his past Monday, I spoke on a panel at the opening of LegalX at MaRS. LegalX is MaRS' newest industry cluster, focused on connecting technologists, designers, coders, engineers and lawyers to drive change in the legal sector. LegalX has been put together by Aron Solomon and Jason Moyse. There was a good crowd out for the event, apparently some 200 people.
Watson is almost certainly the most significant technology ever to come to law, and it will give lawyers permission to think innovatively and open up the conversation about what is possible in a field that has been somewhat “stuck.”
—"10 predictions about how IBM’s Watson will impact the legal profession", Paul Lippe and Daniel Martin Katz, ABA Journal
Ask any transactional lawyer about the contract review process, and you will likely hear the horror stories: Tedious hours reviewing thousands of pages of contracts. Old documents with poor quality scans. Pressure to get the work done fast. And with no margin for error. In M&A due diligence, the consequences of a mistake can be huge. For example, a problematic assignment clause in a key customer contract could knock millions of dollars off a deal value, or might delay the transaction while the target scrambles to obtain consents.
| Tagged machine learning
This morning, Legaltech News announced the finalists for the 2015 LTN Innovation Awards. We are thrilled to learn that Diligence Engine is a finalist in the "New Product of the Year" category alongside Avvo Inc. Advisor, Catalyst Repository Systems' Predict and Lex Machina.
| Tagged awards
Last week, I had an opportunity to join the Law Firm Marketing and Business Development Leadership Forum* in New York, where I led a roundtable on the role of lawyering technology in marketing the law firm of the future. It may not be obvious to some law firm marketers that a law firm's practice technology is going to play a critical role in marketing the law firm of the future. But I believe it will. Here's why:
As an M&A lawyer, I did due diligence and supervised it. From that experience, I know that virtual data rooms are central to the M&A process. An early step in a company putting itself up for sale is loading documents into a VDR, so that deal teams can learn what they need to about the target.
While there are a lot of companies that offer VDR functionality, Intralinks stands out; it is a dominant player for good reason. Intralinks originated the VDR market and have stayed at the leading edge of it technologically. They are fully focused on M&A, and know it deeply. They are also a core part of of being a junior M&A professional: I suspect that many lawyers and bankers have learned they were staffed on a new deal from receiving an automated message from Intralinks that have been added to a new Dealspace.
Today, we're ecstatic to announce that we're partnering with Intralinks to provide a better due diligence experience. Intralinks is the leading place to store diligence documents; Kira Diligence Engine is the fastest and most accurate way to review and analyze diligence documents. Together, M&A professionals can do better reviews in less time, and with less pain. This complete storage to review offering is great for users. In the words of Matt Porzio, vice president of strategy and product marketing at Intralinks, “Together, Intralinks Dealspace and Kira Diligence Engine help ensure high-stakes transactions are brought to a fast close. The partnership will save our customers time and expense and help prevent costly human error during due diligence.”
We couldn't be happier about this combined offering. Click here to read the full press release about the partnership.
Kira Inc. is looking for a Marketing Coordinator. We make serious enterprise software, but we have fun doing it. Our software uses artificial intelligence to read contracts and is used by professionals to accelerate corporate transactions while reducing risk of errors. Our clients include some of the world’s largest corporations and professional services firms.
| Tagged Jobs
Kira joined over 30 companies at last week's Disrupt CRE event in New York to discuss the future of the commercial real estate industry. While the legal industry is often criticized for being the last to adopt technology, until recently commercial real estate was not far behind.
| Tagged Real Estate
Kira Inc. is looking for an operations assistant to help us manage our growth.
Sunday, at the South By Southwest Interactive Conference, Nicole Bradick of CuroLegal and I presented on "Will Your Next Lawyer Be A Machine?" It—and SXSW in general—were quite fun. Based on the lots of questions we got, our audience was engaged. Here are our slides: