Legatics has launched its own ‘Data Rooms’ capability, which enables law firms to manage transactions and share confidential documents within a single workflow, and as part of the wider deal platform.
In short, it provides an alternative to having to use a separate VDR. AL asked the UK-based company about this and they noted: ‘We’re calling it Legatics Data Rooms rather than a VDR. The broader framing is secure document sharing – it covers due diligence and any situation where firms need controlled, audited access to documents on a transaction, all within the same platform they already use for transaction management.’
The company added that: ‘The launch reflects growing demand from leading law firms.’
Early adopters, including White & Case, Schoenherr and Hill Dickinson, are already using Data Rooms on a range of transaction types, they added.
So, why do this? They explained that traditional data room solutions are often ‘complex to implement and priced for large-scale transactions, making them disproportionately expensive for everyday matters’.
In this case Legatics said they provide the ‘essential functionality firms actually need: secure sharing, granular permissions, version control and complete audit trails, without unnecessary overhead’.
The move comes at a time of growing debate about the wider cost of legal tech tools, in particular because of the rising cost of token use for AI solutions.
Rob MacAdam, Chief Product & Strategy Officer at Legatics, commented: ‘Law firms don’t need the complexity of a general-purpose collaboration platform to run a transaction data room.
‘They need purpose-built tools that lawyers can pick up and use from day one: structured file organisation, granular access control and a reliable audit trail. And because it sits within Legatics’ broader transaction management platform, firms get true end-to-end coverage of the deal.’
They added that the solution integrates directly with iManage and NetDocuments.
More about Legatics here.
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Legal Innovators UK – London, Nov 4 and 5
And, then Legal Innovators New York – Nov 17 and 18.
After another fantastic Legal Innovators California, where we had speakers from OpenAI, Y Combinator, Google, Meta, and many more pioneering organisations; and our stellar inaugural event in Paris this June, we are now looking forward to the landmark conferences in London and New York, both in November, and both across two days: Law Firm Day, and Inhouse Day.
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