What happens when two young dynamic companies join forces? They pool together their potential and create added value for clients. LEXR is now using artificial intelligence from Legartis as a means of speeding up data processing agreement (DPA) reviews for large corporations as well as small and medium-sized enterprises.
DPAs are indispensable for technology companies in particular, as they are a legal requirement. Many technology companies have larger companies as clients or partners. Often, a company’s own standard contract cannot be enforced easily, so DPAs are negotiated and reviewed. This can take a long time, as such contracts can consist of 20 or more pages.
The contract review process is much faster with Legartis’s artificial intelligence, which automatically analyses contracts and delivers precise results within seconds using machine learning and natural language processing. This automated process means that contracts are reviewed to an unlimited extent using minimal resources. But for many smaller companies, contract review software has previously been too expensive or there has been insufficient human resources planning.
LEXR removes these obstacles for small and medium-sized enterprises. The law firm specialises in technology companies and its goal is to sustainably improve customer satisfaction through its legal services. Significantly shorter contract review times are a real win for everyone. ‘Legartis’s sophisticated AI technology will allow us to review data processing agreements faster and more efficiently. Our clients and lawyers are happy about this faster process, as they can now give their full attention to the important legal aspects. And this certainly gives us a cost advantage that we can pass on to our clients,’ says Christian Meisser, LEXR CEO.
Interested companies now have access to fast and efficient DPA reviews. You can find more information about the new offering on LEXR’s website.