AI-enabled Contract Review Platform “LegalForce” Adopted by over 2,000 Customers
～Acquiring more than 500 customers in 3 months～
LegalForce, Inc. is pleased to announce that more than 2,000 customers, including companies and law firms, have implemented its AI-enabled contract review platform “LegalForce” as of March 2022.
What is the AI-enabled contract review platform “LegalForce”?
“LegalForce” is an AI-driven product that simultaneously enhances both quality and efficiency of the contract review process. It provides automatic review by its proprietary AI technology, a flexible search by article, and a variety of contract templates and formats. The platform is also useful for knowledge management as it accumulates historical records of the contract review.
Acquiring more than 500 customers in 3 months
Launched in April 2019, the product has grown to be used by over 2,000 customers in about three years.
“LegalForce” has significantly evolved over the past three months, releasing dozens of new features and functional updates (excluding bug fixes), such as “Spelling Consistency Checker” and “AI-review for Stock Purchase Agreements.” In addition to supporting contract review, the scope of the product has been expanded to include case management of contract review requests.
LegalForce will continue to develop and provide software that improves the quality and efficiency of corporate legal operations by cutting edge technology.
Release and updates in the last 3 months
Three noteworthy features released since December 2021.
|Spelling Consistency Checker||The checker instantly identifies spelling discrepancies and improves the efficiency of the proofreading process.|
|Version control by Case Tracker||With this new feature, customers can import the latest contracts from Case Tracker and easily manage document versions. This eliminates errors associated with contract version control and problems caused by misidentification of the latest version of a contract.|
|AI-review for Stock Purchase Agreement||AI-review function now supports Stock Purchase Agreements. As a result, the number of reviewable types of contracts has been expanded to 49 (including English contracts).|