Clearlaw recently spoke with a General Council at a large public company and he shared something about his role that resonated with us. “My number 1 priority is to be a good partner to the business. I want to empower my business partners to make more money. Legal teams can be viewed as an expense, and I want to change that.” This is a theme we hear often from in-house legal teams.
The reality is that legal teams and their activities are critically important to the performance of businesses. In particular, B2B organizations, whose client relationships are governed by complex contracts, benefit greatly from competent and engaged legal partners to maximize returns, lower risk, and improve throughput.
Part of the issue is visibility. To many non-lawyers, contracts are filled with language that the business do not use on a day-to-day basis. What the business needs is access to the key data points embedded within those contracts, like price, payment terms, entitlements, warranties, SKU numbers, etc. This data can be used in areas such as billing and customer relationships but give deep insight into the nature of relationships and can be used to create business opportunities.
This is a core value proposition of Clearlaw, our industry leading Contracting Intelligence tool. Our Natural Language Processing engine splices contracts into structured data, independent of template or format. This allows the business to have access the information they require while removing the rest. But Clearlaw takes that one step further. Our Clearlaw Connect API sends this information to external systems, providing data within the tools the business uses, without having to ever open a contract. This then empowers the business to leverage this data to grow.
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