered collaborative contracting platform that works to ‘foster transparency and better outcomes by providing all parties to an agreement a neutral platform to accelerate their negotiations and to manage their contract compliance’.
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Patlytics Announces Rapid Growth For Its GenAI-Powered Patent Platform
Patlytics, an AI-powered patent workflow platform, announced that following a $4.5m seed round in April, the company has seen a 20x increase in ARR and an 18x expansion in its customer base in just six months, with a sustained 300% month-over-month growth rate. It’s also bagged some additional funding, but won’t disclose the amount.
The growth clearly underscores the interest in leveraging genAI in the IP world, and Patlytics joins a growing number of companies using this tech in the patent world.
Paul Lee, founder and CEO of Patlytics, said: ‘We’re in a pivotal moment where businesses are strategically evaluating how AI can transform their IP processes.’
As to what it does, the platform utilizes genAI ‘to increase efficiency in patent drafting and generation, claim charts, infringement detection, and portfolio management by 80%’.
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Artificial Lawyer Editorial Christmas Hols and Nordic Legal Tech Day
Artificial Lawyer will be off ‘Up North’ again next week, this time to Finland for Nordic Legal Tech Day in Helsinki from Tues to Thurs (26 to 28 November). Let me know if you’re around and would like to catch up.
This site will also be on Christmas editorial holiday from December 16th through to January 7th and will not be publishing between those dates, so if you have any important news you’d like to share with AL as we approach the year’s end, then please keep in mind these dates.
Have a nice weekend everyone!
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