LegalOn Goes ‘CLM-ish’ With Contract Vault

LegalOn has launched Vault in the US and Europe, expanding the AI company’s wealth of features around contract management and analysis to the point where we can perhaps say it’s now CLM-ish. Although, they noted they are not a CLM, nor want to be.

So, what is Vault, (which has already launched in Japan)? They explained that:

‘Vault automatically extracts both standard and custom, company-defined fields across an organization’s contract repository, and lets legal teams work with the LegalOn Assistant to ask plain-language questions about agreements, including renewal terms, termination rights, data residency obligations, audit clauses, and pricing escalators, without manual tagging or rigid configuration.

‘Vault also identifies renewal and expiration dates, organizes them in a unified deadline view and sends email notifications tied to specific terms and assignees.

‘[And] Vault connects directly to DocuSign so executed contracts flow in automatically, and is built on LegalOn’s enterprise-grade security infrastructure.’

In short, with the above capabilities they’re definitely getting quite CLM-ish, even if they’re not going the whole way. Plus, they’re very much an AI company first, which has grown to this point, rather than the other way round.

Daniel Lewis, CEO at LegalOn, commented: ‘Our vision is a productivity platform that serves the full working day of an in-house legal team, not just one task but a broad scope of what the team is responsible for,

‘We’ve completed a major piece of that with Vault. A lawyer can now draft a new agreement, review an inbound contract against their playbook, manage an intake request from the business, track a renewal obligation, and surface how a similar deal was handled eighteen months ago, all inside LegalOn.’

He went on to say to AL: ‘Signed contracts are the end of a negotiation but just the start of a commercial relationship. Vault exists to make those relationships’ obligations and requirements easier to manage, and to make your next negotiation faster and smarter.’

‘Vault isn’t just a better place to store documents. It is designed to drive intelligence and action across many legal tasks. Insights from executed agreements improve contract review, and visibility into contract-based operational requirements helps teams move faster with customers.’

So, there you go!

More about LegalOn here.

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